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Steve Cohen Acquires New York Mets, MLB Approves Contract

Steve Cohen, Chairman and Chief Executive Officer of SAC Captial Advisors LP.

Scott Iris | Bloomberg | Getty Images

Steve Cohen is officially the owner of the New York Mets.

Major League Baseball owners have approved on Friday that Cohen bought the team from the Wilpons for about $ 2.4 billion, the league said.

“We sincerely pray to Fred Wilpon, Saul Katz and Jeff Wilpon, and thank them for their long-standing efforts towards the Mets,” MLB Commissioner Rob Manfred said in a statement.

“On behalf of Major League Baseball, I congratulate Mr. Cohen for his approval from the Major League Baseball. Steve brings his lifelong passion for Mets to the stewardship of his home team, and he is a highly respected baseball player. Steve will work hard to create a team that Mets fans can be proud of. “

Mayor Bill de Blasio had to approve the sale because of Citi Field on public land owned by New York City. This was done shortly after MLB approved it. The New York Post reported that the city is trying to prevent the team from being sold to Cohen.

“The New York City Legal Affairs Department has completed a legal review of the Mets sale proposal,” De Blasio said in a statement. “New York City does not oppose the sale and Mets can proceed with the deal.”

Yoenis Cespedes of the New York Mets stands in the deck circle in front of cardboard fans during the pre-season match at Citi Field on July 18, 2020.

Al Bello | Getty Images Sports | Getty Images

Cohen’s deal is currently the officially most expensive purchase of a North American sports franchise, surpassing David Tepper’s acquisition of Carolina Panthers for $ 2.2 billion in 2018.

Cohen manages the Mets team, which is expected to face losses of well over $ 100 million this year and next, given the impact of the coronavirus pandemic, sources told CNBC’s David Favor. It was.

In August, CNBC reported that Cohen had entered into exclusive negotiations to buy Mets, a group led by signator Jennifer Lopez and former Yankees star Alex Rodriguez, including body armor founder and Queens-born Mike Lipole. Defeated. Josh Harris, co-owner of the Philadelphia 76ers, was also interested in buying an MLB team.

Cohen withdrew from the original deal of buying Mets when the Wilpons tried to run the club after the sale. Cohen first canceled the purchase of 80% of the franchise in February, as previous deals also contained unfavorable words about SNY, Mets’ regional sports network.

Steve Cohen Acquires New York Mets, MLB Approves Contract

Source link Steve Cohen Acquires New York Mets, MLB Approves Contract

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