Thoroughbred Owner Cohen Approved to Become Mets' Owner
Image:
Description:
Photo: Amy Gaskin
Steve Cohen (right) at the 2019 Breeders' Cup with Sol Kumin (left).
Steve Cohen, a partner in Sol Kumin's various Thoroughbred ownership groups, received approval Oct. 30 from Major League Baseball owners to become the owner of the New York Mets.
The 64-year-old Cohen is purchasing 95% of the team for a price reported to be between $2.4 billion and $2.5 billion from the current ownership group headed by Fred Wilpon, his son Jeff, and Saul Katz.
"On behalf of Major League Baseball, I congratulate Mr. Cohen on receiving approval from the major-league clubs," MLB commissioner Rob Manfred said in a statement about the billionaire hedge fund manager. "Steve will bring his lifelong passion for the Mets to the stewardship of his hometown team, and he will be joined by highly respected baseball leadership as well. I believe that Steve will work hard to deliver a team in which Mets fans can take pride."
Cohen, the president of Point72 Asset Management, currently has a share in Kumin's three active stables—Madaket Stables, Head of Plains Partners, and Monomoy Stables—that usually team with other ownership groups to purchase horses.
Through those partnerships, as well as Sheep Pond Partners, Cohen has owned a share of 2018 Triple Crown champion Justify , Lady Eli, and Midnight Bisou and been a part of more than 60 grade 1 wins. The group's current roster of horses includes Kentucky Derby Presented by Woodford Reserve (G1) winner Authentic, 2018 champion 3-year-old filly Monomoy Girl, and 2019 TVG Breeders' Cup Mile (G1T) winner and champion turf female Uni, all of whom are scheduled to race Nov. 7 in the Breeders' Cup at Keeneland.
Kumin worked as COO at Cohen's SAC Capital Advisors until he left in 2014 to form his own company.