News that SAC Capital’s Steven Cohen is on the cusp of buying a stake in the New York Mets is bound to get hedge funders talking — sports investments have long been considered trophies among the world’s financial elite.
FINalternatives reports that Cohen, who is also said to be considering a $1.5 billion takeover of the Los Angeles Dodgers, is finally about to secure one of 10 minority shares in the Mets for $20 million, after months of talks.
Of course, Cohen isn’t the only banker to have stroked his ego with a big-ticket sports buy.
Einhorn, the founder and president of Greenlight Capital, was in talks for months over a $200 million investment in the team in exchange for a sizable, non-controlling stake.
The deal collapsed in September, when Mets management decided it wanted to sell smaller parcels of the team to a number of investors, in order to protect the existing ownership structure.
The wealthy futures trader, who founded finance firm John W Henry & Co, oversees one of the most successful baseball franchises in history.
On top of a long list of past pro sport connections, Henry also currently owns English Premier League team, Liverpool Football Club.
Attanasio in a Los Angeles investment principle who founded Crescent Capital Group (formerly TCW/Crescent Mezzanine).
He also owns a stake in the American Hockey League team, The Milwaukee Admirals
NBA: Wycliffe Grousbeck is part of a consortium that bought the Boston Celtics for $360 million in 2002
Gilbert (right), the chairman and founder of Detroit mortgage lender Quickens Loans, also has sizable investments in the American Hockey League's Lake Erie Monsters, the Arena Football League's Cleveland Gladiators, and the NBADL's Canton Charge.
Gores, founder of Platinum Equity, is a big name in private equity.
He views his investment in the Pistons partly as an entertainment buy, because it also awarded him ownership of the team's parent company, Palace Sports & Entertainment.
NBA: Russian presidential candidate Mikhail Prokhorov became the first foreign NBA owner when he bought the New Jersey Nets in 2009
Vanderbeek resigned as vice president of Lehman Brothers in 2004, a couple of years after he took control the Devils.
The loss-making team may have to file for bankruptcy because it is months late on an $80 million debt payment.