All Mets Shares Sold?

Added by Eddie Utley on February 6, 2012.

I’ve been wondering why there was all this talk of the Mets selling their shares and now we have an answer.

Time Warner and Comcast will be financing the last four shares for SNY which is basically the Mets buying a share of their own team but in a way that they still retain some ownership of the team if the team has to be sold.

So SNY would own 16% of the Mets and the Mets own 70% of SNY. Time Warner and Comcast own the other 30% and do have an interest in seeing the Mets do well.

So in essence the Mets would not have sold the shares like many of us believed but they found a way to do it. If only they found a way to keep Reyes.