Forbes reported yesterday that Wilpon reached out oil trading baron Ray Bartoszek, in the hopes that he might take Einhorn's place.
Bartoszek had been floated as a possible buyermonths ago, but has once again declined because Wilpon and Katz refuse to give him any stakein the much more lucrative SNY cable network.
The concern for the current owners – which should have been obvious to anyone the moment Einhorn picked up the phone – is that the hedge fund giant is looking to grab a foothold now, so that he can take over the entire thing when the Wilpon's empire inevitably collapses.
The exact details of his offer are not known, but Forbes has claimed that the terms Einhorn is seeking would require the Mets to pay back his initial investment in 3 years, or give him the option to raise his stake in the team to 60% ... for just $1 more.
If that's true, he's basically shorting the financially-troubled team, so that he can pick up the pieces for himself. The guy likes his baseball.
The Mets have denied both the Bartoszek rumor and the $1 story, but surely the fact that the Einhorn negotiations have dragged on much longer than either side had hoped suggests the owners may nervous about the deal they're about to make.
Unfortunately, they may have no choice, but to bargain with (their) devil.
This story originally appeared on Business Insider
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