Wednesday, April 13, 2011

Hedge Fund Billionare Steve Cohen among bidders for Mets


U.S. hedge fund billionaire Steve Cohen is among the bidders for a minority stake in the New York Mets, according many reports

Cohen, who was born in Great Neck, New York, is a long-time Mets fan, according to the Wall Street Journal, which reported his involvement in the bidding. The person who confirmed Cohen’s involvement was granted anonymity because the matter is private.

Steve Starker, co-founder of the trading company BTIG; Ken Dichter, co-founder of Marquis Jets; and Douglas Ellin, creator of the HBO show “Entourage,” are part of another group that has bid for the Mets, the Journal said.

Another competitor is a group formed by hedge-fund manager Anthony Scaramucci, the founder of Skybridge Capital; and James McCann, the founder of 1-800-Flowers.com, which is a sponsor of the Mets, the New York Times reported.

An investment group led by David Heller, co-head of Goldman Sachs Group Inc.’s securities unit, and Mark Spilker, president of private-equity firm Apollo Global Management LLC, is out of the bidding, the Times said.

The Mets are seeking to raise about "$200 million to cover losses and pay down debt" and "recently requested that potential investors submit nonbinding letters confirming their interest in the team, including their bid price and size of the stake, which could range from 25% to 49%," the WSJ reported.
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