Mets Announce Agreement To Sell Team To Steve Cohen, Pending MLB Approval

The deal still must be approved by MLB

Things are happening with the sale of the New York Mets.

The club on Monday announced that billionaire hedge fund manager Steve Cohen and the Sterling Partners and the Wilpon and Katz families have reached an agreement to make Cohen the majority owner of the Mets.

Cohen will own 95 percent of the team, with the Wilpon and Katz families retaining the rest.

There still are some hoops to jump through before the deal is finalized, however, as it’s pending approval from the rest the Major League Baseball owners. They’re anticipated to vote on the ownership change in November during annual meetings, and 23 of 30 owners must approve.

Former New York Yankees third baseman Alex Rodriguez and superstar Jennifer Lopez were among the final bids to buy the team, but the couple backed out after Cohen emerged as the frontrunner.

Thumbnail photo via Brad Penner/USA TODAY Sports