Showing posts with label 7 Minority Shares Sold. Show all posts
Showing posts with label 7 Minority Shares Sold. Show all posts

Wednesday, February 22, 2012

Mets have completed the sale of seven minority shares, one investor might be Steve Cohen


According to Steve Marcus of the Ny Newsday, the Mets have completed the sale of seven minority shares of the team for $20 million each, a person familiar with the process said Wednesday.

The source said the seven units are "signed and sealed." Another source identified one of the investors as billionaire hedge fund manager Steve Cohen.

The Mets declined to comment on the status of the sales or Cohen's involvement. A spokesman for Cohen declined to comment.

The club has said it intends to sell 10 units, for a total of $200 million, to pay off existing loans and help with operating expenses during the upcoming season. No timetable was given for an announcement of the agreements. A person with knowledge of the situation has said the investors have been vetted by Major League Baseball.

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