Yonis Cespedes of the New York Mets stands in a deck circle in front of cardboard fans during a preseason game at City Field on July 18, 2020.
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According to numerous sources close to the sale process, billionaire hedge fund manager Steven Cohen has entered into special negotiations to buy the New York Mets.
Cohen, who was close to a deal to acquire a Major League Baseball team worth about 6 62.6 billion in late 2019, blocked challenging bids from a group of investors led by Alex Rodriguez and Jennifer Lopez. Bids from a group led by private equity titans Josh Harris and David Blitzer.
While Cohen has not reached a definite agreement to buy the club, he is expected to do so in a few days. Unlike his previous deal, any new purchase agreement would give him immediate team control.
The franchise received significant interest from the Rodriguez-led group, which is believed to have made an offer worth $ 2.3 billion, and from the Harris-Blitzer group. It is unclear what price Cohen will pay to secure control of the club, which is expected to be below his previous bid for the club.
According to people close to the negotiations, given the impact of the coronavirus epidemic, any new owner of meats this year and beyond will face a loss of more than million 100 million.
When Cohen was previously in a deal to buy the club, he broke down on issues related to closing costs, according to people with knowledge of previous discussions. However, given his deep pockets and passion for the franchise, he is believed to be in a good position to keep the team safe once he is placed on the cell block.
The A-Road-led group, however, was able to come up with a significant bid for the club and is confident it could emerge from the franchise.
Following a report on CNBC’s conversation with the Mets, Fox Sports’ Ken Rosenthal tweeted in a statement from Rodriguez that his consortium with Lopez “informed the Mets that they were no longer trying to acquire the team.”
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