ARLINGTON, Texas (AP) — A person familiar with the decision tells The Associated Press that the proposed purchase of 95% of the New York Mets by an entity of billionaire hedge fund manager Steve Cohen has been approved by Major League Baseball’s ownership committee.

Baseball’s executive council will consider the deal next and is expected to forward it for a vote by all owners. Final approval is likely to take place in the next month.

The sale values the franchise at $2.4 billion to $2.5 billion.