MLB owners approve sale of New York Mets to Steve Cohen
Oct. 30 (UPI) — MLB owners voted to approve the sale of the New York Mets to billionaire hedge fund supervisor Steve Cohen, the league offered Friday.
The proposed prefer of 95% of the Mets by Cohen got the needed 75% of the vote desired to total the sale. The transaction additionally required approval from New York Metropolis mayor Bill de Blasio, who had the remaining explain for the reason that group’s Citi Self-discipline resides on city property.
On Friday, de Blasio talked about the New York Metropolis Law Division executed its review of the pending sale and had no objections.
“New York Metropolis has no objections and the Mets can now proceed with the transaction,” he tweeted.
Since 2002, the Mets’ ownership community became once headed by Fred Wilpon, his brother-in-law Saul Katz and Wilpon’s son, Jeff, who became once the group’s chief working officer. The Wilpon and Katz households will take care of 5% of the group following the sale, which is anticipated to be finalized at some level of the next two weeks.
The sale values the Mets franchise at $2.4 billion to $2.5 billion.
“On behalf of the Wilpon and Katz households, we’re very delighted with the result of right this moment time’s ownership vote,” Wilpon talked about in an announcement Friday. “We’d devour to thank [MLB] commissioner [Rob] Manfred for his leadership and steering by draw of this job. It has been a privilege and honor for our households to come to a decision up been a allotment of this sizable franchise for the previous 40 years.
“We would devour to particular our deep appreciation for our precise and passionate fans, who pick up consistently supported this group by draw of the years. We’d additionally devour to thank the more than a few sizable avid gamers, managers, coaches and dedicated workers with whom we now pick up been privileged to work with by draw of the years, for their dedication to the pursuits of our group, our replace and our community.”
Cohen, 64, is president and CEO of Point72 Asset Administration. A local of Long Island, N.Y., he grew up a Mets fan and is anticipated to make investments heavily in the club to push them into competitors.
In August, Cohen entered into outlandish negotiations to prefer the franchise. A month later, Cohen and the Wilpon and Katz households signed an settlement for him to prefer the group, pending the approval of MLB owners.