STATEMENT BY STEVEN A. COHEN
The purpose of this statement is to make the public aware that in connection with our purchase and ownership of the New York Mets we intend to be vigorous supporters of the team’s home communities in Queens. We expect that support to include the following elements:
Charitable Giving.
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- Our foundation has given over $400 million to New York City charities over the last two decades. It will continue its involvement in philanthropic activities that benefit the city and all of its boroughs.
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- Steven Cohen will donate $17.5 million to programs developed by the City to make grants to local area small businesses to assist them in these uniquely troubling times. This tax deductible donation would be received and held by the New York City Economic Development Corporation.
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- We plan to dramatically increase the giving of the Mets Foundation in the coming years, with priority given to non-profits and causes in communities surrounding Citi Field.
Employees.
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- All Mets employees, including unionized groundskeepers, security guards and engineers, will receive reinstituted pre-pandemic salaries as of November 1, reversing the 5-30% salary cut implemented in March. The value of this commitment is over $7 million.
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- We will establish a new seasonal employee relief fund under which the approximately 1,000 employees who work at the stadium as employees of sub-contractors would be eligible to receive $500 per month from November 1 until opening day. The value of this commitment is approximately $2.5 million.
