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MLB owners approve sale of Mets to Cohen – TSN

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NEW YORK — The Wilpon family’s control of the New York Mets neared its end after 34 years when Major League Baseball owners voted Friday to approve the sale of the team to billionaire hedge fund manager Steve Cohen.

The vote was 26-4, a person familiar with the meeting told The Associated Press, speaking on condition of anonymity because the balloting was not announced. Cohen needed 75% approval.

The transfer from the Wilpon and Katz families values the franchise at between $2.4 billion and $2.45 billion, a record for a baseball team that tops the $2 billion sale of the Los Angeles Dodgers from Frank McCourt to Guggenheim Baseball Management in 2012. The Mets sale is likely to close within 10 days.

Cohen pledged to inject about $9.5 million in additional payments this off-season for pandemic-hit employees.

“I am humbled that MLB’s owners have approved me to be the next owner of the New York Mets,” Cohen said in a statement. “Owning a team is a great privilege and an awesome responsibility.”

An entity controlled by Cohen will own 95% of the franchise, and the Wilpon and Katz families will retain 5% of the team.

Former Mets general manager Sandy Alderson will return as team president.

“My family and I are lifelong Mets fans, so we’re really excited about this,” Cohen said. “With free agency starting Sunday night, we will be working towards a quick close.”

Cohen said all Mets employees, including unionized groundskeepers, security guards and engineers, will receive restored pre-pandemic salaries as of Sunday that reverse 5-30% salary cuts begun in March. He valued the restoration at over $7 million.

A seasonal relief fund will start Sunday and run through opening day for about 1,000 Citi Field employees of subcontractors that makes each eligible for $500 monthly, a commitment of about $2.5 million.

Cohen pledged to “dramatically increase” giving by the Mets Foundation and to prioritize not-for-profits and causes in the Citi Field area. He agreed to donate $17.5 million to programs developed by New York City to make grants to area small businesses through the New York City Economic Development Corporation.

Cohen made his announcement as New York City Mayor Bill de Blasio said the city does not object to the sale. The city had the right to review the proposed transfer of the lease of Citi Field, the Mets’ home since 2009.

The current Mets ownership group is headed by Fred Wilpon, brother-in-law Saul Katz and Wilpon’s son, Jeff, the team’s chief operating officer. Fred Wilpon turns 84 on Nov. 22 and Katz is 81.

“We appreciate Fred’s decades of service to league committees and the governance of the game,” baseball Commissioner Rob Manfred said in a statement. “Steve will bring his lifelong passion for the Mets to the stewardship of his hometown team, and he will be joined by highly respected baseball leadership as well. I believe that Steve will work hard to deliver a team in which Mets fans can take pride.”

The 64-year-old Cohen is CEO and president of Point72 Asset Management. He first bought an 8% limited partnership stake in the Mets in 2012 for $40 million.

“I know that Steve Cohen and his family share the same passion we’ve had for the Mets and for this city,” Fred Wilpon said in a statement. “Steve will continue, and will build upon, this organization’s longstanding commitment to the support of our community, and of those in need, which is especially important at this time. He shares the view that Saul, Jeff and I have long held, that ownership of the Mets is a public trust.”

The publisher Doubleday & Co. bought the Mets on Jan. 24, 1980, from the family of founding owner Joan Payson for $21.1 million, with the company owning 95% of the team and Wilpon controlling 5%.

When Doubleday & Co. was sold to Bertelsmann AG, the publisher sold its shares of the team on Nov. 14, 1986, for $80.75 million to Wilpon and Nelson Doubleday, who became 50-50 owners.

Wilpon and his Sterling Equities partners completed his buyout of Doubleday on Aug. 23, 2002, ending what had become an acrimonious partnership. Under the original appraisal, Doubleday would have received $137.9 million — half the team’s $391 million value after accounting for debt. Wilpon sued, and the sides then settled.

The Mets failed to win any titles under the Wilpons’ time of sole control and their final dozen years were hampered by financial losses from the Bernard Madoff Ponzi scheme.

“It has been a privilege and honour for our families to have been a part of this great franchise for the past 40 years,” Fred Wilpon said. “We would like to express our deep appreciation for our loyal and passionate fans, who have consistently supported this organization through the years. We’d also like to thank the many great players, managers, coaches and dedicated employees with whom we’ve been privileged to work with through the years.”

Cohen controlled SAC Capital Advisors, which in 2013 pleaded guilty to criminal fraud charges. SAC agreed to pay a $900 million fine and forfeit another $900 million to the federal government, though $616 million that SAC companies had already agreed to pay to settle parallel actions by the U.S. Securities and Exchange Commission was to be deducted from the $1.8 billion.

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French league’s legal board orders PSG to pay Kylian Mbappé 55 million euros of unpaid wages

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The French league’s legal commission has ordered Paris Saint-Germain to pay Kylian Mbappé the 55 million euros ($61 million) in unpaid wages that he claims he’s entitled to, the league said Thursday.

The league confirmed the decision to The Associated Press without more details, a day after the France superstar rejected a mediation offer by the commission in his dispute with his former club.

PSG officials and Mbappé’s representatives met in Paris on Wednesday after Mbappé asked the commission to get involved. Mbappé joined Real Madrid this summer on a free transfer.

