For the second time this year, Steve Cohen appears to be on the verge of purchasing the New York Mets.
Earlier this year, it appeared as though the New York Mets were about to be sold. The Wilpon family had agreed to a deal with minority owner Steve Cohen to sell their part of the franchise for $2.6 billion. However, as with virtually anything involving the Wilpon’s, they had to make the situation impossible, demanding that the transition take five years before he would assume 80% of the team’s control in 2025. Understandably, Cohen walked away from the table.
But the situation has changed. With losses mounting and the ongoing pandemic, the Wilpons are even more desperate to sell. With Cohen still willing to buy, he is in the driver’s seat.
Steve Cohen was selected today by the Mets as the one to continue talks. Finalists included A-Rod/J-Lo and Josh Harris/David Blitzer. Final bids weren’t due til Monday but Cohen bid aggressively. He is said worth up to $15B and word is he will be aggressive in attempts to win.
— Jon Heyman (@JonHeyman) August 29, 2020
Any possible deal would be subject to league approval. At least 23 owners would need to agree to the sale for Cohen to become the Mets’ owner, but that does not appear to be an issue. According to reports, he already has the votes needed to assume command.
This sale will likely spark a difference in how the team operates. Cohen, who is worth $15 billion, would immediately become the wealthiest owner in the league. The Mets’ failure to open the vaults to get that final piece or two needed to contend for a World Series.
It also leads to questions about the current personnel. Brodie Van Wagenen did not do himself any favors with the Wilpon’s in calling out the hypocrisy of Major League Baseball, and the on-field product has disappointed. Luis Rojas has just one year on the bench, but if Van Wagenen is replaced, his tenure may not last much longer.
Those are all questions that will be answered in the future. For now, the impending sale is a cause for optimism, a moment of hope that the franchise will no longer be an embarrassment. A new dawn is ready to break, and with it, the hope that the nightmare of Mets’ fans will be over.
Steve Cohen is in the driver’s seat when it comes to purchasing the New York Mets. At this point, it seems to just be a matter of time.