Steven Cohen To Buy Minority Stake In Mets

15 Comments + Add Comment

• jessep February 2, 2012 at 9:06 am

  Hojo or Joe D:

  These minority shares, do you know for sure if the people who invest are given 1st opportunity to bid on the Mets should there ever be a sale?
• srt February 2, 2012 at 8:50 am

  Interesting….I had read previously that Cohen was one of those who made it through round 1 on buying the Dodgers. Surprised they wouldn’t consider this a conflict of interest.
  • NJstuckinTX February 2, 2012 at 8:58 am

    my understanding is that he’ll have to sell his 20 million stake should he be allowed to purchase the Dodgers.
    • srt February 2, 2012 at 9:14 am

      Ah…makes sense.
    • trs86 February 2, 2012 at 9:14 am

      Indeed.
• Steve S. February 2, 2012 at 8:52 am

  So he’s helping the Wilpons keep the Mets, but perhaps hoping that giving them $20 million will help him become the majority owner if they “falter”? Why not just wait until they “falter”—and then bid to become majority owner?
  • XtreemIcon February 2, 2012 at 9:10 am

    It’s highliy unlikely they’ll ever “falter.”
  • trs86 February 2, 2012 at 9:12 am

    Could be because the Mets are basically offering a hefty return for little or no risk.
    • any February 2, 2012 at 5:18 pm

      that, and investors perceive the mets as a valuable property selling at a discount.

      Why people keep presenting this as rich guys helping the wilpons, giving them money, etc. is confusing to me. they investors are buying a stake in the team. And you don’t often get a chance to buy into a major market MLB franchise at a discount.
• srt February 2, 2012 at 9:57 am

  Wait…I’m reading Sterling Equities is buying at least 3 of these shares.

  Nothing like loaning yourself some money….
  • Fonzie13 February 2, 2012 at 5:06 pm

    Is that true srt???
• Joey D. February 2, 2012 at 7:31 pm

  I too thought ownership in more than one club was deemed a conflict of interest and it was against the bylaws of MLB. I doubt Selig has the legal authority to bend the rules in that manner, even for his personal friends.

  But at this point, Cohen is only pursuing the Dodgers so there is no conflict at the moment. But if he finds himself close to a deal, he will have to give up his four percent minority ownership with the Mets. And if that is the case, what about the $20 million he paid to Fred and Jeff?
  • XtreemIcon February 2, 2012 at 7:38 pm

    From what I understand, that $20 million is with the Mets for good. Cohen is responsible for selling his stake on his own.
    • Joey D. February 2, 2012 at 10:49 pm

      That’s what I thought. If he can’t sell it for $20 million, then he takes what he can get and suffers the loss.
• jdon February 2, 2012 at 7:44 pm

  another dodger lover buying into the mets. good grief!