Mets sale to Cohen is off: MLB commissioner

Bud Selig’s right-hand man picked as new leader of MLB
Posted at 4:16 PM, Feb 06, 2020
and last updated 2020-02-06 16:16:40-05

Baseball Commissioner Rob Manfred says talks have ended over the proposed sale of a controlling share of the New York Mets from the families of Fred Wilpon and Saul Katz to hedge fund manager Steven Cohen.

The Mets said Dec. 4 that the contemplated deal between Sterling Partners ande Cohen would allow 83-year-old Fred Wilpon to remain as controlling owner and chief executive officer for five years.

Cohen bought an 8% limited partnership stake in 2012 for $40 million.

The deal under discussion would have seen him acquire an 80% controlling share in a transaction valuing the team at $2.6 billion.