Billionaire Steve Cohen agrees to buy the New York Mets

NEW YORK, Sept 15 (Reuters): Billionaire hedge fund manager Steve Cohen has signed an agreement with Sterling Partners to buy the New York Mets baseball team, the two sides said in a statement on Monday.

"I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets," Cohen said in the brief statement. A spokesman for Cohen declined to comment beyond the statement.

Newsday reported that Cohen will own 95 per cent of the franchise, with the deal valuing the club at about $2.475 billion, a record amount for a North American sports team.

Fred Wilpon and his brother-in-law, Saul Katz, purchased their first stake in the team in 1980.