Steve Cohen owns the New York Mets, having bought the team in 2020 for roughly $2.4 billion — at the time a record price for an MLB franchise. Cohen, founder of the hedge fund Point72 Asset Management, ended the Wilpon family’s long ownership tenure, which had grown increasingly strained after the Wilpons’ entanglement with the Bernie Madoff Ponzi scheme fallout.
Quick Facts
| Team | New York Mets |
|---|---|
| Owner | Steve Cohen |
| Ownership Since | 2020 |
| Purchase Price | ~$2.4 billion (an MLB record at the time) |
| Founded | 1962 |
| League | MLB (NL East) |
| Home | Citi Field, Queens, New York |
Ownership History
| Year | Development |
|---|---|
| 1962 | Mets founded as an NL expansion team |
| 1980-2020 | Owned by the Wilpon family (initially alongside Nelson Doubleday), a four-decade tenure |
| 2008 | The Wilpons’ investments with Bernie Madoff collapse in the broader Ponzi scheme scandal, straining team finances for years afterward |
| 2020 | Steve Cohen completes his purchase of the Mets for approximately $2.4 billion |
| 2022-2026 | Cohen pushes MLB’s highest-ever payrolls in pursuit of a championship, reflecting his hedge-fund-scale financial resources |
Key Ownership Highlights
- Cohen’s $2.4 billion purchase price was a record for an MLB franchise at the time, later surpassed by other league sales.
- The Wilpon family’s ownership became increasingly difficult in its final decade due to fallout from their financial ties to Bernie Madoff’s fraud.
- Cohen’s net worth, built primarily through Point72 and predecessor SAC Capital, has allowed the Mets to spend aggressively on player payroll since his takeover.
FAQ
Who owns the New York Mets?
Steve Cohen, founder of Point72 Asset Management, has owned the team since completing a roughly $2.4 billion purchase in 2020.
Why did the Wilpon family sell the Mets?
Years of financial strain tied to their investment losses in Bernie Madoff’s Ponzi scheme made a sale increasingly likely, culminating in the 2020 deal with Steve Cohen.
Related Reading
See also our profile of fellow National League franchise the St Louis Cardinals.
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