Alternative Investments: Steve Cohen’s Mets Bid Might Come to an End

February 5, 2020 | Alternative Investmentsé_Fernández_with_a_moment_of_silence_on_September_25_2016-e1580868971753.jpg

Cohen reportedly spikes negotiations over change of terms.

Steven Cohen and his pursuit of the New York Mets might be coming to a close. According to MarketWatch, the hedge fund manager is walking away from the Wilpons. Cohen reportedly sought an 80% stake in the National League franchise. However, the Wilpons reportedly changed terms of the deal, a factor that fueled Cohen’s departure from negotiations.

The Mets issued a “non-denial” after rumors emerged about the breakdown.

“The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment,” a statement from the Mets read.

A deal would have been worth $2.6 billion. In addition, Fred Wilpon would have stayed as the team’s CEO and Jeff Wilpon as CEO for another five years. This would allow Cohen to take control of the company a few years from now.

Steven Cohen and the New York Mets

Cohen hasn’t issued a statement on the deal. He is reportedly bound by an NDA. However, Barstool Sports’ Keven Clancy said Tuesday that he too heard the deal had died.

This is the second time that the Wilbons have failed to sell their team to a hedge fund manager. In 2011, the family failed to strike a deal with David Einhorn, according to the New York Post.

The head of Greenlight Capital publicly walked away from the deal as well and accused the family of bad faith during the latter stages of a deal.

Recent: Private Equity: Humana Enters JV to Open New Medicare Advantage Centers

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: India’s PayTM Gets Heat From Proxy Advisory Firm
August 12, 2022     FinTech, News

Proxy advisory firm Institutional Investor Advisory Services India Ltd. (IiAS) has issued a note ahead of PayTM’s (NSE: PAYTM) annual shareholders’ meeting on August 19 calling for the replacement of…
Venture Capital: Lockheed’s Venture Arm To Boost Investment In Space Startups
August 12, 2022     News, Venture Capital

Lockheed Martin (NYSE: LMT) and its venture finance arm Lockheed Martin Ventures plans to boost the latter’s investment outlay from $200 million to $400 million.
Digital Assets: Brazilian Fintech PicPay Launches Crypto Exchange With Paxos

PicPay, the well-known Brazilian payment app, has got its shoe in the crypto door in partnership with Paxos, a leading regulated blockchain infrastructure company. Picpay is opening crypto trading services…
FinTech: Telecom Behemoth BT Adds Barclaycard Payments To Partnership Network For Micro-Businesses
August 12, 2022     FinTech, News

BT (LON: BT.A), the telecom major, announced that Barclaycard Payments had joined its partnership network seeking to help the growth of UK microbusinesses. BT customers with 0-5 employees would get…