Billionaire Steve Cohen Bought the NY Mets For 2.42 Billion

Billionaire hedge fund manager Steve Cohen bought the New York Mets from the Katz and Wilpon families.

Cohen, who once owned 8% of the franchise, assumed 95% ownership of the Mets.The Katz and Wilpon families have retained the remaining 5%.

Because it is believed the sale value of the Mets was $2.42 billion—it makes the club the most expensive MLB franchise in history to date.

The previous record was the $2.15 billion paid for the Los Angeles Dodgers in April 2012.

Cohen, who is worth over $10 billion, was approved by 23 MLB owners by vote.