Steve Cohen Mets
Steve Cohen Interested in Buying Stake in New York Mets
SAC Capital's manager, Steve Cohen, is known for taking bets so his interest in buying a minority stake in the Mets is not surprising. The New York baseball team is trying to pay down its debts and cover its losses so it's turning to investors to raise $200 million.
Billionaire hedge-fund manager Steve Cohen has joined the bidding for a minority stake in the New York Mets, as the baseball team attempts to raise about $200 million to cover losses and pay down debt, according to people familiar with the matter.
Mr. Cohen, the founder of SAC Capital Advisors LLC whose net worth is estimated by Forbes magazine at $7.3 billion, is a longtime Mets fan who knows its controlling Wilpon family socially. He manages about $12 billion in assets.
A spokesman for the Mets declined to comment. Jonathan Gasthalter, a spokesman for Mr. Cohen's SAC, declined to discuss any bid.
Several other Wall Street financiers also are vying to gain a minority stake in a team with heavy debt, declining attendance, and the cloud of $1 billion in claims against the Wilpons by the trustee for victims of the Bernard Madoff Ponzi scheme. Source
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