Vincent Carchietta-USA TODAY Sports

Billionaire hedge fund manager Cohen agrees to buy Mets

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NEW YORK — Billionaire hedge fund manager Steve Cohen has agreed to buy the New York Mets from the Wilpon and Katz families.

The team announced the agreement on Monday. The deal is subject to the approval of Major League Baseball owners.

A Cohen entity would control 95% of the team, with the Wilpon and Katz families retaining the rest. The deal values the franchise at $2.4 billion to $2.5 billion.

Former major league star Alex Rodriguez and fiancee Jennifer Lopez also attempted to buy the team, but they dropped out of the bidding last month.

“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in a statement.

Cohen also entered negotiations to buy the Mets last year, but the deal fell apart in February. He bought an 8% limited partnership stake in 2012 for $40 million. The deal that failed to close would have seen him acquire an 80% controlling share in a transaction that valued the team at $2.6 billion.

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.

Cohen first bought into the Mets when the team sought $20 million in minority investment stakes following the collapse of Bernard Madoff’s Ponzi scheme, which heavily cost the Wilpons and their companies. The limited partnership shares were sold after a proposed $200 million sale of a stake of the Mets to hedge fund manager David Einhorn fell through in 2011.

The 64-year-old Cohen is CEO and president of Point72 Asset Management.

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 Securities and Exchange Commission was to be deducted from the $1.8 billion.

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

When Doubleday & Co. was sold to the media company Bertelsmann AG in 1986, the publisher sold its shares of the team for nearly $81 million to Fred Wilpon and Nelson Doubleday, who became 50-50 owners.

Wilpon led a buyout of Doubleday’s shares in 2002 and became chairman and sole controlling owner. Katz, the owner’s brother-in-law and partner in the real estate firm Sterling Equities Inc., became team president and Jeff Wilpon became COO.

Angels’ Andrelton Simmons opts out of final 5 games

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ANAHEIM, Calif. — Shortstop Andrelton Simmons has opted out of the remainder of the Los Angeles Angels’ season.

The Angels announced the four-time Gold Glove-winning shortstop’s decision Tuesday before they faced the San Diego Padres.

Los Angeles (24-31) is still technically in the playoff race with five games left in the regular season, and Simmons clearly caught the Angels by surprise, although the club said it respected his decision.

The 31-year-old Simmons, who can be a free agent this winter, is finishing his fifth year with the Angels. After spraining his ankle in late July and missing 22 games, Simmons is currently batting .297 with 10 RBIs while playing his usual stellar defense, albeit with four errors in 30 games.

“At this time, I feel this is the best decision for me and my family,” Simmons said in a statement. “We don’t know what the future holds, but we would like to sincerely thank the Angels organization and Angels fans for welcoming and making us feel at home.”

Manager Joe Maddon acknowledged he was caught by surprise when general manager Billy Eppler told him about Simmons’ decision Monday night after Simmons went 1 for 4 with an RBI single in the Angels’ home finale. Maddon texted Simmons, but hadn’t heard back by Tuesday afternoon.

“I’ve really enjoyed this guy a lot,” Maddon said. “I’m a big fan. This guy is a good baseball player, and I’ve enjoyed the conversations, too. It’s just unfortunate. He’s really a big part of what we’re doing right now.”

Simmons is a favorite of Angels fans for his defensive wizardry, and owner Arte Moreno has described Simmons as perhaps his favorite player to watch on the roster. Simmons has batted .281 with 36 homers and 281 RBIs during his five seasons with Los Angeles, and he won the Gold Glove in 2017 and 2018.

“He’s a thinking kind of a player, and I’ve enjoyed him a lot,” Maddon said.

Simmons will be a free agent this winter, and the Angels have an obvious replacement for him in David Fletcher, who has a .374 on-base percentage while regularly hitting leadoff for the Angels during his breakout major league season. Fletcher has been playing second base since Simmons’ return from injury.

But the Angels haven’t publicly closed the door on Simmons’ return, and he could be given a qualifying offer. Maddon has repeatedly said he would like Simmons to return in 2021 if possible.

The Angels haven’t had a winning season during Simmons’ five years in Anaheim, although Simmons said last week he wasn’t discouraged by the lack of team success. Simmons played his first four major league seasons in Atlanta, and he hasn’t appeared in the postseason since 2013.

Simmons also said he hadn’t been involved in any recent contract talks with the Angels, but he had enjoyed playing for the club. When asked if he wanted to return to the Halos, Simmons said he would have to “plead the fifth.”