The mayor of New York City is trying to block the sale of the New York Mets to billionaire hedge fund owner Steve Cohen, according to a report.
The New York Post published an article on Wednesday about the subject and says that Mayor Bill de Blasio has been working behind the scenes to scuttle the deal. Cohen originally had a deal to buy the Mets earlier this year, but that fell through. After the team was put up for sale a second time, Cohen prevailed with the winning bid.
But according to the Post, de Blasio is trying to use this as an opportunity to extend his “stick it to billionaires” campaign policy. The mayor reportedly believes they have the ability to interfere because Citi Field technically is a city park. The city has to approve a lease of the land to the new owner.
De Blasio reportedly believes he can use a clause about moral turpitude to block the sale. The clause prevents anyone who has been convicted of a felony or owns a company that has been convicted of a felony from leasing Citi Field.
Cohen pleaded guilty to insider trading charges in 2013 and paid a fine, but he did not plead guilty to a felony. Lawyers apparently have already looked into this issue and believe that Cohen would prevail in a lawsuit.
Another factor at work is that the Post says New York State Senator Jessica Ramos is also involved in the issue. She previously endorsed Alex Rodriguez and Jennifer Lopez’s ownership bid.
MLB reportedly preferred Cohen to Rodriguez and Lopez’s ownership group.
