Steve Cohen in 'exclusive talks' to buy New York Mets: report
Cohen, whose net worth is approximately $14 billion, would become Major League Baseball’s richest owner
It looks like the New York Mets may have a new man in charge sooner rather than later.
Steve Cohen, the billionaire hedge fund manager, is reportedly close to becoming the new owner of the team, according to Sportico. Cohen is in “exclusive talks” in buying the club from the Wilpon and Katz families.
Allen & Co., an investment bank which is overseeing the sale, declined to comment, and a spokesman for Cohen also declined to comment on the situation, per the website.
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The Mets are currently valued at $2.6 billion. The sale of the team reportedly doesn’t include SNY, the Mets’ regional sports network, according to Sportico.
Cohen, whose net worth is approximately $14 billion, would become Major League Baseball’s richest owner. If he does indeed buy the team, Cohen, who grew up a Mets fan in Great Neck, New York, would fulfill his lifelong dream of buying the team. Cohen currently holds an 8 percent stake in the Mets, but his purchase would need to be approved by fellow league owners. There would need to be 23 votes in favor of the proposed deal, Sportico reported.
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The final bidding groups for the Mets were down to three.
Josh Harris and David Blitzer, who are owners of the Philadelphia 76ers and New Jersey Devils, were one group, and former baseball star Alex Rodriguez led a group, which included Florida Panthers owner Vinnie Viola and Vitamin Water co-founder Mike Repole. Rodriguez’s group reportedly pulled out of the bidding on Friday.
Final bids were submitted Monday, Sportico reported.
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Back in December, Cohen was close to buying the team, but negotiations fell apart. Cohen will now look to possibly take control of a team starving for its first World Series title since 1986. Since then, the Mets have reached the World Series twice, but they lost both.
The last time the Mets made the postseason was back in 2016.