Steve Cohen Hedges Dodgers Deal With Mets Stake, Order Of Fleece-Lined Jock Straps For The Whole Team

Author:
Publish date:
Updated on

The Mets have received commitments from billionaire hedge-fund investor Steve Cohen and six other investors to purchase $20 million minority shares in their embattled club, sources familiar with the deal told the Daily News on Wednesday. The team expects to secure commitments for three remaining shares in the near future, and hopes to complete the offering soon, the sources said. The Daily News first reported last month that the Mets were close to finalizing at least five of the $20 million shares. The stake in the Mets would not prevent Cohen, ranked 35th last year in Forbes' "400 Richest People in America," from purchasing the Dodgers, but he would have to sell his interest in the Mets if he completes the deal for the Los Angeles team. [NYDN, related]

Related

New York Mets Might Want To Savor Their Time Under The Tutelage Of Steve Cohen

...because they're about their last! SAC Capital Advisors founder Steven Cohen is the front-runner to purchase the Los Angeles Dodgers. Reports earlier this week indicated that Cohen's bid for the baseball team was a couple hundred million dollars less than that made by former baseball executive Stan Kasten and Los Angeles Lakers legend Magic Johnson. But Cohen's bid now matches the Kasten-Johnson offer of $1.6 billion—and at least half of Cohen's purchase price would come in the form of cash. Indeed, Cohen, who last month bought a small stake in the New York Mets, which he would have to give up if approved to buy the California team, may already be planning for the Dodgers' future. He has reportedly spoken with former Major League manager Tony La Russa about taking the team over under a Cohen regime. [FinAlternatives]