News that SAC Capital’s Steven Cohen is on the cusp of buying a stake in the New York Mets is bound to get hedge funders talking — sports investments have long been considered trophies among the world’s financial elite.
FINalternatives reports that Cohen, who is also said to be considering a $1.5 billion takeover of the Los Angeles Dodgers, is finally about to secure one of 10 minority shares in the Mets for $20 million, after months of talks.
Of course, Cohen isn’t the only banker to have stroked his ego with a big-ticket sports buy.
BASEBALL: David Einhorn wanted to buy a larger share of the Mets, but the deal fell through
Einhorn, the founder and president of Greenlight Capital, was in talks for months over a $200 million investment in the team in exchange for a sizable, non-controlling stake.
The deal collapsed in September, when Mets management decided it wanted to sell smaller parcels of the team to a number of investors, in order to protect the existing ownership structure.
BASEBALL: John Henry is majority owner of the Boston Red Sox
The wealthy futures trader, who founded finance firm John W Henry & Co, oversees one of the most successful baseball franchises in history.
On top of a long list of past pro sport connections, Henry also currently owns English Premier League team, Liverpool Football Club.
BASEBALL: Billionaire Thomas Ricketts is chairman of the Chicago Cubs
Rickets, a Forbes 400 rich lister, is the chief executive of bond house Incapital. His investment in the the Cubs is said to be worth about $642 million.
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