NEW YORK, N.Y. (NCC News) – After months of negotiation, the New York Mets have finally been sold.
Billionaire hedge fund manager Steve Cohen, a lifelong Mets fan, has agreed to buy the club from its current owners, the Wilpon and Katz families.
According to Newsday, Cohen will own 95 percent of the team if the deal is approved by Major League Baseball owners. The sale reportedly values the Mets at $2.475 billion.
“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 released by the team.
Cohen, already a minority owner of the club, had originally agreed to buy 80 percent of the team in February before the deal, which valued the team at $2.6 billion, fell through.
A group led by singer Jennifer Lopez and former MLB star Alex Rodriguez was also involved in negotiations to purchase the club.
The sale must be approved by 23 of MLB’s 30 owners before Cohen takes control of the team.
Cohen is CEO and President of Point72 Asset Management. According to Forbes, he has a net worth of $14.6 billion. If approved, Cohen would be the richest owner in MLB history.
