Billionaire Steve Cohen buying a share in Mets

Polaroid

Billionaire investor Steve Cohen, who is in the running to purchase of the Dodgers, is close to buying a $20 million share of the Mets, Bill Shaikin reports in the LA Times.

“If Cohen were to buy the Dodgers, he would have to sell his stake in the Mets,” Shaikin says. “However, by helping the Mets, Cohen could be in a favorable position to buy the Mets outright if the team were put up for sale and the Dodgers were sold to another party.”

Last year around this time, the New York Post reported that Cohen was the frontrunner to buy a 49 percent minority stake in the Mets,’ however they later reported talks had ‘cooled,’ at which point they settled on partnering with David Einhorn.

According to Forbes, Cohen is worth $8.3 billion. He is the founder of SAC Capital Advisors, a Connecticut-based hedge fund, whose records had been subpoenaed as part of a federal investigation in to insider trading. However, to date, no charges have been filed against Cohen or SAC.

Earlier this week, Steven Marcus of Newsday said the Mets expect to complete the sale of 10 minority shares of the team at $20 million each by the end of February.

[line]

To read more about Cohen, read Shaikin’s report in the LA Times.