The Mets appear to be close to finding a new owner. Steve Cohen is now engaged in exclusive negotiations to buy the club, David Faber of CNBC reports. Alex Rodriguez, who has also been vying for the team, issued a statement to Ken Rosenthal of The Athletic conceding defeat.
“The consortium led by Alex Rodriguez and Jennifer Lopez has informed the Mets that they are no longer pursuing the acquisition of the team,” Rodriguez said. “The consortium, which included Vincent Viola, Mike Repole, and Marc Lore had submitted a fully funded offer at a record price for the team which was supported by binding debt commitments from JP Morgan and equity commitment letters from credit worthy partners. The consortium said that they are disappointed to not be part of the revitalization of New York City and provide an exhilarating experience for the fans and wish the Wilpon family and the entire Mets organization well.”
Cohen, the Rodriguez-Lopez team and the Josh Harris-David Blitzer duo were the finalists to land the Mets, but current owners Fred Wilpon and Jeff Wilpon selected Cohen as the favorite, according to Jon Heyman of MLB Network. It’s “believed” the Rodriguez group was willing to offer as much as $2.3 billion, per Faber, but they’ll lose out to Cohen.
While Cohen hasn’t reached the finish line yet, his approximate net worth of $15 billion, long-running pursuit of the franchise and his status as a minority owner of the Mets seem to make it unlikely he’ll fall short. Cohen’s previous attempt to buy the Mets fell apart over the winter, but the Wilpons’ urgency to sell the team has reportedly increased since then, owing in part to the financial losses they’ve taken as a result of the pandemic-shortened season with no fans in the stands. Now, any new owner would lose upward of $100MM this year and in 2021, Faber reports.
Cohen’s collapsed deal with the Mets included a five-year sale plan in which he’d assume 80 percent of the reins in 2025, but he’d take over as the team’s control person immediately in this instance, Faber writes. It’s unclear what a new agreement could look like in terms of cost or whether Cohen would receive any part of the coveted SNY Network in a sale. Cohen bid $2.6 billion before, but it’s now likely he’ll land the franchise for less, according to Faber.
Get it done and fire everyone. The hole front office, the manager,and the hole coaching staff.
Too bad they can’t do anything about whinny fans too
Have to agree. As a Mets fan born in Flushing, NY, 1962, I’ve learned the people with whom I least care to discuss the team are Mets fans.
AGREED….
IGNORANT ONES TOO!!!
@whynot is Fred your grandfather? He had Bloom in his grasp but went with the agent who instead of getting a top prospect for Cano gave up one because he is pals with Cano. Joe and Evan would have a good laugh if you called them on WFAN
1) Why are people obsessed with Bloom? so far he has not done anything to indicate he would be any better. 2) Cano was not the primary piece of that deal, so you might want to learn a few facts before commenting. 3) Who under 60 still listens to talk radio?
@whynot 1) see the Dodgers who have gotten Rays FO guy. 2) terrible teams don’t trade for closers 3) A lot of people do. Have you ever heard of CNN? Fox News? First Take? That’s all “talk radio”
1) explain what Bloom himself has done to warrant the admiration? 2) didn’t the Yankees get Chapman via trade? CNN and Fox News are news channels, First Take is a show… do you know the difference? Also, the news channels don’t take calls from the audience, so no they are not talk radio. You have some very basic things to learn
1.) gotcha go out and sign Dave Stewart and Tony LaRussa to run the team because they were amazing front office for the Diamondbacks
2) If im not mistaken one of the biggest strength of the Yankees for the last few years is their bullpen and if im not mistaken,majority if not all their saves from the last few years are from people they originally acquired via trade after they couldnt get the starters they needed.to improve the team.
3) during covid im willing to bet a lot less than you thing listen to the radio, radio is mainly for commuters and thats why they usually put their best teams on during rush hour times.
Fox News a news channel? Only an American would say that.
Fox goes through the motions at least. It’s as close as a subset of people come to an actual news source.
Whole
Correct
Or should I say “Lorre this”
You’ve got as many W’s as the Mets
Whole, idiot
Crossing my fingers A-Rod lands on some other pyramid scheme and goes bankrupt.
Why? That’s pretty messed up
Because he’s an a-hole who launched a scorched earth campaign after he was outed as a cheater? And he’s generally a conceited, selfish person?
