February 5, 2020 / 12:35 AM / 2 months ago

Billionaire Steve Cohen ends talks to buy New York Mets: CNBC's Faber

FILE PHOTO - Jul 13, 2019; Miami, FL, USA; A general view of a New York Mets hat and glove on the steps of the dugout in the game between the Miami Marlins and the New York Mets at Marlins Park. Mandatory Credit: Jasen Vinlove-USA TODAY Sports

(Reuters) - Billionaire hedge fund manager Steve Cohen has ended negotiations to buy the New York Mets, CNBC's David Faber said here on Tuesday.

In December, Cohen had said he was in talks with the owners of Mets, the Wilpon family, that would see him increase his investment, but leave its current owners in charge of the team for another five years.

Cohen bought a 4% stake in the Mets in 2012.

“The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment,” said Sterling Partners, the Mets’ owners.

Cohen did not respond to a request for comment.

Reporting by Amal S in Bengaluru; editing by Uttaresh.V

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