MLB owners have voted to approve billionaire hedge fund manager Steve Cohen as the new owner of the New York Mets, it was announced Friday.
The proposed purchase of 95% of the Mets by an entity of Cohen had already been approved by MLB's ownership committee. Cohen needed 23 of the 30 clubs to sign off for the deal to be approved.
The sale values the franchise at $2.4 billion to $2.5 billion.
Cohen, 64, is CEO and president of Point72 Asset Management.
The Mets' ownership group had been headed by Fred Wilpon, his brother-in-law Saul Katz and Wilpon's son Jeff, the team's chief operating officer.