Billionaire Steve Cohen Makes $2 Billion Offer To Buy New York Mets
There have been rumors for a while now regarding who will buy the New York Mets from Fred Wilpon and his family. On Thursday, it appeared that a clear front runner emerged.
Hedge fund manager and billionaire Steve Cohen, according to reports, has submitted an offer Thursday to the Wilpons to buy the team for $2 billion, as well as an additional $2 billion for the club’s 65% stake in SportsNet New York (SNY). Cohen has been a part of a group of bidders for the franchise which included Alex Rodriguez and Jennifer Lopez, the Reuben brothers and Josh Harris and David Blitzer.
Cohen currently holds an 8% stake in the Mets, he had a deal with the Wilpons back in December. That agreement would have increased Cohen’s stake in the team up to 80% for $2.6 billion. The deal fell through however as Cohen was not happy with the Wilpons trying to alter the terms of the agreement at the last minute.
Since 2012, the Mets have ranked in the middle third or worse of baseball in terms of payroll. If Cohen becomes the owner, Mets fans should expect that to change.