Steve Cohen has the necessary approval votes from Major League Baseball’s club owners to successfully secure majority ownership of the New York Mets.
AMNewYork Metro was able to confirm Andy Martino of SNY’s initial report pertaining to the matter.
Cohen needed 23 of 30 owners to vote for his $2.475 billion acquisition of the team that would see the 64-year-old take over a 95% stake of the club. The official vote is expected to take place within the next week, shortly after the conclusion of the World Series in which the Dodgers currently lead the Tampa Bay Rays 3-2.
The approval of the other MLB club owners is the final step of Cohen’s purchase of the team. He recently gained approval from the league’s eight-man ownership committee that was headed by Pittsburgh Pirates chairman, Bob Nutting.
Among the eight members of that committee was Chicago White Sox owner Jerry Reinsdorf, who is believed to be the one person who voted no for Cohen in the 7-1 decision and is expected to maintain that stance moving forward. Martino noted that Reinsdorf could “could bring three or four owners along with him,” but that won’t impact Cohen’s chances of getting the Mets.
It remains to be seen if Major League Baseball’s official announcement of Cohen’s successful transaction will come before New York City Mayor Bill de Blasio gives the go-ahead, too. Under the 2006 Stadium Lease Agreement between the New York City Industrial Development Agency and Queens Ballpark Company the city can deny the transferral of the team and its stadium to a person who has committed a felony.
Cohen was never charged with a crime, let alone convicted of one, but his company, S.A.C. Capital Investors, pleaded guilty to securities and wire fraud in 2013 and paid $1.8 billion in fines.
He is not expected to block the deal, however.