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Steve Cohen Newsbeat

Monday, September 14, 2020

Done deal! Steve Cohen agrees to buy the Mets | Sale details, final price tag

It took a while, much longer than anyone anticipated. But billionaire hedge fund manager Steve Cohen has a deal in place to buy the New York Mets. Sportico broke the details on Monday, based on information from a person with direct knowledge of the sale.

The person was granted anonymity because the deal isn’t signed, though an announcement will be made later today. Allen & Co., which is overseeing the sale, declined to comment. Cohen will own 95% of the team, with the Katz and Wilpon families retaining the other 5%. While financial terms of the agreement haven’t been disclosed, two people with knowledge of the deal have said the sale values the team at about $2.42 billion. That would make it the most paid for an MLB franchise, topping the $2.15 billion paid for the Los Angeles Dodgers and surrounding real estate.

RoyalsRetro (AG#1F) Posted: September 14, 2020 at 05:36 PM | 27 comment(s)
  Beats: mets, steve cohen

Friday, August 28, 2020

Steve Cohen closes in on buying Mets

Steve Cohen is close to buying the Mets — again.

The billionaire won the bidding on the right to purchase the team, according to The Post’s Thornton McEnery. Cohen is now in exclusive negotiations with the Wilpons and Katz families to complete the purchase.

The group that posed the greatest threat to Cohen — led by former Yankee Alex Rodriguez and entertainer Jennifer Lopez — announced it pulled out of the process late Friday night.

This is Cohen’s second chance to purchase the team for which he is a fan. He saw a deal with the Wilpons fall through in February because the current owners wanted to maintain organizational control for five years. Team COO Jeff Wilpon, who complicated the initial deal worth $2.6 billion, was not part of negotiations the second time around, The Post reported.

Cohen was expected to bid more than $2 billion this time and beat out a group led by Rodriguez and Lopez and another by 76ers and Devils owners Josh Harris and David Blitzer.

RoyalsRetro (AG#1F) Posted: August 28, 2020 at 11:28 PM | 1 comment(s)
  Beats: mets, steve cohen

Friday, July 10, 2020

Steve Cohen puts in $2B bid on Mets, Alex Rodriguez-Jennifer Lopez still in hunt

The first round of bids for the Mets are in — and for starters Steve Cohen appears to have made the highest offer.

Cohen, the hedge-fund billionaire who had previously offered $2.6 billion only to see the deal fall apart at the 11th hour, delivered the Wilpons an offer for $2 billion this time, according to a Fox Business report. That report stated Cohen is also willing to offer an additional $2 billion to also acquire SNY.

Cohen’s bid wasn’t the only one to come in before Thursday’s deadline.

Alex Rodriguez and Jennifer Lopez have their necessary funding and made a bid that is likely good enough to keep them in the game, sources told The Post.

The former Yankee slugger’s bidding group offered around $1.7 billion, two sources close to the situation said.

RoyalsRetro (AG#1F) Posted: July 10, 2020 at 09:03 AM | 4 comment(s)
  Beats: alex rodriguez, mets, steve cohen

 

 

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