Steve Cohen’s Deal to Buy the Mets Unlikely, M.L.B. Commissioner Says

The potential sale of the New York Mets to hedge fund billionaire Steve Cohen is all but dead, Major League Baseball commissioner Rob Manfred said Thursday.

“My belief is there’s not going to be a transaction,” Manfred told reporters at the owners meeting in Orlando, Fla.

Cohen had been negotiating with the Wilpon family, which controls the Mets, since the middle of last year. In December they announced the framework of an agreement.

But the two sides reached an impasse over an unusual provision that would let Fred Wilpon, the Mets managing owner, and his son, Jeff, the team’s chief operating officer, remain in their roles for five years after the completion of the sale.

This is a developing story and will be updated.