Billionaire hedge fund manager Steve Cohen has entered exclusive negotiations to buy the New York Mets, CNBC reported on Friday, citing numerous unnamed sources.
Cohen fended off a bid from a consortium led by Alex Rodriguez and singer-producer Jennifer Lopez, and another by private equity billionaires Josh Harris and David Blitzer, CNBC reported.
Cohen, who almost sealed a deal to buy an 80% stake in the Major League Baseball team for around $2.6 billion late in 2019, had not reached a definitive agreement but was expected to do so within days, the report added.
Cohen, who already has a 4% stake in the Mets, had ended the earlier talks with owners, the Wilpon family, in February reportedly due to issues related to closing costs.
Cohen’s Point72 Asset Management and the Mets were not immediately available for comment.