Mets say deal is off with investor David Einhorn

(AP) - The New York Mets owners say their deal is offto sell a minority stake in the team to hedge fund manager DavidEinhorn for

NEW YORK - (AP) - The New York Mets owners say their deal is offto sell a minority stake in the team to hedge fund manager DavidEinhorn for $200 million.

The team said in a statement Thursday the two sides were unableto reach an agreement after months of negotiations. The deal wasfirst announced in May.

The Mets' ownership group, led by Fred Wilpon, has been stuck ina legal and financial mess stemming from investments with Ponzischemer Bernie Madoff. A court trustee trying to recover losses forvictims of the scam has been trying to recoup money from the Mets.

The Mets got a loan from Major League Baseball in November. Theinflux of money from Einhorn would have helped pay debts and coveroperating expenses. MLB must approve the deal.

Wilpon says the Mets will now talk to others about investing inthe team.

advertisement | advertise on News 12

Trending Video

A bacterial infection known as leptospirosis is affecting 1 Bacterial infection affecting dogs in New Jersey
Scientists say the Garden State experienced a small 2 1.3-magnitude earthquake recorded in NJ
A scuffle broke out following the hearing of 3 Scuffle breaks out following hearing of 2 accused in Paterson murder
Police say two teenagers were shot just before 4 Police respond to possible shooting in Jersey City
One of those accused is Eric Seaberg, who 5 5 accused of stealing Superstorm Sandy relief funds

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE