Frank Franklin Ii/Associated Press
Steve Cohen, a minority investor with the Mets, is negotiating with the Wilpon family to increase his stake in the team, Cohen and the Mets announced Wednesday.
The announcement said that Fred Wilpon would remain the controlling owner of the Mets for five years and his son Jeff would stay on as chief operating officer during that time.
The announcement did not specify a plan beyond those five years or how much of the team Cohen was seeking to acquire.
In 2012, when the Wilpons were in financial difficulties after falling victim to Bernard L.