Sterling Partners and Cohen Private ventures released a statement on Wednesday regarding the future of the Mets:
"The Sterling Partners and Steve Cohen are negotiating an agreement in which Steve Cohen would increase his investment in the New York Mets, the statement reads. As part of that agreement, Fred Wilpon will remain in the role of the Control Person and CEO for five years and Jeff Wilpon will remain in his role of Chief Operating Officer for the 5 year period as well.Steve Cohen will continue as CEO and President of Point72 Asset Management and his stake in the Mets will continue to be managed by his family office, Cohen Private Ventures."
Cohen bought a four percent stake in the Mets in 2012 for $20 million. He was also part of a bid to purchase the Dodgers around the same time.
The 63-year-old Cohen -- a native of Great Neck, NY -- is an investor and hedge fund manager who has founded S.A.C. Capital Advisors and Point72 Asset Management.
Fred Wilpon has been the majority owner of the Mets since 2002, when he bought out Nelson Doubleday.
Doubleday and Company and Wilpon purchased the Mets from the Payson family in January of 1980.