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Steve Cohen agrees to become the next majority shareholder of Mets



the MetsSterling Partners said in a press release on Monday. “Data-reactid =” 23 “>Steve Cohen, a billionaire hedge finance manager and New Yorker-born, agrees to buy the Mets, Sterling Partners said in a news release Monday.

Tim Healey from Newsday, the deal has valued the Mets at “approximately $ 2.475 billion.” If that number is true, it would be a record for a North American sports team after the NFLs Carolina Panthers was bought by David Tepper for $ 2.275 billion. “data-reactid =” 24 “> According to Tim Healey from Newsday, the deal has valued the Mets at “approximately $ 2.475 billion.” If that number is true, it would be a record for a North American sports team after David Tepper bought the Carolina Panthers from the NFL for $ 2.275 billion.

“I am delighted to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in the statement.

Cohen will own it pending MLB approval. Fred Wilpon is the largest owner since 2002 when he bought Nelson Doubleday.

During a nine-month rollercoaster, Cohen’s first bid to buy a majority stake was announced by Sterling Partners and Cohen Private Ventures in a Dec. 4 statement. But the offer was in jeopardy and was eventually abandoned two months later after a snag.

MLB – non-Mets – sources with knowledge of the Cohen negotiations said it was not the five-year transfer of power that was at stake, according to SNY’s Andy Martino, who reported that part of the transaction was a written agreement. months before the talks were cut off.

Bloomberg reported at the time that in the wake of the failed negotiations with Cohen, there would be ‘no conditions for control of the team’ as part of the next sale, meaning that whoever becomes majority shareholder is likely to be in full control once the sale is over. rounded. .

In June, Jeff Wilpon provided an update on the team’s potential sale, and Allen & Company – the company handling the sale – had set July 9 as the date for groups to submit bids, including Cohen.

Cohen – born in Great Neck, NY – is an investor and hedge fund manager who founded SAC Capital Advisors and Point72 Asset Management. He had bought a minority stake in the Mets in 2012 and owned eight percent.

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