Time Warner Cable and Comcast are "nearing a plan to finance SNY’s purchase of four shares in the Mets," worth $80M, according to a source cited by Richard Sandomir of the N.Y. TIMES. If the deal is "completed, the Mets would appear to have buyers for the 10 shares they are selling." That means they will "have much-needed cash to pay off their substantial debts." But Sandomir notes it would be a "slightly quirky way of doing it." The deal would mean 16% of the Mets "would be owned by SNY," and the Mets’ parent company, Sterling Equities, "owns 70 percent of the network." One of the Mets' other investors is SAC Capital Advisors Founder Steven Cohen, who also is believed to have advanced past the opening round of bidding to purchase the Dodgers. Cohen "was one of the first people asked by [Mets Owners] the Wilpon family to buy a large chunk of the team." An L.A. Times report indicated that he "chose not to buy into the team last year, but now is almost certain to purchase a single share worth $20 million." A source said that Cohen was planning to purchase a share "as a favor to his friend Fred Wilpon." But Sandomir notes if Cohen "beats a crowded field of rivals bidding for the Dodgers, he would have to sell his Mets’ stake." The Wilpons, however, "would be able to use his money until then and have first dibs on buying back the share." MLB would then give the Mets "a reasonable amount of time to find a buyer to replace Cohen" (N.Y. TIMES, 2/3). On Long Island, Steven Marcus cites a source as saying that Cohen "would not necessarily view his investment in the Mets as a step toward a larger piece of ownership if the team moved in that direction" (NEWSDAY, 2/3).
