Steve Cohen Expected To Reenter Mets Bidding

Move over, A-Rod/J.Lo? Steve Cohen, whose prior deal with the Mets collapsed, is evidently lurking for a second attempt. Thornton McEnery of the New York Post reports that the billionaire is preparing to participate in the first round of bidding.

Cohen had an agreement all but locked up with the existing Wilpon ownership group. But the unusual accord left substantial control rights with the Wilpons for a period of time and the sides ultimately came to disagree over how the transition would occur.

That original pact fell apart in early February, making for an inopportune timeline for the Wilpons. Cohen was (and is) a minority owners of the club; talks with him occurred without a broader bidding process. So when things collapsed, there wasn’t another party to turn to. And then came the coronavirus pandemic.

While there are multiple parties showing real interest in pursuing the franchise, there’s no indication to this point that a serious bidding war is underway. Cohen is said to have been “monitoring” the situation and still seems to be far and away the most qualified bidder. The Wilpons are reportedly asking for $2B — well less than what they would’ve originally received from Cohen — and don’t appear to have much hope of reaching that figure unless he jumps back into the picture.