SAC Capital Advisors Founder Cohen Considers $20M New York Mets Stake
February 3, 2012
Billionaire Steven Cohen of SAC Capital Advisors, viagra 100mg who is among the bidders for Major League Baseball’s Los Angeles Dodgers alongside the South Korean Group E-Land, apoplectic is reported to be close to securing a $20 million stake in fellow MLB side the New York Mets.
The New York Mets has put 10 shares of the club up for sale at $20milion each to help repay the club’s debts to the Bank of America and MLB, which are $40-million and $25 million respectively.
It is understood that an investment in the beleaguered Mets, who lost $70 million last season and cut its payroll by $52 million this year, would not preclude Cohen from owning the Dodgers.
It has been reported that if Cohen was successful in his bid for the Dodgers, he would then divest his stake in the Mets over time.
Neither Cohen or a representative from the Mets has commented on the speculation.
According to Forbes, Cohen’s net worth is estimated at $8.3 billion. His investment in the Mets could lead to a buy out of the club out-right if he is unable to secure the Dodgers.
When The Mets attempt to raise $200 million from one investor alone Cohen was among the interested parties.
He has achieved MLB clearance which could augur well for his chance with the Dodgers, however. All bidders for the Dodgers are under-going stringent evaluation
The current investigation of Cohen’s Connecticut-based investment firm has not impeded the go-ahead. The SAC Capital Advisors records have been subpoenaed as part of federal investigation in which one current and two former SAC employees face charges of insider trading.