The New York Mets made it apparent that they were going to take offers to sell ownership of the team. It was given a lot of buzz around the league when Alex Rodriguez and Jennifer Lopez joined in on the action, and talks became more public. In the end, billionaire Steve Cohen made the best offer and will be given the chance to negotiate with the Wilpon family members who have ownership in the Mets organization exclusively.
Steve Cohen has entered exclusive negotiations to buy the NY Mets and is expected to reach a deal to purchase the team within days, according to people familiar with the process. Other bidders, including the group led by Alex Rodriguez, are no longer in pursuit of the club.
— David Faber (@davidfaber) August 29, 2020
Regarding reports tonight that Steve Cohen has entered exclusive negotiations to buy the Mets:
Through a spokesman, Jeff Wilpon says the team “won’t be giving details or updates on the timeline or process until we are prepared to make a public announcement.”
— Anthony DiComo (@AnthonyDiComo) August 29, 2020
While an official statement will be made eventually by the Wilpon’s, it seems that Cohen and the Mets should have a deal done sooner than later. Cohen is a hedge fund billionaire who has some deep pockets and is most importantly a Mets fan. If he follows through and the two sides reach an agreement, he will need to be approved by 23 of 30 owners.
Some other finalists like Rodriguez and Lopez had some worries about approval given the PED issues with Rodriguez. The Blitzer group who owns the Philadelphia 76ers would have had an easier route to being approved, but billionaire Cohen ultimately was the choice.
The news from the Mets lately has not been all that great; the ownership group was openly criticizing their General Manager (GM) Brodie Van Wagenen for recent comments. Amid the ongoing protests over the shooting of Jacob Blake in Major League Baseball, Van Wagenen let some frustration out after he was displeased by the requests of Commissioner Rob Manfred in regards to how to go about the protesting.