Venice.ai
For @coyotelation
Steven Cohen, a billionaire investor and hedge fund manager, purchased the New York Mets in 2020. Here's an overview of the transaction:
In September 2020, the Mets' previous owner, Fred Wilpon, and his son Jeff Wilpon, agreed to sell the team to Steven A. Cohen for $2.4 billion. The sale marked one of the most valuable sports franchise transactions in history.
Cohen, who founded Point72 Asset Management and S.A.C. Capital Advisors, had a net worth estimated at around $14 billion at the time of the purchase. He became the seventh owner in the Mets' history and took over the team from the Wilpon family, who owned it since 1986.
The sale was approved by Major League Baseball (MLB) owners in November 2020, with a unanimous vote in favor of the transaction. The deal included not only the purchase of the team but also the lease to Citi Field, the Mets' home stadium, which runs through 2049.
Under Cohen's ownership, the Mets have made several key moves to improve the team on and off the field. These include hiring new front office personnel, signing free-agent players, and investing in player development.
Cohen has also been involved in various philanthropic efforts and initiatives aimed at supporting local communities and charitable organizations. He has pledged to build a state-of-the-art baseball academy in Queens, New York City, as part of his commitment to giving back to the community.
Overall, Steven Cohen's ownership of the New York Mets represents a new era for the franchise, with potential for significant growth and success both on and off the field.