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Potential Mets investors include a hedge fund manager

Apr 13, 2011, 8:45 AM EDT

mets logo hat AP

I guess if you’re in he hedge fund business you’re going to have a lot of friends who are hedge fund managers. That seems to be the case with the Mets’ owners anyway, as it is being reported in the New York Times that hedge fund manager Steven A. Cohen — you always get a middle initial when you’re rich — may very well be the favored bidder for a minority share in the Mets.  As the Times reports, Cohen was approached by the Wilpon/Katz ownership group last year but declined.  People who know Cohen tell the Times that they are surprised that Cohen would want to take a minority stake in the Mets, but Cohen himself isn’t talking.

Other potential investors are also named, at least one of whom we’ve heard of before: Anthony Scaramucci, another hedge fund guy, and James McCann, the founder of 1-800-Flowers.com, who met with Fred Wilpon down at Mets spring training.

The timeline for the Mets to pick an investor is unclear.

  1. sdelmonte - Apr 13, 2011 at 9:29 AM

    The article mentions this guy is being investigated by the SEC. That doesn’t fill me with confidence, though at this point, most billionaires don’t fill me with confidence.

    • chrisny3 - Apr 13, 2011 at 11:45 AM

      There is no mention of the SEC in that article. There is mention of charges being brought against two ex-traders of Cohen’s firm for insider trading, but no mention of the SEC. Perhaps you were confused by mention of “SAC” which is the name of Cohen’s firm, and his initials.

      Also, contrary to some misconceptions, the investment by Cohen in the Mets would be a personal one, and not part of his business and hedge fund activities.

  2. Jonny 5 - Apr 13, 2011 at 10:24 AM

    Ok, My first question is why would anyone invest in the Mets right now? They can’t turn a profit. There is talk of unloading some key players, and this will probably result in them taking more of a bath as the fans will lose even more interest in coming to games. I mean regardless of the salaries of these guys they won’t be replacing them with players that are as good. More losses will probably equal less seats being filled imo. Then there’s the whole “lawsuit thing”. Then there’s the other “lawsuit thing” from the lady being squashed. Are there any other “lawsuit things” in the making? Any I missed? Probably.

    • cur68 - Apr 13, 2011 at 10:54 AM

      Actually J5, if recent history is any judge, this is pretty typical HF investing right here; buy into something crappy. Invest your client’s dough in it. Take your fees and when it goes bust, run away with the dough. I can’t believe people still go in for these funds. Its just some a-hole investing your dough aggressively while telling you its low risk. On a serious note, the Mets will turn a profit again, but not for the next 10 or more quarters. Hope the clients can wait that long.

      • cleverbob - Apr 13, 2011 at 11:37 AM

        You nailed it. They’ll probably march in, strip the organization down until it’s too lean to function properly, then take their share and hit the road before it hits the fan.

  3. BC - Apr 13, 2011 at 10:51 AM

    MarkCubanMarkCubanMarkCubanMarkCuban….. nah, that one’s getting old….

  4. jimbo1949 - Apr 13, 2011 at 4:57 PM

    “you always get a middle initial when you’re rich”
    or arrested

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