NEW YORK (AP) — The Wilpon family’s control of the New York Mets neared its end after 34 years when Major League Baseball owners voted Friday to approve the sale of the team to billionaire hedge fund manager Steve Cohen.
The vote was 26-4, a person familiar with the meeting told The Associated Press, speaking on condition of anonymity because the balloting was not announced. Cohen needed 75% approval.
The transfer from the Wilpon and Katz families values the franchise at between $2.4 billion and $2.45 billion, a record for a baseball team that tops the $2 billion sale of the Los Angeles Dodgers from Frank McCourt to Guggenheim Baseball Management in 2012. The Mets sale is likely to close within 10 days.
Cohen pledged to inject about $9.5 million in additional payments this