He turns out to be a winner in the New York Mets asset derby.
Steve Cohen, a longtime hedge fund billionaire and Mets fan, won the bidding procedure for the team, starting exclusive conversations to buy the club according to various reports.
Cohen beat, among others, an organization led by celebrity couple Alex Rodriguez and Jennifer Lopez, such as the duet of Josh Harris and David Blitzer, owners of the New Jersey Devils and the Philadelphia 76ers.
The Rodríguez-Lopez Group issued on a Friday night pronouncing its withdrawal from the bidding process.
“The consortium led by Alex Rodriguez and Jennifer Lopez informed the Mets that they were no longer looking for the acquisition of the equipment,” he said. “The consortium, which included Vincent Viola, Mike Repole and Marc Lore, submitted a fully funded funding offer of record value for the team, which was subsidized through JP Morgan’s binding debt commitments and letters of commitment from solvent partners.
“The consortium said it was disappointed not to be a component of new York’s revitalization and provide a stimulating delight for enthusiasts and wish good luck to Wilpon’s family circle and the entire Mets organization.”
Lopez also tweeted, “Alex and I are so disappointed! We’ve been running so hard the last 6 months with the dream of fitting the first minority couple and the first female owner to buy her father’s favorite Major League Baseball team with her own strength.” money earned. We haven’t given up yet!! #NYForever.”
According to Forbes, Cohen’s net worth is estimated at $14 billion. He’s the richest user bidding on the team. Cohen is already a minority owner of the team.
Rodriguez and Lopez put together a group of partners that included Mike Repole, co-founder of Vitaminwater, and Florida Panthers owner Vincent Viola.
In December 2019, Sterling Partners, the Wilpons, announced that they were negotiating to sell a majority stake in the team to Cohen. From the deal, Fred and Jeff Wilpon would retain their titles for the next five years.
An agreement was reached, but in February it failed in the latter stages.
Still, the Wilpons were for a prospective buyer.
In the end, it looks like Cohen’s going to be that guy.