Fund risk manager, billionaire Steve Cohen, struck a deal to buy the New York Mets from the Wilpon and Katz families.
The team announced the deal Monday and is subject to approval by the rest of the major league owners.
Sportico reported that Cohen will own 95% of the team, with the rest remaining in the hands of the Wilpon and Katz families. The pact values the franchise at about $ 2.4 billion, according to reports.
Former Major League Baseball star Alex Rodriguez and his fiancee Jennifer Lopez also tried to buy the team, but withdrew their offer last month.
“I am excited to reach an agreement with the Wilpon and Katz families to acquire the New York Mets,” Cohen said in a statement.
Cohen also entered negotiations to buy the Mets last year, but the transaction fell through in February. He bought a limited 8% stake in 2012 for about $ 40 million. The failed negotiation was for 80% of the stake at a value of 2.6 billion dollars.
The current ownership group is headed by Fred Wilpon, his brother-in-law Saul Katz and the Wilpons’ son Jeff, executive director of the Ninth.