Now it is up to the other 29 major league owners to decide whether Steve Cohen will be the next owner of the Mets.
Cohen and the Wilpons reached an agreement on the sale of the team on Monday, the Mets announced.
The price according to sources was between $ 2.4 and $ 2.45 billion, a record for a North American sports team. The previous score was set by another hedge fund billionaire, David Tepper, when he bought the Panthers for $ 2.275 billion in 2018.
This means that the next hurdles are that Cohen is being reviewed by an owned subcommittee who will then recommend to the larger group whether to accept Cohen into their club. All owners are expected to vote before November and Cohen would need 23 years to succeed Fred Wilpon, Jeff Wilpon and Saul Katz as the majority owner of the Mets.
“I am thrilled to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,”
The hedge fund billionaire is a polarizing figure and there is no guarantee that he will garner the necessary votes. His company paid $ 1.8 billion in fines for insider trading and is currently being sued for gender discrimination.
However, money often wins. Cohen is worth around $ 14 billion and owners generally like it when franchises sell at high prices because it also affects their valuations.