Billionaire hedge fund manager Steve Cohen agrees to buy Mets

Posted: Sep 14, 2020 / 06:23 PM CDT | Updated: Sep 14, 2020 / 06:23 PM CDT

FLUSHING, NY – MARCH 25: A general view of the exterior of Citi Field on March 25, 2009 in the Flushing neighborhood of the Queens borough of New York City. (Photo by Mike Stobe/Getty Images)

NEW YORK (NewsNation Now) — Billionaire hedge fund manager Steve Cohen has agreed to buy the New York Mets from the Wilpon family.

The team announced the agreement on Monday. The deal is subject to the approval of Major League Baseball owners.

Sterling Partners sign agreement with Steve Cohen. #Mets pic.twitter.com/ogzUcLFkeQ
— New York Mets (@Mets) September 14, 2020

Cohen also entered negotiations to buy the Mets last year, but the deal fell apart in February. He bought an 8% limited partnership stake in 2012 for $40 million.

“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in a statement.

As of Monday evening, the Mets were ranked fourth in the National League East with a 21-26 record.

The Mets finished the 2019 season third in the NL East with a 86-76 record.

The Associated Press contributed to this report.