Ownership committee approves Mets sale to Cohen: Source

proposed purchase of 95% of New York Mets by an entity of billionaire hedge fund manr Steve Cohen has been approved by Major League Baseball’s ownership committee, and final approval is likely to take place in next month.

Approval by committee was disclosed Tuesday by a person familiar with decision who spoke to Associated Press on condition of anymity because anuncement was me. Committee approval was first reported by Sportico.

Baseball’s executive council will consider deal next and is expected to forward it for a vote by all major league owners. sale values franchise at $2.4 billion to $2.5 billion.

current Mets ownership group is heed by Fred Wilpon, bror-in-law Saul Katz and Wilpon’s son Jeff, team’s chief operating officer. Wilpon and Katz families would retain 5% of team.

Cohen first bought into Mets when team sought $20 million in mirity investment stakes following collapse of Bernard Moff’s Ponzi scheme, which heavily cost Wilpons and ir companies. limited partnership shares were sold after a proposed $200 million sale of a stake of Mets to hedge fund manr David Einhorn fell through in 2011.

64-year-old Cohen is CEO and president of Point72 Asset Manment.

Im credits: AP