Fred Wilpon is close to selling a controlling interest of the New York Mets to billionaire hedge fund manager Steve Cohen.
As part of that agreement, Fred Wilpon will remain in the role of the Control Person and CEO for five years and Jeff Wilpon will remain in his role of Chief Operating Officer for the 5 year period as well,” Sterling Partners and Cohen Private ventures said in a statement.
Cohen purchased a minority stake in the team 7 years ago. Wilpon has been an owner since 1980, with a controlling interest since 2002.
The Mets have been valued at $2.6 billion.
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