Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 7:49am ET

Nope. So don’t ask him again.

“Steve Cohen has no interest in the Nets,” Jonathan Gasthalter, spokesman of Cohen’s shop Point72 Asset Management, told Bloomberg in an e-mailed statement. “He is focused on making Point72 the premier investment firm in the industry, while adhering to the highest ethical standards.”

The rumors emerged after Scott Soshnick, a reporter at Bloomberg, tweeted that Cohen’s representatives had met with owner Mikhail Prokhorov’s bankers at Evercore.

But 40 minutes later, Soshnick reported Gasthalter’s comments.

Prokhorov is attempting to sell his 80% stake in the NBA team, which has underperformed with him at the helm. Cohen did have a private meeting about the possible sale, according to Bloomberg.

Although Cohen isn’t in, some other hedge-fund and private-equity names could emerge as possible contenders for the franchise. The New York Post has reported TPG Capital partner David Bonderman and Greenlight Capital founder David Einhorn have expressed interest.

Cohen, meanwhile is focusing on building his company after insider trading allegations rocked his former firm SAC Capital in 2012.

He’s also likely to remain a one-sport owner.

A Long-Island native, Cohen is a large investor in the New York Mets and had attempted to purchase the Los Angeles Dodgers.


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