No amazin’ deal for Cohen, Lasry
March 02, 2011
New York Mets owner Fred Wilpon recently approached Steve Cohen of SAC Capital Advisors and Marc Lasry of Avenue Capital Group about buying a minority stake in the financially troubled team, according to Forbes. Neither took him up on it, apparently because they wouldn’t have been given enough control of the Mets. A Cohen spokesman declined to elaborate, and Lasry simply said: “Just didn’t make sense. That’s all.” The team’s owners, Wilpon and Saul Katz, had invested in the Bernard L. Madoff Ponzi scheme. They and numerous partners, relatives and entities related to their real estate investment firm are being sued by Madoff trustee Irving Picard, who alleges the owners ignored warning signs that the firm was a fraud and profited handsomely from the scheme. Wilpon and Katz have said they are victims of the fraud.