Mets sold to Cohen, pending MLB approval


The New York Mets announced the franchise has been sold to billionaire Steve Cohen, pending Major League Baseball approval.

At least 23 of the 30 owners will need to approve the transaction.

Cohen currently owns eight percent of stock in the franchise. He invested $40 million in 2012 as a limited investor in 2012 following the Bernard Madoff’s Ponzi scheme. The current deal to assume ownership of the franchise is reportedly $2.4 billion.

If approved, Cohen would be the third owner in franchise history. The team was originally owned by Joan Payson. Members of the Payson family sold the team to publisher Doubleday & Co. for $21.1 million in 1980. Doubleday assumed 95% of the ownership and Fred Wilpon had five percent invested. Doubleday & Co. was sold in 1986 and its shares of the team were purchased by Wilpon and Nelson Doubleday for $81 million.

The pair were co-owners until 2002, that is when Doubleday sold share of the franchise to Wilpon.

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National League baseball in New York was redefined on March 6, 1961 when the New York Metropolitan Baseball Club Inc. formally received a certificate of membership from leave president Warren Giles. Of the 30 Major League Baseball clubs today, the case could be made that no other team has a more compelling franchise history than the New York Mets. From Casey Stengel to Yogi Berra, Marv Throneberry to Tom Seaver, Willie Mays, Tug McGraw, Darryl Strawberry, Dwight Gooden, Keith Hernandez, Bobby Valentine, Pedro Martinez and Matt Harvey, the Mets are loaded with character(s). Then there are the Amazin’ seasons — 1962, 1969, 1973, 1986, 2000, 2006-2008 and 2015 — full of miracles, joy, hope and heartbreak. Mets Rewind is designed for that purpose: To share team history in a distinct and entertaining format. We hope you — the baseball fan — enjoy the content. We encourage you to share your memories.
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