Author: Media Goon @mediagoon

Earlier this month the suit against the Wilpons was taken out of bankruptcy court and given to a district court judge. That seemed to be a good sign for the Mets organization.
This was in the same article from the Daily News that spoke about the possible additional investor talk surrounding the team.

According to sources who have followed the deal, Judge Jed Rakoff‘s July 1 ruling that moved Irving H. Picard v. Saul B. Katz et al into the Southern District of New York has changed the landscape for the Mets’ owners, giving them a better chance at a more favorable outcome. The district court is more likely to hold the Mets owners responsible for $150 million to $200 million in provable profits from Bernie Madoff’s $63 billion Ponzi scheme rather than the $700 million in principal and $200 million in fictitious profits that Picard is seeking.

$200 million dollars is a lot better then billion dollars that Picard was looking to get out of the Wilpons. If this is true what are these talks that are going on with the additional potential investors? Is this part of the reason the Einhorn deal is taking so long? Are the Wilpons dragging it out to see if they even need investors at this point?

Shannon must definitely be away because it feels like its starting to me. The trickle of Mets news feels like it could becoming a stream now.
I was actually thinking about this the other day. What is the hold up of the official announcement of David Einhorn signing the deal to become the minority owner of the Mets. Then this came out today from Mike Ozanian over at Forbes.

Ray Bartoszek is going to visit New York Mets owner Fred Wilpon today about revisiting the possibility of becoming a minority owner in theunprofitable, debt-laden baseball team, according to my source.

MG here: Now does this mean that Einhorn is out?

After the previously announced June date for a deal passed, it wasreported in July that the deal with Einhorn would happen in August. But if my source is correct, the implication is that Wilpon is looking to replace Einhorn with someone he can cut a more favorable deal. The deal with Einhorn would have valued the Mets at$783 million.

MG: So according to sources Einhorn might be out. But a different possibility is that maybe the Wilpons are having another minority investor come  in at a lower stake so there is more infusion of cash without them having to give up any more percentage of the team to one investor. I don’t know if that makes sense to anyone else or I am just really tired and talking crazy. This would explain the reason why there are reports the Mets aren’t going to trade Jose Reyes and feel confident they can sign him to another contract next season.

You can see the Forbes article here.

Quick Update. I just saw this from the Daily News.

“The deal with Einhorn is on track,” once source told the Daily News. “But the exclusivity period has expired and the Wilpons are free to talk to other parties.”

“He’s being prickly on a couple of areas, and he thought he had them over a barrel,” added another person familiar with the deal, “so they’re talking to other bidders.”

So now this looks like it could also be a way for the Wilpons to have Einhorn back off on some of sticking points of the original deal. My head is starting to hurt already. Can’t anything be simple with the Mets?

From what is being said in the Mets interwebs, the Mets are intending to keep Jose Reyes for the rest of 2011. Buster Olney tweeted about it today.

@Buster_ESPN The Mets are now 100 percent certain they will not trade Jose Reyes before the deadline, according to sources. He changed their minds.