For the second time in the past year, billionaire Steven A. Cohen is in the driver’s seat to acquire a majority stake in the New York Mets.
Mr. Cohen—who saw a previous bid for the team collapse earlier this year—has entered exclusive negotiations with the Wilpon family to purchase the club, a person familiar with the matter said. A Mets spokesman said, “We won’t be giving updates on the timeline or process until we are prepared to make a public announcement.”
Mr. Cohen beat out two other groups, including one fronted by former baseball superstar Alex Rodriguez and pop star Jennifer Lopez, and another led by private-equity executives Josh Harris and David Blitzer, whose Harris Blitzer Sports & Entertainment also owns the Philadelphia 76ers NBA team.
News of Mr. Cohen entering exclusive negotiations was first reported by CNBC.