Posted by Sabrina B. @gametimegirl

The New York Mets have agreed to sell less than 49 percent of the club to David Einhorn, president of Greenlight Capital Inc., for approximately $200 million, sources close to the deal tell ESPN’s Karl Ravech.

The sale will not include a stake in SNY, the television network owned by the Mets, the sources said.

Einhorn, a hedge fund investor, co-founded Greenlight Capital in 1996 and is the author of “Fooling Some Of The People All Of The Time,” a book about his battle with private investing firm Allied Capital.

Mets principal owner Fred Wilpon, who became ensnared in the Bernie Madoff Ponzi scheme, is facing a multimillion dollar lawsuit filed by a court trustee seeking to recover money for Madoff’s other victims.

The Mets received a loan from Major League Baseball in November to help cover expenses.

Wilpon has said the team is “bleeding cash” and could lose $70 million this season. He told Sports Illustrated for its May 30 issue that he fears he could lose the Mets if the trustee for victims of Madoff’s Ponzi scheme wins the lawsuit against the team and Wilpon’s other interests.

Former New York Gov. Mario Cuomo has been mediating talks between Wilpon and the trustee, Irving Picard.

A Cornell graduate, Einhorn serves on the boards of Hillel, The Michael J. Fox Foundation for Parkinson’s Research and the Robin Hood Foundation. He donated his 2006 World Series of Poker winnings of $659,730 to the Fox foundation.

Einhorn made financial news on Wednesday, telling an investment conference audience that Microsoft Corp.’s board of directors should replace CEO Steve Ballmer. According to SEC filings, Greenlight owns nearly 9.1 million shares of the software giant.

–ESPN