FLUSHING – The New York Mets’ owners are negotiating a deal to sell the controlling share of the team to investor Steve Cohen, multiple media outlets reported Wednesday.
According to the reports, the Sterling Partners — the business of the Wilpon family — plan to complete the process of the sale over a five-year period, with principal owner Fred Wilpon remaining in his current position and his son, Jeff Wilpon, remaining chief operating officer during that period.
Cohen, who bought a reported 4 percent of the team in 2012, will increase his share to up to 80 percent, according to Bloomberg News, which said the team confirmed talks in a statement. Bloomberg added that the team will be valued at $2.6 billion in the transaction, and that Cohen will remain CEO of Point72 Asset Management, the hedge fund he founded in 1992.
Cohen, 63, is from Great Neck, N.Y., and has a net worth of $13.6 billion, according to Forbes. He paid a reported $20 million for his 4 percent stake in 2012.
The Wilpons currently own 52 percent of the Mets, after acquiring the controlling share of the team in 2002. They will reportedly retain a stake in the franchise after the completion of the deal with Cohen.