Feb 2, 2012, 8:11 AM EDT
Last April Steven Cohen — a bald man with glasses and thus, with the exception of having eight billion dollars to his name, is like me in most respects — was reported to be interested in buying into the Mets. Then that all went away as he got involved in the bidding for the Los Angeles Dodgers.
But guess what? He still wants that minority stake in the Mets, and according to the Los Angeles Times, he is on the verge of getting that stake:
Steven Cohen, the billionaire investor trying to buy the Dodgers, is on the verge of becoming a minority owner in his hometown New York Mets. The deal would not preclude Cohen from pursuing the Dodgers, according to two people familiar with the transaction but not authorized to discuss it.
Not surprisingly, a hedge fund guy is hedging his bets. If he gets the Dodgers, he owns the Dodgers. If he doesn’t, he has his foot in the door and is through the approval process with Major League Baseball in the event that the Mets are sold outright.
In that case — assuming the team isn’t in bankruptcy — the blessing of Major League Baseball will be way more important than almost anything. And having given Bud Selig’s best buddy Fred Wilpon $20 million to tide him over will certainly put Cohen in Selig’s good graces.
But if he gets the Dodgers, he will have to sell that Mets stake. Which seems like it’d be difficult. But I guess we can file that under Billionaire Hedge Fund Manager Problems.
- And That Happened: Sunday’s scores and highlights 67
- Report: Brewers hire Craig Counsell to replace Ron Roenicke 24
- Brewers fire manager Ron Roenicke 53
- Jordan Walden lands on disabled list with biceps injury 11
- Rays place outfielder Desmond Jennings on 15-day disabled list with bursitis in his left knee 1
- Settling the Score: Saturday’s results 34
- Torii Hunter doesn’t care what Floyd Mayweather has done outside of the boxing ring 133
- Yankees GM Brian Cashman acknowledges team won’t pay A-Rod $6 million bonus for 660th home run 69
- Pitchers batting is dumb and the DH should be universal (363)
- Comment of the Day: do not underestimate the seriousness of the anti-DH crowd (201)
- Monday’s White Sox/Orioles game postponed due to ongoing protests and violence in Baltimore (162)
- Torii Hunter doesn’t care what Floyd Mayweather has done outside of the boxing ring (133)
- The Orioles will play to no fans tomorrow; this weekend’s series will move to Tropicana Field (125)