Mets sale to billionaire Cohen reportedly in trouble
An anticipated buyout of New York Mets owner Fred Wilpon by billionaire Steve Cohen is "on life support," according to the New York Post.
The Post reported Tuesday that sources confirmed hedge fund manager Cohen is ending negotiations to purchase up to an 80-percent stake in the franchise for $2.6 billion. Cohen currently is a minority owner with the team.
Reports in December said Cohen would take control of the Mets from Wilpon and son Jeff, the team's chief operating officer, in five years.
On Tuesday, the Mets released a statement amid rumors the sale to Cohen was in trouble.
"The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment," the Mets statement read.
The Post then reported the deal was "on life support" after Cohen became unhappy with Fred Wilpon changing terms of the deal at a very late stage.
Citing sources close to Cohen, the newspaper said the 63-year-old was abiding by the NDA and refraining from comment for now.
Wilpon previously tried to sell the Mets to local billionaire hedge fund manager David Einhorn in 2011. Einhorn was in negotiations before walking away and accusing the Wilpons of late bad faith in discussions.
--Field Level Media
