The New York Mets were criticized for allowing their deal with Steve Cohen to fall apart earlier this year, but that may have resulted in them creating a bidding war between the hedge fund manager and other billionaires.
Mets owners Fred and Jeff Wilpon received their first round of bids for the franchise last week, and Charles Gasparino of FOX Business Network reports that the belief is that Cohen and Harris Blitzer Sports & Entertainment are the finalists.
Repole/Viola bidder willing to put up multiple hundreds of millions of dollars in CASH. But if this is Cohen v H&B, big question whether H&B will seek to outbid Cohen and his $2b valued offer for the team. H&B have said i the past they wouldnt but that doesnt mean they wont. ALSO
— Charles Gasparino (@CGasparino) July 19, 2020
In addition to the Mets, Cohen also wants to buy SNY, which is the network the team owns. The Mets have said for the time being that the network is not for sale, but that could change.
Gasparino also reported that Cohen is concerned MLB owners may block his attempt to buy the team because of a past association he had with insider trading, but executives around baseball do not believe that will be an issue.
which the Mets for now say isnt for sale, but most BB insiders say will be for sale. Again, most BB people say the sale will be done by the end of the season in October; Cohen and H&B are respecting the process and not going above the head of Allen & Co., at least not yet.
— Charles Gasparino (@CGasparino) July 19, 2020
Harris Blitzer Sports & Entertainment is run by billionaires David Blitzer and Josh Harris. The group also owns the Philadelphia 76ers and New Jersey Devils.
Despite the uncertainty surrounding sports leagues due to the coronavirus and their previous botched deal with Cohen, the Mets appear to be in a position of strength. Multiple billionaires are bidding for the team, with a casino mogul recently getting involved as well. Another group led by Alex Rodriguez and Jennifer Lopez also wants to buy the team, though there are questions about whether or not they can raise enough cash.
