Report: Hedge Fund Billionaire Steven Cohen Bidding For Stake In Mets

NEW YORK (WFAN/AP) — Add another name to the Mets’ ownership mix.

According to the Wall Street Journal, billionaire hedge fund manager Steven A. Cohen “has joined the bidding for a minority stake” in the club.

Hounded by a multimillion dollar lawsuit filed by the trustee trying to recover money for victims of the Bernard Madoff scheme, Fred Wilpon, his son Jeff, and Saul Katz are trying to sell a portion of the Mets. The owners are seeking $200 million for a partial stake in the franchise.

Cohen is the founder of SAC Capital Advisors LLC. Forbes magazine values the company at $7.3 billion.

The hedge-funder has something else going for him: A social relationship with the Wilpons, according to the Journal.

The New York Times also reported Cohen’s bid on Tuesday.

“Wilpon and Katz, after soliciting a range of bids, have narrowed their list of potential partners to three,” the paper reported. “And according to people with knowledge of the negotiations, Cohen is again in the mix, perhaps even the preferred bidder.”

The Mets announced in January they were looking to sell a non-controlling interest in the team to raise several hundred million dollars. Fred Wilpon insisted then — and insists now — his family would remain in control of the team.

Mets fans: How would you react if Cohen won the bidding? Let us know in the comments below…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

  • Tony

    I say sell the team to the Steinbrenner’s. They would know enough to send ALL of these amateurs back to the minors where they ALL belong,…including Wright and Reyes,…YEAH THAT’S RIGHT, I SAID IT!! Then they could have Cashman (who knows what he’s doing) bring up pro-level players so we can have some real rivalry and competitiveness in this great city! Instead of having one team in a league of their own and the other on par with the little league!! Met fans aren’t those who are for underdogs,…they’re more for wannabe’s!

  • Jayee

    The care for Cohen,you need to boost moral in your fan base and DONALD TRUMP would of been a perfect fit to bring the Mets to the next level.If Cohen get it its strictely a financial favor.

  • fred

    sell TRUMP 51% and watch the value of the team and the interest sky rocket!!!

  • TDeLisle

    I would say to the Wilpons, why stop there? sell him the whole team, duh.

  • Nelson

    If someone buys a minority stake of the team, will that money be properly used to kepp Jose

  • Ricg from Lake Como

    Oh, great…. first Madoff, now a hedge fund multi-millionaire. Cash the check quickly….

  • dabooch

    Jose’- Jose’ will be gone come August along with Beltran. Are the BoSox interested in one Jason Bay?

  • nboone77

    Well if he (Cohen) wins, what was the purpose for it all. You know he probaly was in the background either strong arming the Wilpons or The Wilpons strong arming him, who knows. That whole group of guys are now suspect. Bottom line if Cohen wins it’ll seem more like a favor with some extra benefits coming his way,not involving the Mets. Only time will tell. The Media will make win an important figure even if the Mets don’t, so if he’s questioned and gives out of the loop answers, sorta speak,if Ed Coleman knows more than he does, tehn we know it was a scratch my back now and I’ll scratch your’s later

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