Billionaire Steve Cohen Signs Agreement To Buy The Mets

Topline

Steve Cohen has signed an agreement to buy the New York Mets, according to a statement released by the billionaire hedge fund manager Monday, signaling the roller coaster sale process may be nearing its end. 

Key Facts

Key Background 

The sale has been in the works since last year, when Cohen agreed to purchase 80% of the team for $2.6 billion, but then pulled out. Cohen placed another bid for $2 billion in July and won the bidding process against former Yankees player Alex Rodriguez and his fiancée Jennifer Lopez, who offered $1.7 billion. 

Big Number

$14.6 billion. Cohen’s net worth, according to Forbes estimates. Cohen oversees Point72 Asset Management, a $16 billion hedge fund firm. For years, he ran SAC Capital, one of the most successful hedge funds of all time, which he was forced to dissolve after the firm pled guilty to insider trading charges in 2013 and was assessed a $1.8 billion fine.