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May
24

Mets close to a deal to sell minority share of team

By juan

The New York Mets, who have been trying to sell a portion of the team in order to solve their financial problems, may have found a potential investor reports Josh Kosman and Lenn Robins of the New York Post.

A couple of weeks ago, we learned that Fred Wilpon remained confident that his family would retain controlling interest of the Mets, and they apparently will because their planning to sell up to a 49% stake.

Team ownership has chosen a group led by former commodities trader Ray Bartoszek and investor Anthony Lanza to buy a share of the team. Talks have been ongoing since last week on the proposed deal to sell up to the 49% for $200 million.

“They are pretty close to a deal,” a source close to Kosman and Robbins said.

It is still unknown though if the bidders will be allowed to purchase a small piece of SportsNet New York.

The team is hoping to close a deal by June 30 so it can use the investment cash to fund day-to-day operations and repay some debt.

Image by ElCapitanBSC under the Creative Commons License.

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