Mets announce billionaire Steve Cohen has reached deal to buy team

FLUSHING, Queens (WABC) -- The New York Mets have announced that there has been an agreement reached for billionaire hedge fund manager Steve Cohen to buy the team.

The deal is reportedly worth $2.4 billion. This would make it the largest deal for a North American sports tem in history.

"I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets," Cohen said in a statement.

Cohen will own 95 percent of the club, with the Wilpon and Katz families owning the remaining 5 percent. SNY is reportedly not part of the deal.

The transaction is subject to the approval of the MLB club owners.

Cohen grew up on Long Island, and is a lifelong Mets fan.

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