Tag Archives: owner

Mets’ likely savior Steve Cohen is controversial free spender who ‘f—ing hates to lose’

The potential new owner of the Mets may have faults — but spending money is not one of them.

Billionaire hedge-fund manager Steve Cohen — in talks to buy 80 percent of the Mets — is a huge modern art collector with a penchant for setting records at auctions. Just this May, he set a new record for a living artist when he forked over $91 million at auction for a Jeff Koons bunny sculpture. In 2015, he was the secret buyer of the world’s most expensive sculpture, Alberto Giacometti’s “Man Pointing,” for $141.3 million at Christie’s.

His art collection, valued at more than $1 billion, has included a sculpture made of frozen blood and a shark floating in formaldehyde.

Cohen — who is notorious on Wall Street for multiple insider trading scandals — also once paid Food Network star Guy Fieri $100,000 to drive around Connecticut eating with him. And his Greenwich, Conn., mansion is equipped with a 6,700-square-foot skating rink that has its own Zamboni machine.

It’s unclear if Cohen is as interested in spending as much money on the bullpen as he is on sculptures and real estate. But fans frustrated with what they see as the Wilpons’ tight-fisted ways say they’re hopeful Cohen will share his massive wealth with the team.

Cohen, worth $13.6 billion according to Forbes, is a welcome sight for Mets fans who haven’t celebrated a World Series victory since 1986.

Steve Cohen
Steve CohenBloomberg via Getty Images

Even Wall Streeters who loathe the 63-year-old trading titan for his infamous ruthlessness say he might just be a better owner than the Wilpons.

“Part of me wishes this was literally any other guy, but the other part of me remembers that Steve f—ing hates to lose,” one hedge fund manager and Mets fan told The Post.

In addition to his big spending, Cohen is also known for his epic battle with former Manhattan U.S. Attorney Preet Bharara, which became the inspiration for the hit Showtime series “Billions” and the Bobby Axelrod character.

Bharara’s yearslong probe of Cohen’s now defunct firm, SAC Capital, resulted in eight insider trading convictions against SAC traders and analysts, some of which were later reversed on appeal.

One conviction that stuck was against Mathew Martoma, an SAC trader who was accused of pulling off the largest-ever insider trading scheme, which prosecutors said netted SAC $276 million in 2008. He was sentenced to nine years in prison in 2014.

Cohen was never charged, but suffered regulatory pushback over the charges, which resulted in $1.8 billion in fines and an agreement with the Securities and Exchange Commission in 2016 that banned him from managing money for two years.

He also agreed to operate under the supervision of an outside consultant until the end of this year.

Cohen relaunched SAC as Point72 in late 2016 and began managing outside money the day his ban ended. Point72 has more than $14 billion under management.

Cohen sent an email to his investors Wednesday, in part saying, “If the deal goes through I expect that my roles at Point72 will not change. Period.”

He added, “Cohen Private Ventures will manage my stake in the Mets as it has done since 2012.”

Cowboys owner Jerry Jones on expectations: ‘I want Jason (Garrett) to get it done’ – USA TODAY

Cowboys owner Jerry Jones on expectations: ‘I want Jason (Garrett) to get it done’ – USA TODAY Server: Varnish Retry-After: 0 Content-Length: 0 Location: https://eu.usatoday.com/story/sports/nfl/cowboys/2019/11/27/dallas-cowboys-jerry-jones-jason-garrett/4321838002/ Accept-Ranges: bytes Date: Thu, 28 Nov 2019 01:02:20 GMT Via: 1.1 varnish Connection: close X-Served-By: … read more