Billionaire Steve Cohen has reached an agreement to purchase the New York Mets from the Wilpon and Katz families. The sale is subject to the approval of the other Major League Baseball owners. Once the deal is approved, Cohen will own 95% of the Mets and assume full control of the franchise as its majority owner.
"I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets," Cohen said in a statement. Cohen -- a hedge fund manager and native of New York -- entered exclusive negotiations to buy the franchise last month. Cohen, who is a lifelong Mets fan, was already a minority owner of the team. The deal values the Mets at about $2.48 billion, and if it sold for that price, it would be the most lucrative sale in professional sports history.
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