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Billionaire Steve Cohen's purchase of New York Mets gets approval from MLB owners

·1-min read

(Reuters) - Major League Baseball (MLB) said on Friday that the owners of the Major League Clubs have voted in favor of the sale of the New York Mets to billionaire hedge fund manager Steve Cohen.

The 64-year-old Cohen, who is a New York native and a lifelong Mets fan, signed an agreement with Sterling Partners to buy the New York Mets baseball team in September.

The sale is expected to close within the next 10 days, MLB tweeted https://twitter.com/MLB_PR/status/1322252061522743297 on Friday.

Cohen, who failed to purchase a majority stake last November, had to outbid former New York Yankee Alex Rodriguez and his pop star fiance Jennifer Lopez to own the Mets.

An infusion of cash from Cohen could help the Mets become World Series title contenders. The franchise, which was founded in 1962, has won two titles, the last one coming in 1986.

(Reporting by Akanksha Rana in Bengaluru; Editing by Maju Samuel)