Report: Steve Cohen enters exclusive negotiations to purchase Mets
The New York Mets might have found their new owner.
Prospective purchaser Steve Cohen has reportedly entered exclusive negotiations to buy the Mets, and the team expects to finalize a deal in the next few days, according to David Faber of CNBC.
The group led by Alex Rodriguez and Jennifer Lopez has pulled out of the running.
"The consortium led by Alex Rodriguez and Jennifer Lopez has informed the Mets that they are no longer pursuing the acquisition of the team," a statement from A-Rod obtained by Ken Rosenthal of The Athletic said. "The consortium, which included Vincent Viola, Mike Repole, and Marc Lore, had submitted a fully-funded offer at a record price for the team, which was supported by binding debt commitments from JP Morgan and equity commitment letters from creditworthy partners.
"The consortium said that they are disappointed not to be part of the revitalization of New York City and provide an exhilarating experience for fans and wish the Wilpons family and the entire Mets organization well."
Lopez shared the statement on her Twitter account, expressing her disappointment while also pointing out that they - along with fiance Rodriguez - would have been the first minority couple, and she the first female, to own a team:
Alex and I are so disappointed!! We worked so hard the past 6 months with the dream of becoming the first minority couple and the first woman owner to buy her father’s favorite Major League Baseball team with her own hard earned money. We still haven’t given up!! #NYForever pic.twitter.com/JPBNp3nhfD
— jlo (@JLo) August 29, 2020
Cohen, 64, is a billionaire hedge fund manager with an estimated net worth of $14.6 billion, according to Forbes.
A third party, led by Harris Blitzer Sports & Entertainment, was also reportedly tied to the club's purchase.
The second round of bidding was due to conclude by the end of August.