The Mets deal with David Einhorn continues to be delayed

6 Comments

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.

Video: Starling Marte refuses to take first base after being hit by pitch

Tim Warner/Getty Images
6 Comments

Pirates outfielder Starling Marte was hit on the hand by a Jack Flaherty pitch in the fourth inning of Tuesday night’s game against the Cardinals. Rather than take first base, Marte — who came to the plate with a runner on first base — insisted to home plate umpire Bruce Dreckman that the ball hit the knob of the bat, not his hand. Marte was allowed to continue his at-bat, though manager Clint Hurdle came out to discuss the ruling with Dreckman. Marte eventually grounded into a fielder’s choice. He then got caught attempting to steal second base and the Pirates scored zero runs in the inning.

According to Baseball Prospectus, a team that has runners on first and second with no outs is expected to score 1.55 runs. Having a runner on first base with one out yields 0.56 expected runs. Marte essentially cost his team a run by rejecting first base. Oops.