Hedge fund titan Steve Cohen is negotiating to increase his investment in the New York Mets through his Cohen Pirvate Ventures fund.
The Sterling Partners and Steve Cohen are the two parties to the new agreement.
Under that agreement, Fred Wilpon, co-founder chairman of Sterling, will remain CEO of the Mets for another five years and his son Jeff COO for the same period. Sterling currently has a majority stake in the team.
At the end of the deal, Cohen could learn a potential 80% control over the Mets.
The Mets were valued in February by Forbes at $ 2.3 billion.
Trader Martin Nikolov