Report: Steve Cohen likely to get approval from MLB owners to take over Mets

Steve Cohen Mets
Steve Cohen has the necessary votes needed to take over as majority owner of the Mets but may see opposition from NYC Mayor Bill de Blasio.
REUTERS/Lucy Nicholson

Steve Cohen appears to be clearing the hurdles necessary to take over as majority owner of the New York Mets. 

After entering exclusive negotiations with the Wilpon family, Fox Business’ Charles Gasparino first reported on Tuesday that Cohen “has the votes to be approved by owners,” to take over the club.

Cohen needs 23 of the 29 MLB owner votes to get approval, which is expected to come in November.

There had been concerns regarding his ability to get the green light from other team owners around the league considering his checkered history as a hedge-fund billionaire. 

The 64-year-old has faced insider-trading and sexual discrimination allegations. He also was forced to pay out a $1.2 billion settlement with the feds after his former firm, SAC Capital, pleaded guilty to securities fraud in 2013.

Such a past would prompt at least a few no-votes from his potential peers, but Gasparino’s report suggests that it won’t be enough to derail his second serious challenge for the team. 

Cohen has already beaten out a pair of serious suitors for the Mets this summer in a group led by Alex Rodriguez and Jennifer Lopez and another group featuring Philadelphia 76ers and New Jersey Devils owners, Josh Harris and David Blitzer. 

His bid is believed to be around the $2.4 billion range for just the team, while Gasparino notes that he could mount another challenge for the Wilpon-owned SNY television network, which broadcasts a majority of Mets games. 

As initial bidding for the team began in July, Cohen reportedly put down $2 billion for the Mets and an additional $2 billion for SNY, though the Wilpons remained adamant that the station was not for sale.