May 26

Mets OK minority owner; still have major problems.

The Mets have the minority owner they hope will be able to bail them out of their major financial mess in the fallout of the Bernie Madoff Ponzi scheme.

Mets to get minority owner.

David Einhorn, president of Greenlight Capital Inc., will purchase roughly 25 percent of the team for roughly $200 million. The sale does not include any ownership segment of SNY. The $200 million will go toward paying down the Mets’ considerable debt, which includes repayment of a $25 million loan to Major League Baseball.

The Mets confirmed the sale this morning in a press release, saying Einhorn has a non-operating stake in the team.

“We are very excited about David joining our ownership group for several reasons,” owner Fred Wilpon said. “David’s investment immediately improves the franchise’s financial position. Equally important, David’s intelligence, integrity and success in both business and civic affairs provides us with another perspective in evaluating what is best for this organization and our fans, and we welcome his input. In partnership with David, we look forward to achieving our ultimate goal of again becoming World Series champions.”

EINHORN BIO

Einhorn, 43, co-founded Greenlight Capital in 1996. He is the author of “Fooling Some Of The People All Of The Time,” a book detailing his battles with Allied Capital. Considering how all this transpired and the parties involved in the Ponzi scheme, it is an ironic title.

Einhorn grew up a Mets fan and dressed up as Dave Kingman one Halloween.

“Having an opportunity to become part of the Mets franchise is exciting beyond my wildest childhood dreams,” Einhorn said in the release. “ I spent my first seven years living in New Jersey and rooting for the Mets.  In 1975, I even dressed in a homemade jersey as a Met for Halloween.

“ I have been a baseball fan for my entire life and have enjoyed teaching the game as the coach of my daughter’s little league team.  I look forward to partnering with the Wilpon and Katz families through the good seasons, the tough seasons and especially the championship seasons.”

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May 26

Today in Mets History: Funny anecdote in rout of Cubs.

Good morning folks. Anything that makes one laugh out loud is something to share. Such is the case with this note. There are a lot of funny nuggets in Mets lore, but this one is a gem.

On this date in 1964, the Mets scored a then club record 19 runs in a 19-1 rout of the Cubs at Wrigley Field.

As the story goes, a fan called a New York newspaper and asked, “How did the Mets do today?’’

He was told they scored 19 runs.

After a pause, the fan asked, “Did they win?’’

Actually, in reading about those days, its plausible to think it happened.

It would have been interesting to follow them as an expansion team. If anybody has any early-year stories, please share.

May 25

Mets try to pick up pieces tonight at Wrigley.

Dillon Gee will be the latest to attempt to halt the Mets’ slide, which is at three games.

After getting waxed 11-1 last night by the Cubs in response to owner Fred Wilpon’s comments about payroll and calling out three of his key players, the Mets are in need of an emotional overhaul.

“We’re going to move on,’’ Mets manager Terry Collins said, reading the cliché handbook. “Just chalk it up as a game we didn’t play very good. We didn’t pitch as well as we can.’’

The Mets are again on the offensive skids with 14 runs scored in their last seven games.

NOTEBOOK: David Wright had a second opinion on the stress fracture in his lower back, and the original diagnosis was confirmed. … Angel Pagan is expected to be activated from the disabled list Friday. … The news isn’t good on Ike Davis, whose foot is still sore, so he’ll remain on the disabled list.

 

May 25

How much does Alderson know about Wilpon’s finances?

GM Sandy Alderson said a $100 million budget is news, and he hasn’t spoken with owner Fred Wilpon about next season. Alderson anticipates a payroll between $100 million and $145 million. That’s a wide berth, and the spectrum ranges from being able to compete to being a bottom feeder.

ALDERSON: How much does he know about Wilpon's finances?

When he took the job, Alderson said expectations are high in this market and meeting them means spending. Alderson said it is not guaranteed the Mets won’t make an offer to Jose Reyes. There can be no assumption made, Alderson said, Reyes will be is gone.

Alderson has made some conflicting comments regarding his role and the Mets’ financial picture. He said going in he knew money would be tight around the Mets, and indicated just because money will be come off the books doesn’t mean there will be wild spending next winter. He also said he’s been assured there’s enough money to make a contract proposal to Reyes.

How big that proposal is uncertain, but there doesn’t appear to be any indication it will be made any time soon.

Considering Alderson’s reputation, I find it difficult to believe he doesn’t have greater knowledge of Wilpon’s financial problems then he is letting on. Maybe not to the penny, but definitely with a handle on next season’s budget.

How do you take such a job without knowing that information?

Or, considering he took the job at the urging of commissioner Bud Selig, maybe he knows it all and is just minding the store until it is sold.