4:54pm: SNY is not in the deal, Joel Sherman of the New York Post tweets.
4:17pm: Billionaire Steve Cohen has agreed to purchase the Mets from Fred Wilpon and Jeff Wilpon, Jon Heyman of MLB Network reports. Cohen will need approval from 23 MLB owners to acquire the team, and if they sign off on his purchase in November, he’ll own 95 percent of the franchise, according to Tim Healey of Newsday. The deal values the Mets at roughly $2.475 billion, Healey adds.
“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen announced.
The Cohen purchase has been a long time coming for the Mets, who have been in on-again, off-again negotiations with him dating back to last winter. Cohen was seemingly in line to buy the team for $2.6 billion before, but the prior deal between him and the Mets collapsed in February. Cohen, who’s a minority owner of the Mets now, would have ended up with 80 percent of the franchise had that agreement gone through. He’ll now take over almost the entire organization, though it’s unclear whether he’ll get the coveted SNY Network in the sale.
After the Mets resumed their attempt to sell the team, Cohen vied against an Alex Rodriguez-Jennifer Lopez team and a Josh Harris-David Blitzer tandem, among others, in order to land the club. Cohen won out for exclusive negotiations on Aug. 28, though Rodriguez was reportedly none too pleased with the Wilpons for how they handled the process.
Of course, Mets fans also aren’t big fans of the Wilpon family, who have been part of their ownership since the 1980s. The Mets have recently endured serious struggles under the Wilpons, who are at the helm of a franchise that hasn’t won a World Series since 1986, has gone to the postseason four times in the 21st century and hasn’t made the playoffs since 2016.
At 21-26 this season, it doesn’t appear the Mets will snap their playoff drought. Considering the difficulties they’ve faced over the past couple seasons, it’s anyone’s guess which changes Cohen will make if he takes over the team before next season. General manager Brodie Van Wagenen could end up on the chopping block, though, as the beleaguered second-year exec has overseen back-t0-back disappointing teams.