Steve Cohen has been approved as the new majority owner of the Mets after a vote by the other MLB owners, reports SNY’s Andy Martino.
MLB owners have approved Steve Cohen's purchase of the Mets https://t.co/ScgMTDgeG7 pic.twitter.com/W8YwjfJvYd
— SNY (@SNYtv) October 30, 2020
The 64-year-old Cohen, a hedge fund manager and native of Great Neck whose net worth is estimated to be $14.1 billion, reached an agreement to purchase the team on Sept. 14.
According to Newsday’s Tim Healey, the deal has the Mets valued at “approximately $2.475 billion.”
Fred Wilpon has been the majority owner of the Mets since 2002, when he bought out Nelson Doubleday. Doubleday and Company and Wilpon purchased the Mets from the Payson family in January of 1980.
After an up-and-down saga, Cohen won out in the end after bidding that included one group led by Alex Rodriguez and Jennifer Lopez and another fronted by Josh Harris and David Blitzer.
Once the process with Cohen is finalized,Sandy Alderson will officially take over the role as team president — a pending move Cohen announced on Sept. 24.
“Sandy is an accomplished and respected baseball executive who shares my philosophy of building an organization and a team the right way,” Cohen said in a statement. “I am excited to have Sandy in a key leadership role with the Mets if my purchase of the team is approved. Let’s Go Mets!”
What kind of impact the arrival of Alderson has on GM Brodie Van Wagenen is not yet known.
Kyle leads sports coverage and hosts the Concrete Jungle podcast. Have a lead or question? Send it to [email protected].