Ownership Deeds

The Mets’ marriage to David Einhorn is off.

Naturally when something like this happens there are the reactions and overreactions.

You can read about the collapse of the Einhorn deal here and here on the NY Times website.

Of course, before the facts were out, the Wilpons were blamed for the deal coming undone.

Even if they’re to “blame”, what’s the difference? The reactions to the deal breaking down seem to insinuate that Einhorn had announced he was going to come in with an open checkbook to compete with any club in baseball in spending by signing Albert Pujols, Prince Fielder, Jonathan Papelbon and making the Mariners an offer they can’t refuse for Felix Hernandez, thereby guaranteeing a championship in year two of his involvement with the team.

99.9% of the people (it’s a stat I pulled out of my behind in a Mike Francesa-sort of way, but I guarantee it’s accurate) responding negatively to this didn’t know who Einhorn was before and they don’t know who he is now.

He’s a guy with a hedge fund, what appears to be a terrible hairpiece and a lot of money who wanted to buy a piece of the Mets, was making himself a sweetheart deal in an attempt to wrest control of the franchise from the Wilpons by a certain date by taking advantage of their clear desperation to get a cash infusion while the Bernard Madoff mess is being litigated. It appears as if they’re in a slightly better position now to maintain the club and don’t want to adhere to the original parameters with Einhorn.

In the end, who cares?

And Hollywood weighs in.

Not to be outdone, the fightin’ McCourts of Los Angeles were apparently offered $1.2 BILLION in CASH for the Dodgers by a group led by someone named Bill Burke.

Who knows where this is going? But if the McCourts—who bought the club, Dodger Stadium and other properties for $371 million in 2004—can wind up with a couple hundred million in the pockets of Frank and Jamie after all the tabloid fodder in the past seven years, it’d be perfectly fitting in a truth is stranger than fiction sort of way.

For Hollywood anyway.

And watch Frank McCourt provide a twisted ending by turning the offer down.

Typical.

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  1. #1 by Dave Wakeman on September 4, 2011 - 2:27 pm

    As soon as the Wilpons won a favorable ruling in one of their lawsuits over the Madoff case, I knew that the Einhorn deal would fall apart.

    Like you point out, Einhorn had wrestled a huge sweetheart deal because the Wilpons were desperate and as soon as he lost the leverage, the Wilpons stopped being held for ransom. Its really rather simple.

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