Einhorn, the manager of the Greenlight Capital hedge fund, confirmed on Thursday that his plans to purchase a significant minority stake in the Mets for US$200 million had fallen through. “I am disappointed to announce that I will not be purchasing an ownership interest in the New York Mets baseball team at this time,” Einhorn said in a statement.

“It is clear that it will not be possible for me to consummate the transaction on the terms that the Sterling-Mets organization and I originally agreed to several months ago,” Einhorn said. The Mets have been seeking an injection of funds and according to reports Einhorn would have had the option of increasing his stake to a controlling shareholding of roughly 60% in three to five years.

In other MLB news, Los Angeles Marathon founder Bill Burke has refused to comment on reports that he has offered to buy the beleaguered Los Angeles Dodgers franchise in a $1.2 billion deal. The proposed takeover, which is reportedly part-funded by Chinese investors, was reported by The Los Angeles Times.

According to a letter seen by the newspaper from Burke to current owner Frank McCourt, the bid would expire in 21 days with the aim of closing the deal within 90 days. The Dodgers entered bankruptcy protection in June with McCourt blaming the League for refusing to approve a TV deal with Fox Sports.