The owners of the Mets are in negotiations to sell up to 80% of the team to billionaire Steve Cohen, according to Bloomberg News.
Bloomberg reports the transaction would value the franchise at $2.6 million.
The Mets released a statement on Wednesday to confirm the talks and said principal owner Fred Wilpon will remain in his current role for five years. His son, Jeff Wilpon, will also remain the team's chief operating officer for the five-year period. After that time, Cohen would control the franchise and the Wilpons will retain a stake in it, Bloomberg reports.