When we last touched on the terms of the new Mets ownership deal, there was enough information to make fun of the Mets, but a key detail was missing. We knew that David Einhorn had essentially agreed to loan the Wilpons $200 million dollars in exchange for a third of the team until the loan was paid back, a guaranteed one-sixth stake regardless, and the potential to buy a majority stake. What we didn't know was how much more than the $200 million it would take to purchase majority ownership from the Wilpons, and whether the Wilpons would be amenable to the scenario. It seemed as though the most Einhorn-friendly scenario possible was that he would pay for the additional shares at the same scale that he purchased one-third of the team, and get 51 percent control for a total of $350-400 million.
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