Who owns the New York Mets? The answer is Steve Cohen, the hedge fund billionaire who took control of the franchise in 2020.
Cohen built his fortune running Point72 Asset Management and, before that, S.A.C. Capital Advisors, one of the largest and most talked about hedge funds on Wall Street.
He bought the Mets from the Wilpon and Katz families for roughly $2.4 billion, a record price for a Major League Baseball team at the time.
Since then he has spent more on player payroll than any other owner in baseball, chasing a first title for the club since 1986.
So how did a stock trader from Long Island end up running one of the most famous franchises in sports, and what does his ownership actually mean for the Mets going forward?
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Quick Facts About New York Mets Ownership
| Team | New York Mets |
| Owner | Steve Cohen and Alexandra Cohen |
| Ownership Since | October 30, 2020 |
| Purchase Price | Approximately $2.4 billion |
| Owner Net Worth (2026 est.) | Roughly $21 billion |
| League | Major League Baseball (National League) |
| Home Stadium | Citi Field, Queens |
| Franchise Value (2026 est.) | Approximately $3.5 billion |
Who Is Steve Cohen, Owner Of The New York Mets
Steven A. Cohen was born in 1956 and grew up on Long Island, not far from where the Mets now play. He started trading stocks while still in college and never really stopped.
In 1992 he founded S.A.C. Capital Advisors with about $20 million and turned it into one of the most closely watched hedge funds in the country. The firm later pleaded guilty to securities fraud charges in 2013, paying roughly $1.8 billion in penalties, though Cohen himself was never criminally charged.
He rebuilt under a new name, Point72 Asset Management, which now manages tens of billions of dollars for investors around the world.
How Much Did Steve Cohen Pay For The Mets
Cohen agreed to buy the Mets from Fred Wilpon and Saul Katz in September 2020, and Major League Baseball owners approved the sale that October.
The final price landed around $2.4 billion, which set a record for a North American sports franchise sale at the time. Cohen already owned a small stake in the club dating back to 2012, so the deal effectively let him roll that position into full control.
According to ESPN, the Wilpon family kept a small minority share and stayed on in limited advisory roles after the sale closed.
Mets Ownership Structure Under Steve Cohen
Controlling Owner And Point72 Founder
Owner And Charitable Foundation Lead
President Of Baseball Operations
Field Manager
New York Mets Ownership Timeline
The Doubleday publishing company purchases the franchise for about $21 million.
Fred Wilpon settles a legal dispute with his partner and takes full control of the club.
Steve Cohen purchases about an 8 percent share of the team as a minority investor.
Cohen closes a deal worth about $2.4 billion, becoming the controlling owner of the Mets.
The Mets sign outfielder Juan Soto to a 15 year, $765 million contract, the richest in sports history.
Forbes ranks the Mets among the six most valuable teams in baseball under Cohen.
Steve Cohens Net Worth And Point72 Asset Management
Forbes has estimated Cohens personal fortune at more than $21 billion, most of it tied to his stake in Point72 and decades of trading gains.
Point72 now manages tens of billions of dollars in assets and ranks among the largest multi strategy hedge funds anywhere, alongside firms like Citadel and Millennium.
That level of wealth is a big part of why Cohen can afford to run the Mets payroll the way he does, treating the roster almost like another aggressive investment.
How Much Is The New York Mets Franchise Worth Today
According to Forbes, the Mets were worth about $3.5 billion as of early 2026, ranking sixth among all Major League Baseball franchises.
That marks roughly a 45 percent jump in value since Cohen took over in 2020, even though the team has posted large operating losses in several recent seasons because of how much it spends on players.
Mets Payroll And Spending Under Steve Cohen
Since buying the team, Cohen has consistently pushed the Mets payroll past every other club in baseball, paying luxury tax penalties that other owners simply will not accept.
The signature move came in December 2024, when the Mets signed superstar outfielder Juan Soto to a 15 year, $765 million deal, the largest contract in professional sports history.
By 2025 the Mets payroll had climbed past $320 million, and the club again ranked among the most expensive rosters in the sport heading into the 2026 season.
Citi Field And The Mets Home Stadium
The Mets have played at Citi Field in Queens since it opened in 2009, replacing the old Shea Stadium that stood on the same grounds for over four decades.
Cohen has invested heavily in the surrounding area, including plans for entertainment and casino development near the stadium as part of a broader push to grow the franchise beyond game day revenue.
Is Steve Cohen A Good Owner: Is The New York Mets Ownership Really Worth It
Supporters point to the obvious positives. Cohen has funded the highest payroll in baseball, upgraded the teams analytics and player development staff, and hired respected leaders like David Stearns to run baseball operations.
Franchise value has climbed sharply too, up roughly 45 percent since 2020 according to Forbes, and fans generally welcomed a break from the more conservative Wilpon era.
Critics counter that money alone has not solved everything. The Mets have posted steep operating losses in multiple seasons, missed the playoffs in 2025 despite the league’s highest payroll, and Cohen’s SAC Capital history still draws scrutiny from some fans and reporters.
On balance most analysts see the ownership as a net positive for competitiveness and franchise value, even if it has not yet delivered the championship Cohen wants.
Are The New York Mets For Sale In 2026
No. There is no indication Cohen plans to sell the Mets. He has repeatedly said he intends to own the team for the long haul and eventually pass it down within his family.
Given his net worth and clear emotional investment in bringing a title to Queens, a sale in the near future looks extremely unlikely.
How The Mets Compare To Other MLB Ownership Groups
Cohen is often described as the richest owner in baseball, well ahead of most peers across the league in personal net worth.
For comparison, readers curious about ownership on the other coast can see how a similar hedge fund style approach played out for the club covered in our San Francisco Giants ownership guide, or check out the very different small market model behind the Minnesota Twins ownership guide.
Frequently Asked Questions About New York Mets Ownership
How Much Is Steve Cohen Worth
Forbes estimates Cohens net worth at more than $21 billion as of 2026, built mainly through decades of hedge fund trading at S.A.C. Capital and Point72.
Who Did Steve Cohen Buy The Mets From
Cohen bought the team from the Wilpon and Katz families in a deal worth about $2.4 billion that closed in October 2020.
Does Steve Cohen Still Run Point72
Yes. Cohen remains the founder and chief executive of Point72 Asset Management while also serving as controlling owner of the Mets.
Will Steve Cohen Sell The Mets
There is no sign of that happening. Cohen has said he wants to keep the franchise for the long term and eventually hand it down within his family.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.