Cohen has the insider track.
It is August 31st and it is the day that the final bids were supposed to be in to buy the financially ailing New York Mets Major League Baseball franchise. It was expected that three bidders would hand in their proposals which would have excited Mets fans as the fanbase wants to get rid of Fred Wilpon as the team owner. But it appears now that there is just one bidder for the team, Mets minority owner Steve Cohen. Alex Rodriguez put together a group that included National Hockey League Florida Panthers owner Vincent Viola. But that group dropped out of the running on Friday. Alex Rodriguez was the front man and fans have not forgotten the allegations of steroid use when the played. The owners of the NHL’s New Jersey Devils and the National Basketball Association’s Philadelphia 76ers, David Blitzer and Josh Harris, were interested in adding the Mets franchise to their sports holdings. Blitzer and Harris reportedly did not want get into a bidding war for the franchise. Steve Cohen has money but his business record may not be all that attractive to Major League Baseball.
Cohen fanned in his two previous attempts to buy Major League Baseball franchises. In 2012, his bid to buy the Los Angeles Dodgers failed because his bid was not as good as the Guggenheim Partners. But there was a problem with his hedge fund company SAC Capital Advisors. There were accusations of insider trading. Cohen would ultimately beat the rap and not serve jail time although he did pay a fine of $1.2 billion to the Securities Exchange Commission. Now there is an allegation of sexual harassment at Cohen’s hedge firm. Earlier this year, he whiffed trying to buy the Mets. The reports were that Cohen wanted Wilpon’s piece of the local regional cable TV network and that demand killed the deal. Meet the Mets.