Billionaire hedge fund manager Steve Cohen is going to relieve the Wilpon’s of majority ownership of the Mets pending MLB approval…
ESPN:
“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in a statement, after signing the agreement.
Cohen also entered negotiations to buy the Mets last year, but the deal fell apart in February. He bought an 8% limited partnership stake in 2012 for $40 million. The deal that failed to close would have seen him acquire an 80% controlling share in a transaction that valued the team at $2.6 billion.
The current Mets ownership group is headed by Fred Wilpon, brother-in-law Saul Katz and Wilpon’s son Jeff, the team’s chief operating officer.
I’m not really into celebrating a billionaire buying himself majority ownership for a new toy considering sports franchises are nothing more than a status symbol to the biggest exploiters in the World. This seemed pretty noteworthy though considering Cohen’s pending purchase ends any possibility of A-Rod and J-Lo having anything to do with the Mets.
So there’s theres that.
