NEW YORK -- The New York Mets have agreed to sell less than 49 percent of the club for approximately $200 million to David Einhorn, president of Greenlight Capital Inc., sources close to the deal tell ESPN's Karl Ravech.
The sale will not include a stake in SNY, the television network owned by the Mets, the sources said.
Mets principal owner Fred Wilpon, who became ensnared in the Bernie Madoff Ponzi scheme, is facing a multimillion dollar lawsuit filed by a court trustee seeking to recover money for Madoff's other victims.
The Mets received a loan from Major League Baseball in November to help cover expenses.Wilpon has said the team is "bleeding cash" and could lose $70 million this season. He told Sports Illustrated for its May 30 issue that he fears he could lose the Mets if the trustee for victims of Madoff's Ponzi scheme wins the lawsuit against the team and Wilpon's other interests.
Former New York Gov. Mario Cuomo has been mediating talks between Wilpon and the trustee, Irving Picard.
Information from The Associated Press was used in this report.
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