Sale of SNY to Mets’ Steve Cohen is on hold … for now

New York Mets new owner Steve Cohen is looking to turn a double play. Fresh off his deal to buy the club, he wants to add SNY, the cable TV home of the Mets, to his portfolio.

But Sportico reports Cohen will have to wait a while before he can buy the network.

Sources close to the Mets say the Wilpons may not put SNY on the blocks until after MLB owners vote to approve Cohen’s purchase of the Mets—a formality that some insiders believe will happen well before the bosses meet for their annual mid-November conclave.

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The New York Post reports “there have been no talks, though, between Cohen and the Wilpons about SNY, sources said, disagreeing with media reports Tuesday saying Cohen has an exclusive 30-day window to buy SNY once he closes the Mets deal.”

Cohen, a billionaire hedge fund manager, closed the deal last week to purchase the Mets in a transaction which put the value of the franchise at more than $2.4 billion. All that’s needed now is approval from 23 of MLB’s 29 owners.

Cohen entered into exclusive negotiations last month to buy the Mets, beating a bid from the power couple of former New York Yankees slugger Alex Rodriguez and fiancee Jennifer Lopez, as well as an offer from New Jersey Devils and Philadelphia 76ers owners Josh Harris and David Blitzer.

Earlier this month, Forbes released its updated list of the 400 wealthiest people in the U.S. Cohen is No. 36 with $14.5 billion.

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