Steve Cohen Still In It, Wants Significant Say In Running Team

An article by posted on May 12, 2011

Kate Kelly of CNBC reported that billionaire hedge fund manager, Steve Cohen, is still very much involved in purchasing a 49% stake of the New York Mets and has some specific demands.

Steve Cohen has offered to buy a 49 percent stake for about $200 million dollars, which is the cash that the Wilpons and Katz were hoping to raise. But, he does want some board seats in the Mets organization and he wants some significant say over how they do what they do. However, voting control within MLB would remain with the Wilpons, which is something that they have been insistent upon all along, as well as not wanting to sell a majority stake, which gives you sort of the 49 percent number. So, I’m told that talks are at a little bit of a stalemate right now. Cohen is demanding sort of stiffer terms than the organization was originally prepared to offer, but they are not dead. They are still happening and the goal is to get this thing done ASAP.”

It’s really starting to look like this is going to happen.

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