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.
The first few days of spring training have been pretty quiet. Guys are going about their business and games are being played, but we haven’t had any news or controversy or silliness or anything fun like that. That’s about to change, however, as Tim Tebow has arrived at Mets camp.
Tebow, a non-roster invite, arrived at the Mets facility in Port St. Lucie, Florida this morning and, unlike every other non-roster invite, had a press conference. You may be surprised to learn that he’s in great shape, is excited to get going and wants to improve steadily each day.
The plan for Tebow is to be a part of the minor league camp, not the major league one, so he’s not going to be as visible at workouts as you might expect. He will be playing in some major league spring training games, however, at least until we get deeper into spring training, after which you’d assume that veterans and players with a real shot of making the big club will play longer.
In the meantime, you can buy Tebow shirts. But not Curtis Granderson ones, it seems:
Or, I should say, it’s spring training for whatever automated timer thingie turns the sprinklers on and off.
This was the scene at Goodyear on Saturday as the Indians and Reds played in the bottom of the eighth in their spring training opener. Reds manager Bryan Price says that this was probably the second or third time this has happened in the middle of a game there.
Maybe investigate manually operating that bad boy? Just a suggestion!