The Wall Street Journal has identified Bob Pittman and Kenneth Lerer as two minority investors in the team, although the report states that combined they did not purchase a full $20 million, 4 percent share. Writes Brian Costa in the Journal:
Pittman is CEO of Clear Channel Media Holdings. Lerer is manager of Lerer Ventures, a seed stage venture capital fund, and a co-founder of the Huffington Post. His investment was made with personal funds, the person said. Pittman and Lerer, a longtime friend of Mets principal owner Fred Wilpon, purchased only a portion of a 4% stake in the team. It’s unclear how much they invested or how many other investors chipped in with them.