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.
Rick Morissey of the Chicago Sun-Times published an article on Sunday giving a bit of insight into Cubs president of baseball operations Theo Epstein. When Epsten was younger, he dabbled in sportswriting, but quickly realized the trade wasn’t for him.
As Morissey details, when Epstein was 19 years old writing for Yale’s student newspaper, he wrote an article suggesting the school’s football coach should be fired during what would become a 3-7 season. Epstein was told during the meeting that one writer would defend the coach and one would call for his job. “It was a lesson in the way that the world of journalism sometimes works. It was an eye-opener for me. I regret it, and I’ve happily moved on.”
Epstein continued, “I realized I didn’t want to be a sportswriter when I was interning with the Orioles back in ’92, ’93, ’94. I did do a lot of media-relations stuff, and I saw that the life of a sportswriter is pretty lonely. You kind of work by yourself, sit there by yourself in the press box, go back to the hotel bar. Not to generalize.” He added, “But I really respect writing and respect sportswriters.”
He’s not wrong, and he seems to have found his calling as a front office executive. His Cubs are back in the World Series for the first time since 1945.
Indians second baseman Jason Kipnis tweeted on Sunday, “Got a little too close to [Francisco Lindor] during the celebration!! Freak accident but should be good to go by Tuesday! #cantkeepmeoutofthisgame!”
Per MLB.com’s Jordan Bastian, manager Terry Francona said Kipnis is dealing with a low ankle sprain, but he’s expected to be ready to go when the World Series begins on Tuesday. Kipnis went through fielding drills on Sunday.
Kipnis is hitting .167/.219/.367 with a pair of homers and four RBI in eight games this postseason.