Mets sale: Steve Cohen makes astonishing $2 billion bid; A-Rod, Lopez still in the fray

MLB franchise New York Mets are looking for potential buyers since the Wilpons announced they were selling the team in December 2019. The first round of Mets bid is in, and billionaire hedge fund manager Steve Cohen has reportedly submitted an offer to buy the Mets for $2 billion. The Steve Cohen Mets bid comes in after his previous $2.6 billion takeover fell through in the 11th hour, due to a five-year window of ownership. The Steve Cohen Mets bid could make the Mets sale the most expensive in MLB history. 

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New York Mets sale: Steve Cohen makes astonishing $2billion Mets bid 

According to reports by Charles Gasparino, Wall Street mogul Steve Cohen has registered a massive $2 billion bid plus an additional $2 billion for SportsNet New York (SNY) as the Mets own a 65 percent controlling interest in SNY. Jon Heyman had reported earlier that first-round bids for the Mets sale were likely to be accepted by the Wilpons, and Steve Cohen was amongst the handful bidders interested. Others include Josh Harris and David Blitzer, Alex Rodríguez and Jennifer Lopez, and the Reuben brothers.

The Steve Cohen Mets bid comes in after the 64-year-old saw his protracted takeover fall through with the Wilpons trying to change terms last minute. According to NBC Sports,  Fred Wilpon bought a 50 percent stake in the New York Mets for $81 million in 1980 and bought the other half in 2002 for $391 million. While the first-round bids for the Mets sale are non-binding, the Steve Cohen Mets bid suggests that the Mets owners are likely to collect a windfall. 

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New York Mets sale: Steve Cohen Net Worth

The Steve Cohen net worth is an astonishing $14 billion according to Forbes' real-time net worth metric. The 64-year-old manages Point72 Asset Management, a $16 billion hedge fund firm that started managing outside capital in 2018. The Steve Cohen net worth marks him 77th on the Forbes list of billionaires. Cohen was forced to shut down his previous hedge fund SAC Capital after the firm pleaded guilty to insider trading charges that cost him $1.8 billion in penalties. The magazine reports that Cohen has given $715 million to philanthropic causes over his lifetime, including causes related to veterans and children's health.

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New York Mets sale: J Lo and Alex Rodriguez still in the hunt despite Steve Cohen Mets bid 

According to the New York Post, Jennifer Lopez and Alex Rodriguez have the necessary funding and can outmatch the Steve Cohen Mets bid. A-Rod's bidding group had reportedly offered $1.7 billion for the Mets. The $1.7 billion bid by J Lo and Alex Rodriguez was in the range of what Philadelphia 76ers and New Jersey Devils owners Josh Harris and David Blitzer offered, according to reports. The Steve Cohen Mets bid has to be $250 million more than his next bidder to buy the Mets after his previous unsuccessful attempt. The New York Post further reports that Wilpon prefers selling the Mets to A-Rod rather than Cohen, and will consider their bid if it is anywhere close to the best bid at the end of the auction. 

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(Image Credit: Point72careers, Alex Rodriguez Instagram)