According to a report from Fox Business Network’s Charles Gasparino, New York Mets COO Jeff Wilpon is set to sell the club to billionaire hedge fund manager Steve Cohen in a transaction that will surpass the $2.3 billion threshold.
“Cohen and the Mets are said to be finalizing paper work on his purchase of the team. The deal will be voted on at a special owners meeting in November, and MLB execs say every indication is that Cohen gets approved,” Gasparino wrote via Twitter.
Cohen, a lifelong New York Mets fan, has long wanted to purchase the team and had a bid fall apart at the beginning of the year due to differences with the Wilpons. He made another push to acquire the club and earned the right to have exclusive negotiations in August.
Cohen is set to own the Mets at last, but…
He beat several groups of bidders for the right to negotiate exclusively, including Alex Rodriguez – Jennifer Lopez and Josh Harris – David Blitzer, among others.
However, A-Rod and Lopez, his fiancée, still hold out hope that they could have a bid to buy the Mets approved, according to the New York Post.
In their renewed pitch, Lopez would be the control person. Per the Post:
“As part of their pitch, the duo said Lopez (not A-Rod) would be the control person for the team, which would make her the first Latina woman to be in such a position in MLB. It would also remove the question of whether the polarizing Rodriguez could get ownership approval. In addition, Lopez and Rodriguez told The Post their bid was either similar or better than the $2.35 billion bid by Cohen, that they would guarantee a World Series win within a decade or donate $100 million to New York charities and that the intention was to raise the payroll to the $225 million range and, in Rodriguez’s words, “compete for a World Series championship every year. That is what New York fans deserve.”