Report: Steve Cohen Finalizing Mets Purchase Despite Late A-Rod, J-Lo Push

Billionaire hedge fund manager Steve Cohen is reportedly "finalizing" paperwork to complete his purchase of MLB's New York Mets from majority owner Fred Wilpon, minority owner Saul Katz and their families.

Charles Gasparino of the Fox Business Network reported Wednesday:

Tim Healey of Newsday added the talks are going "smoothly" with "no obstacles" despite speculation about a renewed push by a group led by former MLB All-Star Alex Rodriguez and his fiancee, singer and actress Jennifer Lopez.

In February, the Mets ownership group and Cohen, who's a limited partner in the club, were on the verge of a deal but couldn't come to final terms about the transfer of ownership as the Wilpon family sought to remain involved for five more years, per ESPN.

"I'm very disappointed we couldn't work out a deal, but as an 8 percent holder I'm looking forward to a higher bid for the team," Cohen said in a statement at the time. "I gave it my best shot."

The sale would have given the Mets a $2.6 billion valuation. It's unclear whether the coronavirus pandemic impacted the new set of talks from a financial standpoint. Forbes estimated the team's worth at $2.4 billion in April.

In August, Lopez and Rodriguez's group announced it was withdrawing from trying to buy the team. Lopez tweeted about their disappointment but later deleted the tweet.

However, she told Joel Sherman of the New York Post on Tuesday that they were back in the running.

"It ain't over until it is over," Lopez said. "We are New Yorkers, and we are not going to give up. We feel we have the best bid for the sport, the team and the city."

They could struggle to win a late bidding war against Cohen. Forbes estimates his net worth at $14.6 billion, which would make him the second-richest owner in American sports.

The Wilpon family has owned majority control of the Mets since 2002. The team has only made the playoffs three times in those 18 years, highlighted by a trip to the 2015 World Series.