Once upon a time, a rich hedge fund manager was going to pump some money into the Mets
. But ultimately, David Einhorn and his $200M backed out of the deal.
Now come rumors that another wealthy hedgie - SAC Capital's Steven Cohen - may buy a $20M stake in the team.According to Bloomberg
, Cohen may be hedging his baseball bets, as he has also put in a bid to buy the Dodgers:
The piece in the cash-strapped Mets wouldn't bar Cohen from
owning the Dodgers, who are being sold in an auction by Frank McCourt, said the person, who was granted anonymity because no
one is authorized to discuss either sale publicly.
Should Cohen, 55, get the Dodgers, the person said, he
would over time divest his stake in the Mets, who lost $70
million last season. Cohen's net worth is $8 billion, according
Cohen's investment in the Mets might give him an advantage
over others should the National League team be put up for sale,
the person said.
Cohen was reportedly outbid by Einhorn for a bigger partnership in May, 2011. At least someone is excited about putting money into this team.