Steve Cohen has checked almost all the boxes to take over the New York Mets, and his takeover of the club is happening sooner rather than later.
A source has informed amNewYork Metro on Sunday evening that negotiations between Cohen and the Mets to purchase 80% of the team have been successful and is now just pending the approval of MLB team owners.
“It’s happening,” the source added.
There is already an expectation that Cohen will get the necessary backing from the other MLB owners to take over the Mets. He will need 23 votes from the remaining 29 team owners to get the green light.
Following the failed negotiations between Cohen and the Wilpon family back in February — which led to the current auction-like process led by Allen & Co. to sell the team — getting the approval from the current Mets’ ownership was believed to be a major roadblock.
These new developments, however, indicate that obstacle has been hurdled, with Cohen’s takeover happening shortly.
The 64-year-old hedge-fund billionaire had to beat out groups led by Alex Rodriguez and Jennifer Lopez, along with another headed by Philadelphia 76ers owners Josh Harris and David Blitzer, to get to this point.
It is believed that he will pay roughly $2.35 billion for the team.