Famed hedge fund manager Steve Cohen to buy majority stake in New York Mets

by Jordyn Pair · Dec 5th, 2019 9:36 am

Last Updated Dec 5th, 2019 at 10:04 am

Hedge fund billionaire Steven Cohen has struck an agreement with Fred and Jeff Wilpon to buy a majority stake in the New York Mets, a move that would give Cohen control over the storied baseball franchise.

The deal would give Cohen an 80 percent stake in the team and would mandate that Fred Wilpon remain as the controlling owner for the next five years and that his son Jeff Wilpon would remain as the team's chief operating officer for the same. Cohen would gain full control of the team in five years.

Cohen currently owns an eight percent stake in the Mets, which he purchased in 2012.