1:07 pm: As part of the sale, Andrew Cohen (no relation to Steve) will become the Mets’ vice chairman, reports Tim Healey of Newsday (Twitter link). Steve Cohen’s wife Alexandra will also pick up a small ownership stake in the franchise, per various reporters (including Deesha Thosar of the New York Daily News).
12:39 pm: The sale of 95% of the Mets from Fred and Jeff Wilpon to Steve Cohen officially closed this afternoon, per various reporters (including Andy Martino of SNY). The Mets have confirmed the news. With that, Cohen officially becomes the club’s majority owner.
Today’s development is something of a formality, as it became apparent Cohen cleared the final major hurdle in the sales process when he got approval from the league’s owners last week. Nevertheless, Mets fans will surely be happy to put a bow on the year-long saga, which saw Cohen’s negotiations with the Wilpons last offseason fall through. Ultimately, the parties came back to the table this summer after Cohen beat out a few competitors for exclusive negotiating rights. This time, they agreed upon a sale for around $2.475 billion.
There’s plenty of hope among fans Cohen will greenlight a significant uptick in the team’s payroll. He and incoming team president Sandy Alderson can now officially turn to addressing the roster.