4 years agoSteve Cohen, the billionaire hedge fund manager of Point72 Asset Management, has signed an agreement with Sterling Equities to buy a majority stake in the New York Mets. The transaction is subject to the approval of the other Major League Baseball owners and is worth slightly more than $2.4 billion. Once ratified, Cohen will own 95% of the team, with the Wilpon family retaining 5% ownership. This will effectively end the Wilpon family's control of the Mets which began 34 years ago. With the Wilpon ownership over, Mets fans are cautiously optimistically that Cohen will have both the resources and immense desire to invest in top-tier free agent talent while also retaining expensive homegrown talent. Once ratified by the other owners, Cohen, a lifelong Mets fan, will immediately become the richest MLB owner.--Nick Ritrivi - RotoBaller
Source: Anthony DiComo on Twitter