Billionaire Steve Cohen has agreed to purchase the New York Mets.

Majority owners the Wilpon family and club president Saul Katz have agreed to sell the team for around $2.745 billion.

Cohen now owns a 95% majority stake in the ball club.

The pending arrangement needs to be approved by the MLB before becoming official, but there shouldn’t be a big hold up on the arrangement.

According to Forbes, hedge funder Cohen has an estimated net worth of $14 billion.

The deal will be Cohen’s first move into professional sports, so we’ll see how he begins to restart his franchise.

Big front office moves could be made sooner than later.