UPDATE: The New York Times confirms Adam Rubin’s report and adds that the deal being discussed between Einhorn and the Mets does not include SNY, which is the team’s television network. Einhorn didn’t say much during the conference call Thursday, but was adamant that he had “no interest” in owning a television station.
9:30 AM: Adam Rubin of ESPN New York reports that David Einhorn does indeed have a path to majority ownership with the Mets. Of course, that was the assumption all along, as it wouldn’t make much sense if he didn’t have that option, but the exact terms of the deal are a doozy.
Einhorn has agreed in principal to purchase roughly 33 percent of the team for $200 million, which will infuse cash and keep the organization solvent in the immediate future. In three years, according to the source, Einhorn has an option to up his stake to 60 percent, although principal owner Fred Wilpon and his family have an opportunity to block Einhorn from gaining that majority stake.
The source said the Wilpons can stop Einhorn from gaining the majority share essentially by returning Einhorn’s initial $200 million investment yet allowing him to keep the 33 percent share of the team.
So, basically, in three years either Einhorn will either have majority control of the Mets or get his initial $200 million investment back and still keep one-third of the team. Kind of makes you wish you had $200 million sitting around, right? Not only is this the best deal you’ll see this week (year?), but it also tells you how hard-up the Wilpons are for cash right now.
Mariners starter Felix Hernandez is dealing with “dead arm” and will head back to Seattle to have his shoulder examined, Ryan Divish of the Seattle Times reports. Hernandez was reportedly visibly upset and left the clubhouse quickly, declining to speak to the media, Divish adds.
Hernandez wasn’t long for Tuesday’s game against the Tigers, as he lasted just two innings, yielding four runs on six hits and two walks with two strikeouts. The Mariners went on to lose 19-9. Hernandez is now carrying a 4.73 ERA over his first five starts.
Not much else can go wrong for the Mariners, who are now 8-13 in last place in the AL West. Mitch Haniger also suffered an oblique injury on Tuesday, joining what is becoming a lengthy list of dinged-up Mariners.
Blue Jays pinch-hitter Chris Coghlan found a creative way to beat the tag from Cardinals catcher Yadier Molina in the top of the seventh inning of Tuesday night’s game.
With the score tied 2-2, the Jays had a runner on first base and one out as Kevin Pillar faced reliever Matt Bowman. Pillar drove a 1-1 fastball to deep right field. Stephen Piscotty leaped in an attempt to make the catch, but the ball caromed off the wall and back towards the field. Coghlan, who was on first, made his way around third towards home. Piscotty threw home past the cutoff man and the ball reached Molina on several bounces. As Molina went low to apply the tag, Coghlan went high, leaping into the air and somersaulting into home plate to score the go-ahead run.
The Blue Jays would go on to score two in the inning, but the Cardinals answered with two of their own in the bottom half of the seventh. As of this writing, the score remains tied at four apiece.