NEW YORK -- Hedge fund manager Steve Cohen completed his $2.4 billion purchase of the New York Mets on Friday, ending the Wilpon family's control of the franchise after 34 mostly frustrating years.

Cohen became chief executive officer and hired former Mets general manager Sandy Alderson as team president in his first move. The sale ended Jeff Wilpon's tenure as chief operating officer.

"This is a significant milestone in the history of this storied franchise," Cohen said in a statement. "The 2021 season is right around the corner and we've got a lot of work to do, so I'm excited to get started.''