Report: Billionaire Steven Cohen Front-Runner For Stake In Mets

NEW YORK (WFAN/AP) — The Mets’ partial ownership drama is drawing to a close, with billionaire hedge fund manager Steven A. Cohen in the lead to claim a minority stake in the franchise, according to the New York Post.

“(Cohen) was set to meet last night with the Mets owners at 8 pm at Gabriele’s Steak House in his hometown of Greenwich, Conn., to discuss the potential deal,” reported the paper.

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

Cohen wants it,” said The Post’s source. “What he wants he gets. It’s a trophy to him but not just a trophy. In time, it can be a real asset.”

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.

The New York Times first reported Cohen’s bid last month.

“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 This material may not be published, broadcast, rewritten, or redistributed.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.)

  • Bob

    Why doesn’t Donald Trump toss aside his wacky political ambitions and join Steven Cohen and together purchase 100% percent of the Mets? This duo will make the Mets true contenders once again.

  • Tommy

    Get back in there and SELL, SELL, SELL!!!

  • bob mason

    why does the common blue coller woker care who owns a part of the mets,or berrnie maddoff problem. it still cost too much to bring a family of 4 whom love baseball a to see a live game ,and show our children the joy of being at a ball park. we need to keep our kids intrusted to the sport,not how much it cost.

    • joey

      its called SNY, watch it

  • Anil K

    Does anyone else find it interesting that it went fro 20%-25% of the team to now being 49%. I’m not sure how selling a non-controlling interest in the team to raise several hundred million dollars helps the Wilpons long term. Seems more like a temporary solution. What happens when the $200 runs out?

    A note to Fred, Jeff & Saul: If you care about the team, the fans or NY (all of which have made you extremely rich) sell the team (at least a majority of it) and walk away with some dignity.

    • floyd bannister

      i couldn’t agree more………….SELL CONTROLLING INTEREST AND GET OUT!!!

  • Matt

    From your mouth to god’s ears.

  • Pete Spaz

    Why bail out the wilpons? They clearly don’t know how to run a team, except into the ground… as a Mets fan I am so depressed that as long as the wilpons own the team I know they are going nowhere.

  • wallyhorse

    Personally, if I were Selig, I would steer this if Mark Cuban wanted to buy the Mets in whole from the Wilpons, I would do that. At this time, I would look at making the Wilpons sell the Mets entirely.

    • Bob W

      Why doesn’t Donald Trump toss aside his wacky political ambitions and join Steven Cohen and Mark Cuban and purchase 100% of the Mets? This trio would turn the Mets into true contenders once again.

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