MLB
MLB Approves Mets Sale To Steve Cohen
Earlier today, MLB owners approved of the sale of the New York Mets to Steve Cohen. Cohen needed 23 of the 30 teams to sign off for the deal to be approved. That vote was 26-4. The final sale value of the team was set at $2.4-2.5 billion. Cohen is currently the CEO and president of Point72 Asset Management. Currently, Cohen is now the richest owner in Major League Baseball.
Previously, the Mets ownership group primarily consisted of Fred and Jeff Wilpon. The Wilpons will still retain 5% of the team, with Cohen owning the last 95%. The deal is expected to be finalized within the next ten days. In addition, Cohen also announced former-GM Sandy Alderson would return to the Mets as team president.
Impact Cohen Brings To The Mets
A life-long Mets fan, Cohen’s purchase of the Mets has fans excited. And he is already making huge decisions. Cohen earlier announced that all Mets employees will receive restored pre-pandemic salaries to reverse 5%-30% of salary cuts that began in March. In addition, Cohen plans to dramatically increase donations to the Mets Foundations and prioritize non-for-profits in the Citi Field area. Also, Cohen started a seasonal relief fund that will start Sunday and run through Opening Day. This will help Citi Field employees be eligible for $500 monthly.
de Blasio Gives The Thumbs Up
The announcement was made earlier today that New York City Mayor Bill de Blasio would not object to the sale. In 2014, Cohen’s former company, SAC Capital Partners, was involved in an insider trading case that resulted in $1.8 billion in fines. Cohen himself was not charged in the case. Because of this, there were rumors circulating that the Mayor’s office would object to the sale to Cohen.
Written By Zach Nau
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