According to the New York Post, ‘Controversial hedge-fund titan’ Steve Cohen is the frontrunner to buy a minority stake in the Mets.
The report indicates a deal is close, as the two sides were set to meet last night in Greenwich, Conn, but also writes the following:
The investor’s $12 billion SAC Capital hedge fund operation said in a letter to investors last November that it had received an “extraordinarily broad” subpoena from federal prosecutors probing insider trading on Wall Street. In a Dec. 31 letter, the Post has reported, Cohen promised those investors that he would pick up the tab for SAC’s costs in cooperating with the feds. SAC has not been charged or named in any action.”
Nevertheless, “Cohen wants it,” a source familiar with his thinking told the Post. “What he wants he gets.”
Well, then I hope he wants Jose Reyes, Albert Pujols and a championship as well…
Anyway, the buzz all over New York media is that the Mets will announce a partner at some point in the next few weeks. Clearly, there is a short list, likely three investment groups, and, from what I can gather, each want different things and are willing to buy in with different stakes. So, while I’m sure there is a front runner, I’d rather just sit tight, watch baseball and wait to hear what happens when actual, real news occurs. My only hope is that this doesn’t drag out and the team gets an influx of cash, and energy, before the Trade Deadline so it can re-evaluate and create a solid plan for the future.