Setting a new record for sales in North America, hedge fund manager Steve Cohen has purchased the New York Mets from Fred Wilpon for just under $2.5 billion.
Major League Baseball must approve the sale, which the New York Post's Joel Sherman reports would eclipse the previous record of $2.275 billion for the sale of the NFL's Carolina Panthers.
Cohen had attempted to purchase the franchise earlier this year. After the deal fell through, the Mets entertained other offers, including one from high-profile power couple Alex Rodriguez and wife Jennifer Lopez.
The former Major Leaguer and his actress wife eventually dropped out of the bidding war, bringing the focus back to Cohen, who appears to have closed the deal.
The sale becomes final if at least 23 of the league's 30 owners vote to approve, which is slated to happen sometime in November.