Originally posted on Mets Merized Online  |  Last updated 1/10/12
The Mets are close to finalizing the sale of at least five $20 million shares in the team, a move that would help pay off $350 million in club debt, baseball officials familiar with the transactions told the Daily News. Major League Baseball has vetted and approved the investors, and the team is expected to close those sales and raise more than $100 million within the month, the officials said. The Mets will likely look to sell at least five additonal minority shares for another $100 million and could expand that total, according to sources. The process, described by one source as “rolling,” has no set conclusion or limit on how many shares will be sold. Coincidentally, this morning Jessep asked me about this via email: Mike – If they dont have investors soon I dont understand how they can possibly hang onto this team after LAD is sold. Joe D. - They have at least five investors, the only thing is that the deals are still being negotiated and wont get done by January. That’s why i...
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