Steve Cohen, president and CEO of SAC Captial Advisors LP.
Scott Eelis | Bloomberg | beautiful images
Steve Cohen is officially the owner of the New York Mets.
Major League baseball holders approved Cohen’s purchase of the team from the Wilpon Family worth about $ 2.4 billion on Friday, the union announced.
“I send my best wishes to Fred Wilpon, Saul Katz and Jeff Wilpon and thank them for their long efforts for the Mets,”; MLB commissioner Rob Manfred said in a statement.
“On behalf of Major League Baseball, I congratulate Mr. Cohen on his approval from Major League Clubs. Steve will bring his lifelong passion for the Mets to the managerial role of the home team. , and he will be joined by the respected baseball leadership. I believe Steve will work hard to create a team that Mets fans can be proud of. “
With Citi Field on New York City public land, Mayor Bill de Blasio needed to sign the sale, which he made as soon as MLB approved. The New York Post reported that the city was trying to block the sale of the team to Cohen.
“The New York City Department of Law has completed its legal review of the proposed sale of Mets,” de Blasio said in a statement. “New York City is not opposed to the sale and Mets can proceed with the transaction.”
Yoenis Cespedes of the New York Mets stood in circle on deck in front of cardboard fans during the pre-season match at Citi Field on July 18, 2020.
Al Bello | Getty Images Sport | beautiful images
Cohen’s deal is now officially the most expensive North American sports franchise, beating out David Tepper’s $ 2.2 billion acquisition of the Carolina Panthers in 2018.
Cohen controls a group of Mets that are expected to face losses in excess of $ 100 million this year and next, due to the impact of the coronavirus pandemic, sources told CNBC’s David Faber.
In August, CNBC reported that Cohen had entered into an exclusive negotiation to buy the Mets, beating out a group led by former Yankees star Alex Rodriguez, including signer Jennifer Lopez and founders Bodyarmor and Mike Repole. a Queens native. Philadelphia 76ers co-owner Josh Harris is also interested in buying the MLB football team.
Cohen gave up an initial agreement to buy the Mets when the Wilpon Family attempted to run the club after the sale. The previous deal also included a negative buzz regarding Mets’s regional sports network, SNY, which caused Cohen to initially withdraw from buying an 80% franchise in February.