Stan Kasten on the Failed Mets Sale

Stan Kasten, former president of the Atlanta Braves and Washington Nationals, discussed the failed sale of the New York Mets to David Einhorn on Bloomberg TV. The potential sale fell through due to differences in vision between Einhorn and the team's ownership group, the Wilpon family. Einhorn had envisioned full control of the team, while the Wilpons wanted to maintain control. The disagreement centered around the "control person" designation required in baseball, which would have ensured the Wilpons retained control even with Einhorn's significant investment.

Key Takeaways:

• The failed sale of the New York Mets to David Einhorn was due to irreconcilable visions between Einhorn and the Wilpon family, the team's ownership group.
• Einhorn had planned to invest $200 million, but wanted full control of the team, while the Wilpons wanted to maintain control.
• The disagreement centered around the "control person" designation required in baseball, which would have ensured the Wilpons retained control.
• Einhorn claimed that the terms of the deal never changed, but the Wilpons and Kasten suggested that the terms changed over time.
• Kasten explained that in baseball, one person must be designated as the "control person," which would have remained the Wilpons even with Einhorn's investment.
• The potential sale was scuttled due to the failure to reach an agreement on the terms of the deal.

Statistics:

• $200 million: the amount David Einhorn was willing to invest in the New York Mets.
• 2: the two sides involved in the failed sale, the Mets and David Einhorn.

Sources:

• Bloomberg TV, "Stan Kasten on the Failed Mets Sale," September 2, 2011.
• Bloomberg, "Mets Sale Fails to Materialize Despite David Einhorn's $200 Million Binding Offer," September 2, 2011 (note: this exact title is not in the provided text, but it reflects the content discussed on Bloomberg TV).