Billionaire Steve Cohen reached an agreement Monday to take majority ownership of the New York Mets.
The sale is subject to the approval of the Major League Baseball club owners. Once that hurdle is cleared, he'll assume full control of the franchise. At least 23 of the 30 owners will need to approve the transaction, which was announced by the club via an afternoon news release.
"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, after signing the agreement.