Last week the Daily News reported that the Mets deal with investor David Einhorn was being slowed up because the Mets, no longer shackled by the exclusive negotiation window with Einhorn, were talking to others who may offer them a better deal. Today the New York Post tells a somewhat different story: the Einhorn deal isn’t sealed yet because another Mets lender — J.P. Morgan Chase — is blocking it.
Why? Because Einhorn’s deal, though thought of as an investment in the team, is functionally like a loan. As in, he’s offering the Mets money now, is taking a stake of the team as, essentially, collateral, and will be repaid in three years, at which time his stake is reduced to 16 percent. That 16 percent can be thought of as interest.
At least that’s how J.P. Morgan sees it. And, as someone who is owed way more money by the Mets than Einhorn will be, and as someone who lent money to the Mets earlier, they want to be paid back before Einhorn is.
So, the Mets are still negotiating with everyone and are likely still shopping around for other investment offers. But it’s not necessarily out of a pure position of leverage over Einhorn. It’s partially because they can’t yet get the deal done with him.
Yankees shortstop Didi Gregorius had another fantastic night last night. He went 3-for-3, hitting a home run for the fourth game in a row, had an RBI single and reached base safely in all five of his plate appearances in New York’s 7-4 win over Minnesota.
For the year that gives Gregorius a line of .372/.470/.833, putting him atop the American League in average, slugging, OPS, and OPS+. He also leads the league in total bases (65) and RBI (29). He leads all of baseball in fWAR at 2.2, edging out Mike Trout despite the fact that Trout has played in two more games. He’s second behind Trout in homers with nine.
After last night’s game he insisted that he is not a home run hitter:
“I do have a lot of home runs, but it’s not like I am going out there to try to hit them . . . I’m not a power guy like Judge and Stanton, who hit 50 to 60 and up. Those are the guys who actually hit home runs. One year, let’s say, I hit five — then you ask me where that part went . . . if they go out, they go out. I’m just mostly trying to barrel it up and get a good swing . . . I try to hit line drives and if you check most of my home runs they were line drives,” he said. “It’s not like I am going up to hit deep fly balls.”
Given that he hit 25 homers last year and 20 the year before, he’s being a bit modest, even if he’s not likely to keep up this torrid pace. That modesty is not stopping some people from getting a bit carried away, of course:
We’ll forgive Bob for the hyperbole. Didi has been fun to watch.