The only thing standing between Steve Cohen and the New York Mets is approval from the rest of baseball’s owners.
The hedge fund billionaire has officially signed an agreement to purchase the New York Mets, pending the approval of MLB club owners.
The Mets released a statement confirming the deal.
“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in the statement.
Cohen will own 95% of the team, becoming the majority owner in place of the Wilpons, who will still retain a 5% stake along with the Katz families. The deal values the Mets at approximately $2.4 billion, per multiple reports.
The owners will vote in November to approve Cohen, who needs 23 of 30 votes.
Cohen outbid deals made by Alex Rodriguez and Jennifer Lopez as well as New Jersey Devils and Philadelphia 76ers owner Joshua Harris.
A-Rod and J.Lo were reportedly planning a “last-ditch” effort in their pursuit to buy the Mets, but unless Cohen fails to gain approval from ownership their chances at owning the franchise are all but dead.
Cohen and the Mets nearly had a deal earlier this year, but talks fractured at the last minute and Cohen withdrew his bid.
Cohen managed to re-enter the picture this summer and this time has signed the dotted line without any hiccups.