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Billionaire reaches agreement to buy New York Mets

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Billionaire Steve Cohen yesterday reached an agreement to purchase the majority ownership in the New York Mets.

The financial terms of the deal were not released, but in a previous attempt at buying the team, Cohen sought an 80% controlling stake that valued the Mets at $2.6 billion. He bought an 8% limited partnership stake in the team for $40 million in 2012.

A hedge fund manager, Cohen needs the approval of at least 23 of the 30 MLB club owners before the deal can close.

Read more from ESPN.


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