Cohen Makes Play For Mets Stake

Apr 13 2011 | 12:46pm ET

Noted New York Mets fan Steven Cohen has apparently had a change of heart about buying a piece of the last-place club.

The SAC Capital Advisors founder has put his name forward as a potential buyer of a minority stake in the Amazins, The Wall Street Journal reports. Team owners Fred Wilpon and Saul Katz, who lost some $500 million in the Bernard Madoff Ponzi scheme and who have been sued for in excess of $1 billion by the court-appointed trustee in the case, are shopping as much as 49% of the Mets to help float the debt-laden team.

The move may be something of an about-face for Cohen. In February, when the Mets began looking for a minority owner, it was reported that both Cohen and Avenue Capital Partners' Marc Lasry rejected a personal appeal from Wilpon. Cohen, like Madoff a friend of Wilpon, reportedly refused to countenance spending any of his billions on anything less than a controlling stake in the Mets.

Cohen's not alone among alternative investments players with an eye for Flushing's finest. Others include Marc Spilker, Goldman Sachs' former head of hedge funds and president of Apollo Global Management, SkyBridge Capital's Anthony Scaramucci, Leo Hindery of private equity shop Intermedia Partners, Marc Utay of p.e. firm Clarion Capital Partners, and Steven Starker, co-founder of BTIG, a broker-dealer catering to the alts. community.

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