Cohen to increase stake in Mets; Wilpons remain in control
5 years, 1 month ago

Cohen to increase stake in Mets; Wilpons remain in control

Associated Press  

NEW YORK — A hedge fund manager whose company paid $1.8 billion in U.S. criminal and civil settlements is in negotiations to increase his stake in the New York Mets, who left open the possibility he eventually could become controlling owner. The team said Wednesday the deal between Sterling Partners and Steve Cohen would allow 83-year-old Fred Wilpon to remain as controlling owner and chief executive officer for five years. Cohen, 63, first bought into the Mets in 2012 when the team sought $20 million minority investment stakes following the collapse of Bernard Madoff’s Ponzi scheme, which cost the Wilpons and their companies large amounts. Doubleday & Co., a publisher, bought the Mets in 1980 from the family of founding owner Joan Payson for $21.1 million, with the company owning 95 percent of the team and Wilpon controlling 5 percent.

Control Team Million Mets Cohen Owner Sac Wilpon Wilpons  cohen  sac  remain  wilpon  team  controlling  mets  owner  wilpons  increase  control  york  sterling  million  company  stake

History of this topic

Mets owner Steve Cohen considering trade deadline selloff, but Showalter, Eppler safe through season
1 year, 6 months ago

Mets owner Steve Cohen considering trade deadline selloff, but Showalter, Eppler safe through season

Associated Press  

NEW YORK — Mets owner Steven Cohen threatened his underperforming team with the prospect of a trade deadline selloff unless New York gets back into contention for a playoff berth, while promising job security through the season’s end to manager Buck Showalter and general manager Billy Eppler. “All is not lost yet, but it’s getting late,” Cohen said during a …

Mets set to shatter payroll records, soar to about $350M
2 years ago

Mets set to shatter payroll records, soar to about $350M

Associated Press  

NEW YORK — Steve Cohen’s New York Mets are on track to shatter spending records in his third season as owner, boosting payroll to about $350 million for purposes of the luxury tax and poised to pay a penalty of about $80 million. Coming off his third Cy Young Award, the 39-year-old Verlander became the second $43.33 million pitcher in …

Mets owner Steve Cohen 'could gain casino license' after NYCFC's $780m stadium project was approved
2 years, 1 month ago

Mets owner Steve Cohen 'could gain casino license' after NYCFC's $780m stadium project was approved

Daily Mail  

New York Mets owner Steve Cohen could reportedly hit the jackpot after New York City FC announced a $780million stadium deal at Willets Point. NYCFC's new stadium, set to be ready by 2027, alongside a hotel and 2,500 housing units -- which will be adjacent to the Mets' Citi Field stadium -- could provide Cohen with a launching pad to …

Alderson cites perception change for decision to step down
2 years, 3 months ago

Alderson cites perception change for decision to step down

Associated Press  

NEW YORK — Sandy Alderson has achieved one of the goals he set upon his return to the New York Mets. Anyway I’m looking for a little different cadence, I guess is the right word.” Alderson hired Jared Porter as general manager, and Porter was fired in January 2021 after 38 days over revelations of sexually explicit text messages. Billy …

How will Steve Cohen respond to this Mets season?
3 years, 4 months ago

How will Steve Cohen respond to this Mets season?

New York Times  

What kind of owner is Steve Cohen? The biggest question for the Mets for this winter — and one of the most animating questions around the sport as a whole — centers on Cohen’s evolving style of ownership. — Steven Cohen August 18, 2021 Cohen’s observation was not novel: The Mets’ offensive underperformance has been the throughline of their 2021 …

Owner of Mets and hedge fund leaves Twitter, citing threats
3 years, 11 months ago

Owner of Mets and hedge fund leaves Twitter, citing threats

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Steve Cohen s hedge fund, …

Billionaire MLB owner Steven Cohen defiant after GameStop loss and says he’s ‘trying to make a living’
3 years, 11 months ago

Billionaire MLB owner Steven Cohen defiant after GameStop loss and says he’s ‘trying to make a living’

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The GameStop stock buying …

Francisco Lindor all smiles after trade from Indians to Mets
3 years, 11 months ago

Francisco Lindor all smiles after trade from Indians to Mets

Associated Press  

NEW YORK — Francisco Lindor smiled widely for a full 40 minutes, enthralled to join a New York Mets team bulking up under new owner Steven Cohen. I’m living the life I always wanted, so I don’t see why not.” Cleveland traded the four-time All-Star to New York along with pitcher Carlos Carrasco on Thursday for infielders Andrés Giménez and …

Steve Cohen and the Mets laid out a new vision. How can they implement it?
4 years, 2 months ago

Steve Cohen and the Mets laid out a new vision. How can they implement it?

New York Times  

“You can’t change the perception without changing the reality,” Sandy Alderson said Tuesday — a day when the Mets tried their damnedest to overhaul their perception in the span of one 90-minute Zoom news conference. Related: Carig: The Mets make it clear that they dare to be ‘iconic’ Yet Cohen and Alderson could have cleared a pole vaulting cross bar. …

Mets’ new owner Steve Cohen faces losses; will he be a big spender?
4 years, 2 months ago

Mets’ new owner Steve Cohen faces losses; will he be a big spender?

New York Times  

There is an old joke in sports finance circles. So rich is the hedge fund titan that some owners led by Chicago White Sox owner Jerry Reinsdorf opposed the purchase, sources and reports said, worried in part Cohen would join other high-spending teams like LA Dodgers and New York Yankees. And the New York tabloids are already full of stories …

Steve Cohen and the Mets clean house, starting with Brodie Van Wagenen
4 years, 2 months ago

Steve Cohen and the Mets clean house, starting with Brodie Van Wagenen

New York Times  

Just hours into Steve Cohen’s official ownership of the Mets, the team is overhauling the top of its front office. Cohen and new team president Sandy Alderson announced the departure of Brodie Van Wagenen on Friday, as well as special assistant Omar Minaya, vice president of scouting and player development Allard Baird, executive director of player development Jared Banner and …

Billionaire hedge fund manager Cohen agrees to buy Mets
4 years, 3 months ago

Billionaire hedge fund manager Cohen agrees to buy Mets

Associated Press  

NEW YORK — Billionaire hedge fund manager Steve Cohen has agreed to buy the New York Mets from the Wilpon and Katz families. Cohen first bought into the Mets when the team sought $20 million in minority investment stakes following the collapse of Bernard Madoff’s Ponzi scheme, which heavily cost the Wilpons and their companies. The limited partnership shares were …

Manfred, Mets say sale from Wilpons to Cohen is off
4 years, 11 months ago

Manfred, Mets say sale from Wilpons to Cohen is off

Associated Press  

ORLANDO, Fla. — Baseball Commissioner Rob Manfred and the New York Mets say talks have ended over the proposed sale of a controlling share of the team from the families of Fred Wilpon and Saul Katz to hedge fund manager Steve Cohen. The Mets said Dec. 4 the contemplated deal between Sterling Partners and Cohen would have allowed 83-year-old Fred …

Discover Related