‘Passion and resources’

In Connecticut, those who know baseball, and who know Steven Cohen, approve of possible Mets deal

GREENWICH — News that Greenwich’s Steven Cohen appears to be closing in on a deal to own the New York Mets had local baseball fans, and those who know the billionaire hedge fund manager and his wife Alexandra, voicing their support for the possible transaction Monday.

Cohen — who reportedly beat out other high-profile prospective buyers, including former New York Yankee Alex Rodriguez and singer Jennifer Lopez — would bring deep pockets to a team that has struggled financially in the last decade.

“Even though I’m a big Yankee fan I’m rooting for them to purchase them,” Greenwich First Selectman Fred Camillo said Monday.

Camillo doesn’t have a personal relationship with Cohen, who lives in a 35,000-square-foot estate in North Greenwich. But he has met with Alexandra Cohen, who reached out to Camillo with ideas for the town after his 2019 election.

“The Cohens are pretty active here in town,” Camillo said. “They’re very civic minded and they’re huge Mets fans, so I think they’ll pour heart and soul into it.”

The Cohens also have the support of Stamford-native and former Mets manager Bobby Valentine, who said over the weekend, “At this time, having a local person with the skill set of Steve Cohen would be a very good thing.”

Cohen, 64, has an estimated net worth of $14 billion and would become the wealthiest owner in Major League Baseball.

Currently, Cohen owns minority shares in the team. Plans earlier this year to secure a $2.6 billion deal for a majority stake fell through, with Cohen and the current owners, Fred and Jeff Wilpon, disagreeing over a clause that would have let Jeff Wilpon — also a Greenwich resident — remain in his role as COO for an extended period.

The negotiations have since been resuscitated, but the purchase would ultimately require approval from 23 of 30 MLB owners. The deal would raise the value of Major League Baseball franchises in general, but Cohen doesn’t come to the table without some controversy.

While locally Cohen, who is an influential Republican political donor, is celebrated for his philanthropy, his hedge funds — formerly SAC Capital and currently Point72 Asset Management located in the Waterside neighborhood of Stamford — have been the source of some trouble in recent years.

In 2012, SAC Capital was the focus of a Security and Exchange Commission investigation into insider trading. Cohen wasn’t indicted in the probe, but other SAC employees were. In total, SAC Capital Advisors paid a record-setting $1.8 billion in fines. More recently, Point72 Assets has faced multiple discrimination complaints from female employees. Cohen, again, was not personally implicated.

In Greenwich and Stamford, the Cohens are known for sizable contributions to entities including the Bruce Museum and the Mill River Park Collaborative — the nonprofit that recreated Stamford’s central park in the past decade.

According to Scott Smith, director of marketing and communications at the Bruce Museum, the Cohens are big supporters of the “Museum’s educational programs about art, and the Campaign for the New Bruce.” Through the Steven and Alexandra Cohen Foundation, the Cohens donated $5 million in 2019 to fund the expansion of a new Education Wing at the museum.

Over the Stamford border, the Cohens were major donors behind key elements of the Mill River Park renovation.

“Steve and Alexandra Cohen had a keen interest in the youth of Stamford, particularly kids at risk of obesity,” said Arthur Selkowitz, chairman of the Mill River Park Collaborative’s Board of Directors. “So we approached them and pitched the idea that an outdoor ice rink would be a terrific way to activate kids in the winter. They loved the idea and were very generous in funding not only the ice rink, but also the interactive fountain that we have. So they had a year-round presence.”

The ice rink opened in 2018. Selkowitz, who worked directly with the Cohens to secure the donation, is all in favor of the Mets deal.

“The idea of Steve Cohen buying Mets is a terrific idea,” Selkowitz said. “They certainly could use his passion and resources.”

Contributed photo Billionaire hedge fund manager Steven Cohen and his wife Alexandra in a file photo. Cohen is bidding for a majority stake in the New York Mets.