Wealthy hedge fund manager Steve Cohen has penned an agreement with Sterling partners to purchase New York Mets baseball team. This deal was announced in a joint statement by both parties.
“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” said Cohen.
The 64 year old billionaire is a lifetime New York Mets fan and currently owns 8% stake in the club however after the deal has been closed he will be owning 95% stake in the club.
New York Mets is currently valued at around $2.475 billion, this valuation is the highest ever for any North American sports team.
Back in November the billionaire tried to purchase additional stake in the company but the deal didn’t go through. Nonetheless after the current deal is closed he will be the richest person to ever own the baseball club.
Pop star Jennifer Lopez and her husband Alex Rodriguez, a former New York Yankees, had made a bid to purchase the club, however they have confirmed being no longer interested in the purchase.
For the deal to sail through it will need approval of at least 23 of the remaining 29 club owners when MLB holds a voting session. The voting could be held in November during an owners meeting.