Thursday, 25 December 2014
Last updated 1 day ago
Feb 29 2012 | 4:26am ET
Steven Cohen isn't a New York Yankees fan, but Mickey Mantle's number seven has proven the SAC Capital Advisors' lucky number this week.
Cohen is among seven finalists to buy the Los Angeles Dodgers, it emerged Monday. He's also the owner of one of seven new minority stakes in his favorite baseball team, the New York Mets.
The Mets said Monday that it had completed the sale of seven 4% stakes in the team, raising $140 million. Cohen is the only individual buyer whose name has been publicly reported, although all three are known to be friends of the Wilpons, who have owned the Mets since 1980. Four of the shares were purchased by SportsNet New York, the Mets' television network, which is co-owned by the team, Comcast Corp. and Time Warner Cable.
The Mets are awaiting the approval of three other minority investors by Major League Baseball, bringing to $200 million the amount raised by the cash-strapped team as its owners face a possible trial in a lawsuit brought against them by the receiver in the Bernard Madoff Ponzi scheme.
Happy as he may be to have Mets mascot Mr. Met at his disposal, Cohen may soon have to sell his Mets stake. Dodgers owner Frank McCourt this week whittled the list of suitors for his team down to seven groups, including Cohen and his partner, sports agent Arn Tellem. Cohen and the other remaining bidders now face an MLB screening process, with McCourt to announce a new owner on April 1. If Cohen is selected, he'll have to sell his Mets stake.
Private equity honchos Thomas Barrack and Leo Hindery also made the final seven.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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