The New York Submit: Hedge Fund Billionaire Steve Cohen Agrees To N.Y. Mets to purchase from the Wilpon household

Now it is up to the 29 other Major League owners to decide whether Steve Cohen will be the next owner of the Mets.

Cohen and the Wilpons agreed to sell the team on Monday, the Mets said.

The deal is between $ 2.4 billion and $ 2.45 billion. The previous record for a North American sports team was $ 2.275 billion, for which the Carolina Panthers were sold to another hedge fund billionaire, David Tepper.

That means the next hurdles will be for Cohen to be reviewed by an ownership subcommittee, which will then give the larger group a recommendation on whether to accept Cohen into their club. A vote of all owners is expected before November and it would take Cohen 23 years to replace Fred Wilpon, Jeff Wilpon and Saul Katz as majority owners of the Mets.

"I am pleased to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets," Cohen said in a statement.

The hedge fund billionaire is a polarizing figure and there is no guarantee that he will get the required votes. His company paid $ 1.8 billion in fines for insider trading and is currently being sued for gender discrimination.

However, money often wins. Cohen is valued at around $ 14 billion and owners generally like franchises selling at high prices as it affects their valuations as well.

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