Not long ago, the New York Mets were worth $2.6 billion as part of a sale. Now, things are a lot different.
According to Daniel Kaplan of The Athletic, the Mets are still pushing for a sale as soon as possible. Allen & Co., the adviser to the Wilpon family, has continued to try to find potential buyers for the franchise. They have been unsuccessful thus far.
A large amount of this is due to global events. The coronavirus pandemic has led to major losses in the stock market, significantly hurting the finances of potential buyers. Kaplan believes any sale of the Mets that would take place right now would be for significantly less than the $2.6 billion that Steve Cohen was set to buy them for before that deal fell through in early February.
The reality is, if the Wilpons want fair value on the franchise, they’re going to have to wait it out. The price they’ll get in a sagging economy with no baseball being played is not going to be ideal. They may have to hold on for a while before finding a buyer.
