Hedge Fund Magnate Wants a Bigger Part of the Mets

December 9, 2019 James Heinsman In the News

Courtesy NY Mets

Steve Cohen, CEO of Point72 Asset Management, is in negotiations with the current owner of the major league baseball team, the New York Mets, to increase his stake in the ball club. The Mets are currently owned by Sterling Partners.

“The Sterling Partners and Steve Cohen are negotiating an agreement in which Steve Cohen would increase his investment in the New York Mets,” the companies jointly stated.

The agreement will keep Fred Wilpon, the chairman and co-founder of Sterling Partners, as the CEO of the Mets for five years, and his son will remain as COO. Sterling owns a majority of the Mets’ shares. Cohen will stay as CEO of Point72, and his share will still be managed by his family fund, Cohen Private Ventures.

One news outlet said that Cohen could eventually end up with 80% of the Mets’ shares. In April Forbes valued the Mets at $2.3 billion.

Fred Wilpon, New York Mets,

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