Wednesday, 1 April 2015
Last updated 2 hours ago
May 12 2011 | 1:52pm ET
SAC Capital Advisors' Steven Cohen is back in the game for a piece of the New York Mets.
The billionaire hedge fund honcho, who the New York Post earlier this week reported had dropped out of the bidding, is just playing a little hardball with the hard-up baseball team. According to CNBC, Cohen and current Mets owners Fred Wilpon, Jeff Wilpon and Saul Katz are at "a bit of a stalemate right now," but talks are "not dead" and "the goal is to get this thing done ASAP."
Cohen is offering about $200 million for a 49% stake in the team, according to CNBC. But he's not interested in being a passive minority owner: Cohen wants seats on the Mets board and wants "some significant say over how they do what they do." The Wilpons and Katz, however, have insisted on maintaining control of the organization that they have owned or co-owned since 1986.
"Cohen is demanding sort of stiffer terms than the organization was originally prepared to offer," CNBC's Kate Kelly said.
Last week, the Post reported that the Mets had agreed to give Cohen a seat on a newly-created board, and that the two sides were to meet last Friday at a Greenwich, Conn., steakhouse to hammer out the details. But the tabloid said this week that he wasn't interested in answering Major League Baseball's questions about the Justice Department's ongoing insider-trading investigation, including a look at his own trades. Cohen reportedly also previously rejected an appeal from Fred Wilpon to buy a minority stake in the team before the Mets opened the bidding.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…