A-Rod is an example of a person who cared more for himself than the team and went scorched earth after he was outed as a liar and a big time drug user/cheater. And yet, here he sits in a booth and makes a lot of money announcing games and being one of the “faces” of baseball (and what does that say about the network heads). He is an example of “cheaters win”. And J-lo is a perfect match for him. As a Vegas stagehand, we do not miss her antics and hissy fits here. She is as bad as Cher and Streisand. May J-lo and A-rod rot in hell together……
This guy is very trusting after the first debacle
COVID losses and upcoming debt payments apparently are forcing the Wilpons and the leverage they had seems to have been lost. My guess is Cohen will get his way and get the network too. All the ARod-JLo bid did was set the bar so to speak if it was as presented in this article. If Cohen again backs out, the Wilpons will be forced to renegotiate their maturing obligations as a deal of this type will most likely take time to close. They’ll probably have to do it anyway but it will be much easier if a deal is formally in place.
This is the best case scenario for the Metropolitan’s. Steve Cohen will spend, spend, spend for his beloved team and make them great again as well as he should.
That’s the last thing I want, It’s why I hate the Yankees and their fans. They think they buying success is the same as earning it. And, he’s a crook like George was. Great. Just great.
I agree with your sentiment but would you have preferred the Mets to say sign Daniel Murphy for 3 yrs 36 mil after his insane playoff run or save a little and acquire Neil walker on a shorter term deal or to save a few bucks and cut Justin Turner.
Yes i know 20/20 is hindsight but i was a huge fan of Murphy and what he did for the team and he was finally putting power to his average and even waited on the mets til the very end for an offer. Next 2 seasons he was in talks for mvp and almost winning it his first year with the nationals.
Every team pressed on Murphy and the nationals settled for him when they didn’t get their first 2 choices
If you don’t spend $ your never going to win. That’s why the Met’s continue to be a laughing stock in NY and all of baseball. So there is cold hard case of reality for you. Don’t let the door hit you on the way out.
It’s really silly how people claim the Mets don’t spend money. They don’t spend as much as the Yankees that’s true but they have consistently spent, they just haven’t done it very wisely based on results.
@whynot why did Wilpons say they weren’t reinvesting insurance money on David Wright,Cespedes? You must be his grandkid because you carry the water for him.
As owners they are free to spend money as they wish and like I said, they have spent money just not wisely.
How old are you? It’s interesting that you keep saying I must be he grandkid
3 times in the last decade the team was in the top 10 in payrolls So they do spend money if they have an agenda not really related to the on field product (ie 2 of those were during times they are trying to sell the team).
Also by the looks of what i see on the team salaries it does not back out insurance salaries .David Wrights injury payout salary was worth about 4-5 spots in his years. Because of the craziness with litigations i am not sure how much Cespedes was excluded so could not figure out how much his ranks would bring down. So for being a big market team and if you back out insurance. One of the biggest market teams payroll is at league average leaning to more below league average.
These are the opening payrolls for the mets unadjusted.
Year Rank Total Payroll
2020 5 80,296,949.00
2019 10 142,149,270.00
2018 12 154,600,000.00
2017 12 155,187,460.00
2016 19 99,626,453.00
2015 21 101,409,244.00
2014 22 89,051,758.00
2013 23 73,396,649.00
2012 14 93,353,983.00
2011 7 120,147,310.00
rays are doing good , athletics too. No money there… talent over $$$..heres a good line from a movie we all seen…. ” CHRIST I THOUGHT YOU SAY YOU HAVE NO HIGH PRICED TALENT”…..” FORGET ABOUT HIM,HE’S ONLY HIGH PRICED
@Tom1968- great to have talent. But if you don’t spend $ your never going to win championships. So that’s a waste of time, teams that don’t spend need to move to have a chance to compete to win. They owe that to their fans.
Those 2 teams gave no fans. I Can’t tell the difference between fans allowed and fans not allowed in stadiums
I know it’s unrelated, but it’s ridiculous that Sanchez is a New York Yankee
Does he still have to let the Wilpons’ useless kid run the team?
Hahahaha!!!!!
No he takes over control of the team right away.
Before Trade Deadline..
