Billionaire Steve Cohen agrees to buy the New York Mets (updated)

Avante

14/09/2020 23:54

(Adds background)
    Sept 14 (Reuters) - Billionaire hedge fund manager Steve
Cohen has reached an agreement to buy the New York Mets baseball
team from its owners, Sterling Partners said in a statement on
Monday.
    "I am excited to have reached an agreement with the Wilpon
and Katz families to purchase the New York Mets," Cohen said. 
    A spokesman for Cohen declined to comment beyond the
statement. 
    Newsday reported that Cohen will own 95% of the franchise,
with the deal valuing the club at approximately $2.475 billion,
a record amount for a North American sports team.
    An infusion of cash from Cohen could help the Mets become
World Series title contenders. The franchise, which was founded
in 1962, has won two titles, the last one coming in 1986.
    The deal will require the approval of at least 23 of the
other 29 team owners when MLB holds a vote, which could come at
the owners' meetings in November, Newsday reported.

 (Reporting by Noor Zainab Hussain in Bengaluru, Svea
Herbst-Bayliss in Boston and Rory Carroll in Los Angeles;
Editing by Arun Koyyur and Tom Brown)
 ((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780;
Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))