The sale closing is expected within the next 10 days. The 64-year-old Cohen reached an agreement last month to purchase the team for $2.4 billion, and fans are eager to see whether he will spend money on free agents to shore up the team.
Cohen also said today he will donate $17.5 million to New York small businesses and will increase the donations of the Mets Foundation in the coming years. He also said he will reinstitute pre-pandemic salaries for New York Mets employees. The moves are likely a sop to De Blasio, who threatened to scotch his Mets plans, or at least delay them.
Cohen is said to be the model for Bobby Axelrod, a fictional character in the Showtime series Billions. His former hedge fund, S.A.C Capital Advisors, pled guilty to insider trader charges and was fined $1.8 billion. Cohen was reprimanded by the SEC and received a two-year ban from managing outside money. Although Cohen does not have a criminal record from those actions, it raised some doubt as to his final approvals.
Cohen entered exclusive negotiations to buy the club last winter, but the deal fell through over the role of COO Jeff Wilpon in managing the team. That opened the door for a group fronted by Alex Rodriguez and Jennifer Lopez to make a bid, as well as another group headed by 76ers and Devils managing partners David Blitzer and Josh Harris. But Cohen prevailed.
Cohen is also one of the big investors in the Hollywood management company Range Media Partners. The management company has signed 18 clients, including Michael Bay, Emilia Clarke, Bradley Cooper, Johnny Depp, Taron Egerton, Michael Fassbender,and Keira Knightley, among others.