Featured Video
Tolle's Immaculate Inning โ›ฝ
FILE - In this Sept. 9, 2020, file photo, Citi Field is viewed at dusk before a baseball game between the New York Mets and the Baltimore Orioles in New York. Billionaire hedge fund manager Steve Cohen has agreed to purchase the Mets from the Wilpon family. The team announced the agreement on Monday, Sept. 14, 2020. The deal is subject to the approval of Major League Baseball owners. (AP Photo/Kathy Willens, File)
FILE - In this Sept. 9, 2020, file photo, Citi Field is viewed at dusk before a baseball game between the New York Mets and the Baltimore Orioles in New York. Billionaire hedge fund manager Steve Cohen has agreed to purchase the Mets from the Wilpon family. The team announced the agreement on Monday, Sept. 14, 2020. The deal is subject to the approval of Major League Baseball owners. (AP Photo/Kathy Willens, File)Kathy Willens/Associated Press

Steve Cohen's Purchase of Mets Reportedly Approved by MLB's Ownership Committee

Joseph Zucker
Oct 20, 2020

Steve Cohen took another step closer toward purchasing the New York Mets.

The New York Post's Joel Sherman and Sportico's Scott Soshnick and Barry M. Bloom reported Tuesdayย that MLB's Ownership Committee voted 7-1 in favor of approving Cohen as the Mets' next owner.

He still needs to pass a vote of theย Executive Council. Then at least 23 fellow owners will need to sign off on the move before the transaction is official.

Cohen already owns a minority stake in the Mets. The team announced in September it had begun the process of making him the majority owner.

According toย Newsday'sย Tim Healey, his stake will climb to 95 percent, and his bid valued the Mets at around $2.48 billion.

Cohen and the Wilpon family were working toward a sale earlier in the year before negotiations broke down. Theย New York Post'sย Thornton McEneryย reported Cohen was "deeply unhappy with the Wilpons changing the terms of the deal at a very late stage and has decided to walk away."

The Wilpons continued to explore a change in ownership.

Soshnickย reported in July that four groups had moved on to the second round of bidding. Cohen was joined by Josh Harris, principal owner of the New Jersey Devils and Philadelphia 76ers, a group led by former MLB star Alex Rodriguez, and a fourth faction that wasn't identified.

According to Sportico, a final vote on Cohen could happen "soon" upon the conclusion of the World Series between the Los Angeles Dodgers and Tampa Bay Rays.

Tolle's Immaculate Inning โ›ฝ