Report: Steve Cohen backing out of purchasing majority stake in Mets
In December, billionaire hedge fund manager Steve Cohen was reportedly in talks to purchase a majority stake for $2.6 billion. He already had a minority stake. According to Thornton McEnery of the New York Post, that deal is now “on life support.”
Cohen is apparently unhappy that the Wilpons -- the current owners of the Mets -- changed the terms of the deal at the last minute. As a result, Cohen has decided not to go through with the deal. He had been expected to take control by 2025.
The Mets put out a vague statement earlier today in response to rumors about the deal following through. It read, “The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment.”
It’s been an interesting offseason for the Mets, to say the least. Along with an expected change in ownership, the club hired and then had to fire manager Carlos Beltrán for his involvement in the Astros’ 2017 sign-stealing scandal.