Thursday, 29 January 2015
Last updated 12 hours ago
May 4 2011 | 11:07am ET
By the end of this month, there's a 50/50 chance that the New York Mets will have a hedge fund manager as co-owner.
The baseball team, whose current owners have been sued for more than $1 billion in the Bernard Madoff Ponzi scheme case, is likely to announce a minority owner before June 1, ESPN reports. Two of the four groups that remain in contention are headed by hedge fund managers Steven Cohen and Anthony Scaramucci.
Competing with the SAC Capital Advisors and SkyBridge Capital chiefs are 1-800-Flowers.com founder James McCann and two former commodity traders from Glencore International, Ray Bartoszek and Anthony Lanza.
Fred Wilpon, Jeff Wilpon and Saul Katz, the current owners, are willing to sell up to 49% of the team, and are seeking at least $200 million to help float the struggling Mets, who were forced to take a $25 million loan from Major League Baseball last year.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…