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Report: David Einhorn Could Gain Controlling Stake in Mets for $1

Are the terms of David Einhorn's purchase of a stake in the Mets even more favorable to the hedge-fund manager than we'd previously thought? You'll recall that a few weeks back, it was reported that Einhorn's $200 million — the cash the Wilpons so desperately need — would buy him a 33 percent stake in the team. And it was also reported that he'd have the option to up his stake to 60 percent in three years, but that the Wilpons could block that by returning his $200 million and allowing him to keep a minority stake in the club. (The Mets at the time released a statement saying that there was "uninformed speculation" going around and that the details were confidential.) But Forbes today reports on what exactly Einhorn would have to pay to up his stake to 60 percent: one dollar. If it's true, it's quite the gamble for the Wilpons, who are essentially betting that they'll be in much better financial shape in three years. Because otherwise, Einhorn could gain the controlling stake in their beloved Mets for less than the price of a pack of baseball cards. Having said all that, however, CNBC's Darren Rovell cites a source who calls the Forbes report "nonsense." [Forbes]

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