Plan B for the Mets: multiple, smaller investors

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With their $200 million cash infusion from David Einhorn scuttled, Fred Wilpon and Saul Katz are taking a different tack.  Richard Sandomir and Ken Belson report that they’re looking into selling smaller stakes “to people willing to invest perhaps $20 million each.” Hurm.

Being a minority investor in a closely-held corporation is not great to begin with. You have no control, really. It’s the sort of thing that, as the Einhorn negotiations showed, would almost compel you to want to (a) have some mechanism to make it a REALLY great investment on its own terms, such as you getting most of your money back later; or (b) have some mechanism by which your minority share could be transformed into a controlling interest at some later date.

But now Wilpon and Katz are basically looking for vanity investors. People who want to be able to say “I own a piece of the Mets.”  As the Times story notes, it’s often the case that “such investors simply want the perks of ownership, like access to suites and the team’s players. Most of these investors do not have ambitions of being majority owners.”

It may be easier to find those kinds of investors, but getting them together, making sure they pay — and continue to pay later when losses need to be covered — and then managing the suddenly-larger ownership group is probably something of a headache.

Astros extend winning streak to 11 games

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The Astros rallied late to keep their winning streak alive, extending it to 11 games with a 7-4 victory over the Royals on Sunday afternoon. The club is now 48-25, leading the Mariners by a full game in the AL West.

The Royals took a 4-2 lead after three innings, but Brian McCann knocked in a run with a single in the top of the fourth to cut the deficit to one run. Carlos Correa hit a game-tying solo home run in the eighth. The Astros kept their foot on the gas, scoring two more runs on RBI singles from Evan Gattis and Marwin Gonzalez in the top of the eighth and another in the top of the ninth on Correa’s sacrifice fly.

Starter Lance McCullers allowed four runs (two earned) on six hits and two walks with nine strikeouts over six innings. Tony Sipp worked a scoreless seventh. Ken Giles did the same in the eighth. Hector Rondon finished off the win in the ninth, working around a one-out walk with a game-ending double play.

After winning all 10 games on their road trip against the Rangers, Athletics, and Royals, the Astros will head home for a nine-game homestand against the Rays, Royals, and Blue Jays. Each club is below .500.