Steven Cohen To Buy Minority Stake In Mets

An article by posted on February 2, 2012

According to Bill Shaikin of the Los Angeles Times, billionaire investment manager Steve Cohen, who  is set to become one of the $20 million minority investors in the New York Mets.

The deal would not preclude Cohen from pursuing the Dodgers, according to two people familiar with the transaction but not authorized to discuss it.

Shakin speculates that Cohen’s motivation in buying a 4 percent share of the Mets is to have a “more favorable position” toward reaching majority ownership if Fred Wilpon and family falter. Although Adam Rubin of ESPN does point out that the minority shares have no direct route to a majority stake in the Mets.

Earlier this week it was reported that the Mets are close to finalizing the sale of all ten minority shares and that those deals could close by the end of February.

Cohen, whose net worth is estimated at $8.3 billion by Forbes, is the founder of SAC Capital Advisors, a Connecticut-based investment firm.

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