Cohen says he won't bid for NBA side

Steven Cohen Still

Billionaire Steven A. Cohen said he won’t bid for the Brooklyn Nets after his representatives met with bankers handling the team’s sale, according to a person with direct knowledge of the matter.

'Steve Cohen has no interest in the Nets', Jonathan Gasthalter, a spokesman for Point72 Asset Management, said in an e-mailed statement. 'He is focused on making Point72 the premier investment firm in the industry, while adhering to the highest ethical standards'.

Bloomberg News reports that representatives of Cohen met with the Evercore Partners bankers retained by Russian billionaire Mikhail Prokhorov to sell the National Basketball Association franchise he bought in 2010, said the person, who asked for anonymity because the meeting was private.

To access the complete Bloomberg News article hit the link below:

Steven Cohen Has ‘No Interest’ in NBA’s Nets After Meeting

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