Hedge fund guru Steve Cohen, declared the frontrunner for a minority share in the Mets by the Post, has now lost interest in buying into the team, the newspaper reported. The Post added that Fred Wilpon and partners are now reapproaching bidders whose inquiries were originally rejected. The report also suggested it's now impractical for the minority partner to be identified by the upcoming ownership meetings.
The reports states:
Cohen may be falling from his leadership position because MLB, which must approve his investment, has some questions about the reported federal probe into trading activity at Cohen's SAC Capital, a source close to the situation said. The Wall Street Journal last week reported that prosecutors are investigating trades in Cohen's personal account at SAC Capital since he made trades recommended by former associates who have pleaded guilty to insider trading.