Steve Cohen In Talks To Increase Investment In Mets

Tanya Simon
December 5, 2019

A year after purchasing a stake in the team, In 2013, SAC Capital, agreed to pay $1.8 billion to settle charges that it tolerated insider trading.

Cohen raised $5 billion from outside clients when he turned Point72 from a family office into a hedge fund a year ago.

Cohen, 63, is CEO and President of Point72 Asset Management, and he will continue in those roles.

Mets fans will just be happy if Cohen's new association with "billions" becomes the vast amounts he begins spending on top-flight talent.

Fred Wilpon and Nelson Doubleday purchased the Mets in the 1980s before the Wilpons bought him out in 2002.

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The Athletic's Ken Rosenthal reports that The Sterling Partners and Steve Cohen, current minority stakeholders of the Mets, plan to increase their investment in the team, eventually resulting in becoming majority owners in five years.

According to a person familiar with the Mets deal, Cohen is negotiating to buy an 80% stake that values the team at a baseball-record $2.6 billion.

According to Spotrac, the Mets were outside the top 11 in payroll in every year from 2012 to 2018, plunging as low as 20th in 2014, below the likes of the Cincinnati Reds, Milwaukee Brewers, Kansas City Royals and Colorado Rockies. While he has had success in the world of finance, he's also had his share of problems. At that point, in for a dime, in for a dollar, right? "As part of that agreement, Fred Wilpon will remain in the role of the Control Person and CEO for five years and Jeff Wilpon will remain in his role as Chief Operating Officer for the 5 year period as well".

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