Steve Cohen on Friday officially closed the deal to become the owner of the New York Mets.
“This is a significant milestone in the history of this storied franchise. I want to thank everybody who helped make this happen,” Cohen said in a statement. “The 2021 season is right around the corner and we’ve got a lot of work to do, so I’m excited to get started. Let’s go Mets!”
The 64-year-old billionaire hedge fund manager’s purchase of 95 percent of the team was approved last week by Major League Baseball owners.
The $2.4 billion deal is the highest price tag ever paid for a North American sports team. Forbes estimated a net worth of $14 billion for Cohen, who becomes baseball’s wealthiest owner.
Cohen, who initially bought a minority stake in the Mets in 2012, reached an agreement to purchase the team on Sept. 14.
Cohen is CEO and president of Point72 Asset Management.
The Fred Wilpon and Saul Katz families, who previously owned the Mets, now possess a 5-percent share of the team.
The club, which made its debut in 1962, has won two World Series titles (1969, 1986) and lost three other times. It has not reached the playoffs since 2016, delivering just one winning season in the last four years.