According to The Post, David Einhorn and the Mets are on track to close the book on their minority ownership deal by the end of August with a restructured half-loan, half-cash agreement. The catch?
A deal still isn’t done between the Mets and potential minority owner David Einhorn. So what’s taking so long? According to the New York Post, the delay is “because lender JPMorgan Chase is not letting the team structure the deal as a loan.”
According to the Wall Street Journal, attorneys for Irving Picard have informed Mets owners Fred Wilpon and Saul Katz that additional allegations about amounts invested with Bernard Madoff will be added by March 18 if they fail to reach a settlement.
There may be more trouble in Flushing. According to the New York Post, the Mets are “desperately” seeking a second loan to offset operating expenses.
JPMorgan Chase, the bank where Bernard Madoff kept his clients’ money, said in a court filing Tuesday that it had no legal obligation to figure out that the Ponzi king’s investment scheme was a fraud.
E-mails and other internal documents show that executives at JPMorgan Chase were complicit in Bernard Madoff’s massive fraud, lawyers seeking to recover funds for his victims said Thursday.