Steve Cohen, not Philadelphia 76ers Co-Managing Partner Josh Harris, is in exclusive talks to buy MLB's New York Mets as of Saturday. According to CNBC's David Faber, the billionaire hedge fund manager, Cohen, has entered exclusive negotiations to buy the Mets after a long and drawn-out negotiation process.
Since August of 2019, Cohen has been in talks with the Mets' current ownership seeking to buy the franchise out. Before, Cohen had won the bid for the Mets, but timetable issues caused the deal to fall through.
After Cohen failed to purchase the team the first time around, other notable offers came rolling in. First, all of the talks surrounded MLB legend Alex Rodriguez and world-famous star Jennifer Lopez as they were reportedly looking into buying the Mets. Then, 76ers and New Jersey Devils' Managing Partners Josh Harris and David Blitzer were getting in on the action as well.
"Cohen, who had been very close to a deal to acquire the Major League Baseball team for a price of roughly $2.6 billion late in 2019, has fended off challenging bids from a group of investors led by Alex Rodriguez and Jennifer Lopez, as well as a bid from a group led by private equity titans Josh Harris and David Blitzer."
"While Cohen has not reached a definitive agreement to purchase the club, he is expected to do so within days. Unlike his previous deal, any new purchase agreement would give him control of the team immediately."
Just as it seemed Harris and Blitzer had a good chance at landing a new sports franchise to add to their portfolio, Cohen came back into the picture and once again became the favorite to buy the Mets. Now, the report indicates that Cohen could have the franchise in the coming days, leaving Harris and Blitzer out of a deal.
Justin Grasso covers the Philadelphia 76ers for Sports Illustrated. You can follow him on Twitter: @JGrasso_