Hedge fund managers appear to have struck out in their bid to buy a big piece of the New York Mets.

The troubled baseball team's financially troubled owners, Fred Wilpon and Saul Katz, have picked a pair of former Glencore International commodities traders as their preferred bidders for a minority stake in the team, the New York Post reports. That means, barring any stumbling blocks, SAC Capital Advisors chief Steven Cohen and the other hedgies who have been interested in bidding will have to watch from their luxury suites at Citi Field, rather than the owners' suite.

The prospective new minority owners are not without alternative investment ties: Anthony Lanza, one of the two leaders of the group, founded private equity firm Carriage House Partners after leaving Glencore.

Glencore, whose UK-record $10 billion IPO launched last week, is one of the world’s premier energy traders and Bartoszek was once responsible for the company’s entire oil trading operation.

As a result of his time at Glencore, Bartoszek’s net worth is estimated to be in the range of $5 billion.  In addition, Bartoszek’s interest would seem to be a little more than financial as the Greenwich, CT resident is a member of a local softball team and an avowed, life-long Mets fan.

According to the Post, there remain some sticking points, including whether Lanza and former Glencore oil-trading chief Ray Bartoszek would get a piece of the Mets' television network, SportsNet New York. The two sides have been in advanced talks since last week, with Wilpon and Katz, facing a $1 billion lawsuit stemming from the Bernard Madoff Ponzi scheme, seeking $200 million for as much as 49% of the team, and a deal could come by the end of the month.

It should be noted that Cohen was reported to be close to a deal by the Post also.  [FINalternatives, NYPost, 5/24/11]