He accomplished what rival hedge fund manager David Einhorn couldn't do.  But can Stephen A. Cohen really be content owning a minor, minority stake in the New York Mets?

• A team that flounders under the leadership of majority owners who are spooked by their past relationship with Bernie Madoff.
• In a city that is ruled by the Knicks and Linsanity, ...
• Where its baseball fans are dormant until the Yankees come north for the season' ...
• While continuing to mourn the departure of its Brooklyn Dodgers - aka the L.A. Dodgers, ...
• Which is the team Stephen Cohen really covets.

Nevertheless, Mr. Cohen and 9 other stalwarts will agree to pay $20 million each for limited partnership and access to Mr. Met. Though some ask if he is after something more. NYMets and Owners - A Profile. The Mets were a high-profile casualty of the Great Madoff Ponzi of ’08: Co-owners Fred Wilpon and Saul Katz were investors, tooks out millions more from Madoff's fund than they invested, and now are being pursued by the trustee charged with recovering money so he can recompense the real victims of the Ponzi scheme. Meanwhile, the Mets owe $25 million to Major League Baseball and $40 million to Bank of America.  The team lost $70 million last year, then lost their top player, their lead-off batter, Jose Reyes to the Miami Marlins. In 2011, the owners appeared ready to seal a deal for $200 million with investor David Einhorn - but they snatched loss from the jaws of victory.  Which is why they now offer 10 non-controlling limited partnership shares in the franchise for $20 million apiece. Today, word emerged that the Mets have placed seven of those 10 shares, the most notable of which was snapped up by SAC Capital’s Steven Cohen. Meanwhile, Stephen “King Hedge” Cohen, has an amassed fortune in excess of $9 billion and is in the process of bidding for the L.A. Dodgers (presumably as a consolation effort after failing to buy the Mets). So what, pray tell, are the New York Mets selling for $20 million a share? To continue reading, go to:  [Business Week, 2/23/12].