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Mets sale to Cohen is off: MLB commissioner

Posted: 4:16 PM, Feb 06, 2020
Updated: 2020-02-06 16:16:40-05
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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.