Months after abandoning the purchase of the New York Mets, billionaire hedge fund manager Steve Cohen is again in a position to take over the club.
That’s according to Charles Gasparino of FOX Business Network:
Hedge fund billionaire Steve Cohen continues to push to buy @SNYtv along with its commitment to @Mets-sources. Cohen said the network is not part of the offering, but he believes it will be from some point sources. Cohen is still confident that his offer will outperform both Harris Blitzer and @UNA ROD-sources
Cohen submitted an offer to buy the Mets last week, as did former New York Yankees slugger Alex Rodriguez and his fiance Jennifer Lopez, along with the duo of Josh Harris and David Blitzer, owners of the New Jersey Devils and Philadelphia 76ers.
Gasparino reported that Cohen initially established himself as the favorite after putting the most cash on the table: $ 2 billion for the club and another $ 2 billion for SNY (even though Sportico later reported that the cable channel did not It is on sale).
The New York Post reported that Cohen’s offer exceeded that made by Rodríguez and López.
First Yankee The slugger bid group offered about $ 1.7 billion, two sources close to the situation said. That’s also in the range of the offer that came from Philadelphia 76ers and New Jersey Devils owners Josh Harris and David Blitzer, the sources said.
However, Gasparino later reported that the offer made by Rodríguez and López was in the stadium with Cohen’s proposal.
On top of that, ESPN reported Monday that NFL stars Brian Urlacher, Travis Kelce and DeMarco Murray are among the investors supporting Rodríguez and López’s offer.
Dallas Mavericks owner Mark Cuban, who once tried to buy the Chicago Cubs and Texas Rangers, told the Post that he was also invited to team up with the Rodríguez and López. “A-Rod approached him about joining his bidding group, but it happened, and he declined to provide further details.”
The New York Post reported Thursday that Rodriguez and Lopez have already met with Robert Kraft of the New England Patriots to discuss property issues.
Gasparino said Rodriguez trying to attack other sports stars will not make a big difference in his group’s bid.
According to the Post, “Mets chief operating officer Jeff Wilpon would prefer to sell the team to J-Rod if his bid is close to the best bid at the end of the auction, multiple sources said.”
Rumors of a “mystery bidder” have not been confirmed. Some speculated that he is casino magnate Sheldon Adelson and capital firm Silver Lake Partners. There is also a theory that Adeslon will join forces with Harris and Blitzer.
Adelson is worth almost $ 31 billion. Silver Lake is worth $ 43 billion. That money, when combined with Harris and Blitzer’s, would create a group with massive, deep pockets that could outperform Cohen, which is worth $ 11 billion.
For what it’s worth, the Las Vegas Review-Journal reported Wednesday that Ron Reese, a spokesman for Adelson’s Las Vegas Sands Corp., denied the company’s role in selling the Mets. “No offer, no interest.”
A Silver Lake spokesman also denied that the equity firm is interested in being part of the Mets’ property, according to amNewYork Metro. “Any claim that Silver Lake is making or joining an offer for the New York Mets is completely false and inaccurate,” the spokesman said.
Cohen agreed in December to buy the Mets for $ 2.6 billion, but the deal collapsed in February when Cohen pressed for immediate control of the team, while the Wilpon family wanted to stay with the club for five more years.
Fred Wilpon purchased a minority stake in the Mets in 1980. In 1986, Wilpon became an equal partner in the club with Nelson Doubleday, Jr. The Wilpon family purchased Doubleday and became the sole owner of the Mets in 2002.
In April, Forbes launched its list of the most valuable MLB franchises. The Mets were sixth at $ 2.4 billion. However, cash flow is an issue for the Mets with baseball struggling to save the 2020 season amid the coronavirus pandemic.
The Post reports that the Wilpons hope to sell the club in October.
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