The Mets are in talks to sell 80% of the team to billionaire hedge fund manager Steve Cohen

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  • The New York Mets’ owners are in talks to sell up to 80% of the team to billionaire hedge fund manager Steve Cohen, Bloomberg reported Wednesday.
  • The deal would value the baseball team at $2.6 billion, and the Mets confirmed the discussions in a statement obtained by Bloomberg.
  • The Wilpon family took control of the team in 2002 and would retain a stake in the Mets should the deal go though, the report said.
  • Cohen would remain CEO of hedge fund Point72 Asset Management, according to Bloomberg.
  • Visit the Business Insider homepage for more stories.

The New York Mets’ owners are in talks to sell up to 80% of the team to billionaire hedge fund manager Steve Cohen, Bloomberg reported Wednesday afternoon, citing a person familiar with the potential deal.

Cohen already holds a stake in the Major League Baseball team, and would receive a path to control the franchise, according to Bloomberg. Principal owner Fred Wilpon would remain in the head role for at least five years, and his son, Jeff Wilpon, will keep his job as the team’s chief operating officer over the same period.

The deal would value the team at $2.6 billion, Bloomberg reported. The Mets confirmed the discussions in a statement obtained by Bloomberg.

Should the deal go through, the Wilpons would retain a stake in the team, according to Bloomberg. Fred Wilpon is considering the deal as part of estate and philanthropic planning, the anonymous source said.

Cohen would remain CEO of hedge fund Point72 Asset Management, Bloomberg reported. The chief executive has a net worth of $9.2 billion and ranks 168 on the Bloomberg Billionaires Index.

The Wilpon family took control of the Mets in 2002.

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