Steve Cohen, a lifelong Mets fan, has been approved as the new majority owner of the team after a vote by MLB owners on Friday, as SNY's Andy Martino reported and the league later confirmed.
The approval is contingent upon the closing of the sale, which is expected within the next 10 days, MLB said.
Shortly after news of the approval, New York City mayor Bill de Blasio -- whose legal team had been reviewing the sale -- tweeted that he has "no objections" and that it can proceed.
The 64-year-old Cohen, a hedge fund manager and native of Great Neck whose net worth is estimated to be $14.1 billion, reached an agreement to purchase the team on Sept. 14. According to Newsday's Tim Healey, the deal has the Mets valued at "approximately $2.475 billion."
.jpg)
In a statement, Cohen said his foundation will "continue its involvement in philanthropic activities" that benefit the city and its boroughs and be "vigorous supporters" of the community:
"Steven Cohen will donate $17.5 million to programs developed by the City to make grants to local area small businesses to assist them in these uniquely troubling times. This tax deductible donation would be received and held by the New York City Economic Development Corporation. We plan to dramatically increase the giving of the Mets Foundation in the coming years, with priority given to non-profits and causes in communities surrounding Citi Field."
Commissioner Rob Manfred extended his best wishes to Fred Wilpon, Saul Katz and Jeff Wilpon and thanked them in a statement, while congratulating Cohen. "Steve will bring his lifelong passion for the Mets to the stewardship of his hometown team, and he will be joined by highly respected baseball leadership as well. I believe that Steve will work hard to deliver a team in which Mets fans can take pride."
Fred Wilpon -- who said it "has been a privilege and honor for our families to have been a part of this great franchise for the past 40 years" -- has been the majority owner of the Mets since 2002, when he bought out Nelson Doubleday. Doubleday and Company and Wilpon purchased the Mets from the Payson family in January of 1980.
After an up-and-down saga, Cohen won out in the end after bidding that included one group led by Alex Rodriguez and Jennifer Lopez and another fronted by Josh Harris and David Blitzer.
Once the process with Cohen is finalized, Sandy Alderson will officially take over the role as team president -- a pending move Cohen announced on Sept. 24.
"Sandy is an accomplished and respected baseball executive who shares my philosophy of building an organization and a team the right way," Cohen said in a statement. "I am excited to have Sandy in a key leadership role with the Mets if my purchase of the team is approved. Let's Go Mets!"
What kind of impact the arrival of Alderson has on GM Brodie Van Wagenen is not yet known.
SNY's Andy Martino reported on Oct. 1 that Oakland assistant general manager Billy Owens, Tampa Bay special assistant Bobby Heck, and Nationals assistant hitting coach Pat Roessler, were among those who could potentially have roles with the Mets under Cohen and Alderson.
Cohen's initial plan to purchase a majority stake in the team was announced in December of 2019, but that deal fell apart.
MLB -- non-Mets -- sources with knowledge of the Cohen negotiation said it wasn't the five-year transition of power that was at issue, according to Martino, who reported that detail of the transaction was a done deal in writing months before talks broke down.
Bloomberg reported at the time that in the wake of the failed negotiations with Cohen that there would be "no preconditions regarding control of the team" as part of the next sale, meaning whoever became majority owner would likely have full control once the sale is complete.
Cohen is an investor and hedge fund manager who founded S.A.C. Capital Advisors and Point72 Asset Management. He bought a minority stake in the Mets in 2012, owning eight percent.