Billionaire Steve Cohen reached a deal to buy the New York Mets baseball team on Monday for a reported value of about $2.42 billion.
“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in a statement from the team announcing the deal.
It comes after an earlier move to buy the team fell through in February.
The sale must still be approved by 23 of the 30 Major League Baseball team owners before it can become official. While Cohen already owns a minority stake in the team, which he acquired in 2012, his legacy is fraught with controversy. Mets may now have an owner committed to spending to make the team contenders.