I am saddened that this means A-Rod will continue to be part of ESPN’s baseball broadcasting team.
ARod has rendered Sunday Night baseball unwatchable. You make an unfortunately accurate point.
Be honest… ESPN has never had a watchable crew.
Agree.
Thank God. Who knows if he will build a winning team. However, we no longer have to hear “well, the Mets just wouldn’t go there financially”….before free agency even started. Steve Cohen has the money. If he wants it, he’s in. He also is a life long Mets fan. Good news.
Maybe Cohen will spend, maybe not but the willpons chose not to spend because they were cheap not because they couldn’t afford to.
I’m thinking Cohen lands the team for $2.5B (originally offered a reported $2.6B) and buys SNY for an additional $2B.
Only 15 more years of Bonilla to go!
I have to second the comments about the Mets financial health. Just to not to have to hear about financial garbage would be a wonderful thing,
Awesome please don’t fall apart this time
Happy to hear Cohen appears to be the likely new owner. Maybe he gives A-Rod a front office role.
He’s gonna fire Brodie and give the GM job to him.
Will they actually let him run the team this time before some weird 5 year waiting period?
He’s 64. Not exactly a potential long time owner…
Cohen has a secret co-investor no one has mentioned because they can’t, until November.. I can’t identify the co-investor, but he’s insisting the Mets will begin wearing “Make Amazins’ Great Again” blue hats.
Jerry Seinfeld?
Dont get why you all are complaining that mets not competing, or not spending or all that crap…they won 86 games last year with a closer that cant close and familia who fell apart..they legitimately could/ would have won 95 games last yr if diaz was not here………still cant figure why the mariners won 91 games a cpl yrs back then he dismantled the team..why not add on instead?
The Mariners won 89 In 2018. Which was still 3rd in the division. If you look at that roster you can see why the did that. They weren’t going to compete with the roster they had and their better players weren’t the type to build around.
Sounds like hell is about to freeze over! This is great news!
It was hilarious watching the Mets walk it off at Yankee Stadium. Granted, Yankees fans might not share my sense of humor.
As a Yankee fan I enjoyed the game. Exciting from start to finish. That’s why I love baseball.
How will the eventual new owner lose upwards of $100M this year when most of the expenses for this year have already occurred?
“Now, any new owner would lose upward of $100MM this year and in 2021…” I think they mean losses will total $100MM for the two years, and not be that amount each year.
Trade Degrom for prospects. Package Alonso with Cano. Firesale and start over, remake the team for a championship run 2025.
Let me guess you want them all traded to the Yankees in exchange for Frazier and Andújar
Go Mets. He is buying team when people are leaving NYC. Good timing.
I dont think it hurts the mets as much as the yankees. Most NYC fan i found are yankees fans and more mets fan are in jersey and upstate new york. I could be 100% wrong on that but this is just from what i have experienced.
Also the area the Mets stadium is on Cohen had said previously he wants to invest in the local area and build it up.
The GM must go although smart to keep Smith especially with emerging DH. I hope Rojas stays.
I am ecstatic about the new owner, But I think I might be in the minority that thinks the jury is still out on Brodie. He seems to have drafted phenomenally so far, but definitely has not done well with trades.. I am sure Cohen will want to put his own hand picked staff around him, but I am not sure I would sleep on BVW yet.. I can’t believe I am saying that but Kelenic and Co were good picks despite not being here anymore. Plus got a lot of good arms Via the draft.
BVW didn’t draft Kelenic. He was 2018 so that was Alderson. With that said the 2019 draft looks pretty good, but you won’t really know how well BVW drafts for a few years.
Fair point, forgot that was a Sandy pick. but he did go out of his way to get some high upside potential studs outside the first round and pony up and negotiate for them. I respect that.
BVM has to go! He is terrible and has ruined this team for years to come.
My only hope is BVM, Rojas, and Diaz are gone or this team will not change no matter who owns it.
Every move he has made this year has been bad; Look at Wheeler in Philly.
Who did he sign?
Wacka Mole who sucks
Porchello who sucks
Betances who is done
Diaz nightmare on Mets street
Oh can anyone say Keon Broxton who BVM painted as the next Mookie Betts!
BVM has the Midas tough in trades; he should be selling mufflers
All I want is for him to be gone not matter who buys this team.