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Reggie Bush was at his LA-area home when 3 male suspects attempted to break in

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LOS ANGELES (AP) — Former football star Reggie Bush was at his Encino home Tuesday night when three male suspects attempted to break in, the Los Angeles Times reported Wednesday.

“Everyone is safe,” Bush said in a text message to the newspaper.

The Los Angeles Police Dept. told the Times that a resident of the house reported hearing a window break and broken glass was found outside. Police said nothing was stolen and that three male suspects dressed in black were seen leaving the scene.

Bush starred at Southern California and in the NFL. The former running back was reinstated as the 2005 Heisman Trophy winner this year. He forfeited it in 2010 after USC was hit with sanctions partly related to Bush’s dealings with two aspiring sports marketers.

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B.C. Lions lean on versatile offence to continue win streak against Toronto Argonauts

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VANCOUVER – A fresh face has been gracing the B.C. Lions‘ highlight reels in recent weeks.

Midway through his second CFL campaign, wide receiver Ayden Eberhardt has contributed touchdowns in two consecutive games.

The 26-year-old wide receiver from Loveland, Colo., was the lone B.C. player to reel in a passing major in his team’s 37-23 victory over the league-leading Montreal Alouettes last Friday. The week before, he notched his first CFL touchdown in the Lions’ win over the Ottawa Redblacks.

“It’s been awesome. It’s been really good,” Eberhardt said of his recent play. “At the end of the day, the biggest stat to me is if we win. But who doesn’t love scoring?”

He’ll look to add to the tally Friday when the Leos (7-6) host the Toronto Argonauts.

Eberhardt signed with B.C. as a free agent in January 2023 and spent much of last season on the practice squad before cementing a role on the roster this year.

The six-foot-two, 195-pound University of Wyoming product has earned more opportunities in his second season, said Lions’ head coach and co-general manager Rick Campbell.

“He’s a super hard worker and very smart. He understands, has high football IQ, as we call it,” Campbell said.

The fact that Eberhardt can play virtually every receiving position helps.

“He could literally go into a game and we could throw him into a spot and he’d know exactly what he’s doing,” the coach said. “That allows him to play fast and earn the quarterback’s trust. And you see him making plays.”

Eberhardt credited his teammates, coaches and the rest of the Lions’ staff with helping him prepare for any situation he might face. They’ve all spent time teaching him the ins and outs of the Canadian game, or go over the playbook and run routes after practice, he said.

“I’ve played every single position on our offence in a game in the last two years, which is kind of crazy. But I love playing football,” he said. “I want to play any position that the team needs me to play.”

While B.C.’s lineup is studded with stars like running back William Stanback — who has a CFL-high 938 rushing yards — and wide receiver Justin McInnis — who leads the league in both receiving yards (1,074) and receiving TDs (seven) — versatility has been a critical part of the team’s back-to-back wins.

“I think we’ve got a lot of talented guys who deserve to get the ball and make big plays when they have the ball in their hands. So it’s really my job to get them the ball as much as possible,” said quarterback Nathan Rourke.

“I think that makes it easy when you can lean on those guys and, really, we’re in a situation where anyone can have a big game. And I think that’s a good place to be.”

Even with a talented lineup, the Lions face a tough test against an eager Argos side.

Toronto lost its second straight game Saturday when it dropped a 41-27 decision to Ottawa.

“We’ll have our hands full,” Rourke said. “We’ll have to adjust on the fly to whatever their game plan is. And no doubt, they’ll be ready to go so we’ll have to be as well.”

The two sides have already met once this season when the Argos handed the Lions a 35-27 loss in Toronto back on June 9.

A win on Friday would vault B.C. to the top of the West Division standings, over the 7-6 Winnipeg Blue Bombers who are on a bye week.

Collecting that victory isn’t assured, though, even with Toronto coming in on a two-game skid, Campbell said.

“They’ve hit a little bit of a rut, but they’re a really good team,” he said. “They’re very athletic. And you can really see (quarterback Chad Kelly’s) got zip on the ball. When you see him in there, he can make all the throws. So we’re expecting their best shot.”

TORONTO ARGONAUTS (6-6) AT B.C. LIONS (7-6)

Friday, B.C. Place

HOME FIELD ADVANTAGE: The Lions boast a 4-1 home record this season, including a 38-12 victory over the Redblacks at Royal Athletic Park in Victoria, B.C., on Aug. 31. The Argos have struggled outside of BMO Field and hold a 1-5 away record. Trips to the West Coast haven’t been easy for Toronto in recent years — since 2003, the club is 4-14 in road games against B.C.

CENTURION: B.C. defensive back Garry Peters is set to appear in his 100th consecutive game. The 32-year-old from Conyers, Ga., is a two-time CFL all-star who has amassed 381 defensive tackles, 19 special teams tackles and 16 interceptions over seven seasons. “Just being on the field with the guys every day, running around, talking trash back and forth, it keeps me young,” Peters said. “It makes me feel good, and my body doesn’t really feel it. I’ve been blessed to be able to play 100 straight.”

This report by The Canadian Press was first published Sept. 12, 2024.

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