Multiple outlets are reporting this morning that the Mets have an agreement to sell 49% of the team to one David Einhorn of the hedge fund Greenlight Capital, Inc. for $200 million. The sale would not include a stake in SNY, it’s being reported. No word on what kind of managerial control, if any, Einhorn would have.
For those who care about such things, Einhorn is really young — he turns 43 this year — and is a serious poker player too. Colorful guy.
It’s also probably worth noting that Einhorn is in the news this week for much more significant business reasons: he, as one of the bigger shareholders in Microsoft, is calling for the company to fire its CEO Steve Ballmer. He’s also famous for being the guy who called B.S. on Lehman Brothers’ valuation and business practices well before anyone else did, and has made oodles shorting the stock of companies he feels are mismanaged. And he’s been pretty much vindicated in all of these assessments.
So: Einhorn is a guy who is not afraid to call for the head of management and he’s a guy who knows how to make a killing on a distressed asset. Yeah, I can totally see Einhorn agreeing to a deal in which he’s willing to sit back and let Fred Wilpon do everything he wants to do without any power to question, control or take over the course of the New York Mets. No question about it. It’s like, totally his M.O.
It may not be today and it may not be tomorrow, but I have this feeling that Fred Wilpon’s days as majority owner of the Mets are numbered.
Johnny Cueto signed a six-year $130 million deal with the Giants prior to the 2016 season. In his first season he went 18-5 with a 2.79 ERA and 198 strikeouts in 219.2 innings, helping lead the Giants to the playoffs. This season has been rocky for Cueto — he’s got a a 4.42 ERA in 15 starts and has battled blisters — but they’ve been far rockier for the Giants overall, as they sit in last place in the NL West and have the second worst record in baseball.
Many suspect that the Giants will either rebuild or, at the very least, restructure some in response to this nightmare year. If so, they’re likely going to be doing it with Cueto, who Jon Heyman reports is going to opt-out of his deal:
San Francisco Giants starting pitcher Johnny Cueto is planning to opt out of his contract at the end of the year, but he would listen to any extension offer . . . Cueto has $84 million to go over four years. It would probably take an injury or major slump for Cueto not to opt out. But it makes sense that he will.
Heyman says the Giants are not inclined to give him an extension, so expect to see Cueto on the free agent market three days after the World Series ends, which is the deadline for him to exercise his opt-out rights.
Things are going great for the Dodgers lately. They’ve won seven consecutive games and 13 of their last 14. They lead the National League in wins and are in first place in, arguably, the best division in baseball.
But there are a lot of moving parts on a baseball team, and even when some things are going great, other things can go not-so-great. Like this:
Urias has been diagnosed with shoulder inflammation and shut down indefinitely. An MRI last week showed no structural damage, but his shoulder is still bothering him. He has not pitched in the bigs since late May, when he allowed seven runs in less than three innings against the Miami Marlins. He was sent down after that and went 3-0 with a 3.12 ERA, six walks and 17 strikeouts in 17.1 innings pitched in three starts with Oklahoma City before being shelved.