On Tuesday it was reported that billionaire hedge fund manager Steve Cohen’s bid to purchase the New York Mets was “on life support.” It would appear now that the plug has been pulled. Charles Gasparino of Fox Business is reporting that Cohen has walked away from the deal and that he’ll stay away unless the Wilpons agree to give him some say in running the team.
You’ll recall that the deal was originally reported to be one in which Cohen was to take control by 2025, phasing the Wilpons out of day-to-day operation of the team. In the past 48 hours, however, it was reported that the Wilpons had insisted on holding power longer than that. Given that it’s a multi-billion dollar investment, it makes more than a little sense that Cohen actually wanted to get something other than nominal ownership for his money out of this deal in the mid-term, so it makes sense that he’s displeased now.
It’s certainly been an eventful offseason for the Mets.
UPDATE: Rob Manfred is calling the deal dead:
Rob Manfred on Mets situation with the Wilsons and Cohen: “My belief is there’s not going to be a transaction.”
— Erik Boland (@eboland11) February 6, 2020