Steve Cohen has been approved by MLB’s Ownership Committee, moving him one step closer to officially becoming the New York Mets owner.
Scott Soshnick and Barry M. Bloom of Sportico report that hedge fund billionaire Steve Cohen‘s bid to purchase the New York Mets has been approved by MLB’s Ownership Committee. That leaves Cohen with just two hurdles left before his purchase becomes official.
The MLB Ownership Committee, headed by Pittsburgh Pirates owner Bob Nutting, isn’t the vaunted owners’ vote. Instead, the committee is a small group of owners that vets potential new owners and provides an opinion on how MLB and the other owners should vote.
With the latest news, Cohen’s approval is a near certainty, but the process hasn’t concluded. MLB is still running its own process and has yet to approve the sale. Once MLB does, it’ll come down to a final owners’ vote.
Cohen is expected to pass the ownership vote, but that’s not a guarantee. It’s been reported by multiple outlets that Chicago White Sox owner Jerry Reinsdorf is against Cohen’s purchase. Reinsdorf is a friend of Alex Rodriguez and was supporting his bid to purchase the Mets, which could still go through if Cohen is denied.
This wouldn’t be the first time Reinsdorf has cost Cohen a team. He was also against Cohen’s potential purchase of the Los Angeles Dodgers in 2012. His influence no doubt played a role in Cohen losing out on the team despite having the highest bid.
It’s true that things appear to be going smoothly for Cohen at this point, but nothing is guaranteed.