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Steve Cohen closes on purchase, officially owns the Mets

The Mets officially have a new owner.

Lincoln Center Alternative Investment Gala Photo by Dave Kotinsky/Getty Images for Lincoln Center

Break out the champagne, everyone: Steve Cohen has closed on his purchase of the Mets, officially taking over as the team’s new majority owner. A press conference is expected Tuesday per Joel Sherman, and Cohen himself confirmed the news on Twitter. With the offseason still in something of a holding pattern despite free agency opening last Sunday, the Mets’ new ownership group managed to gain control of the team without missing any major action. The Mets released a statement about Cohen’s purchase.

This news is definitely a formality more than anything, as the final hurdles were crossed last Friday when MLB’s other owners and the NYC law department approved the purchase. Still, the Mets are now owned by the richest owner in sports in an offseason where money will be tight around the league. Hopefully there will be some free agent fireworks before too long as the organization can flex its newfound financial advantages and spend like a big market team should.