In three years, hedge fund manager David Einhorn could gain control of the Mets for $1.
Last month Einhorn and New York's owner, Fred Wilpon and Saul Katz, came to terms on a deal in which Einhorn would pay $200 million for a one-third stake in the Mets and would have the right to obtain a 60% interest in three years unless Wilpon and Katz returned the $200 million to Einhorn, but allowed the hedge fund manager to retain his 33% ownership.
A banker familiar with the deal says the "strike price" for the 60% stake is just $1.
Einhorn Could Get Control Of Mets For $1