MLB ownership committee approves Mets sale to Steve Cohen

The New York Mets are one step closer to having a new owner. 

Roughly one month after stories surfaced that billionaire hedge fund manager Steve Cohen had an agreement to purchase the Mets from the Katz and Wilpon families, Scott Soshnick of Sportico and the Associated Press (h/t ESPN) reported that MLB's ownership committee has reviewed and approved the transaction. 

The commissioner’s executive council is also expected to sign-off on the sale, which could be finalized soon after the conclusion of the World Series that begins Tuesday evening. Game 7 of the Fall Classic, if needed, will take place Oct. 28. 

Soshnick confirmed back in September that Cohen, who began the year owning 8% of the Mets, will assume 95% ownership of the club. The Katz and Wilpon families are expected to retain the remaining 5%. While earlier stories claimed that no bidder would accept a deal that didn't involve television sports network SNY, the cable home of the Mets, Soshnick added that the channel isn't included in the team sale. 

It's believed Cohen will pay $2.42 billion for the Mets, a record sale for any MLB team. Guggenheim Baseball Management, fronted by NBA Hall of Famer Magic Johnson, acquired the Los Angeles Dodgers for $2.15 billion in the spring of 2012.