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Saturday, April 4, 2020

Report: Mets owners seeking new buyer, would give up control immediately

New York Mets

The New York Mets are still for sale, and any new deal could result in an even quicker exit by the current owners.

After a deal with billionaire hedge fund manager Steve Cohen fell through, the Wilpon family has put the Mets back on the market, according to Scott Soshnick of Bloomberg. As part of any new deal, the family would be willing to cede control immediately instead of in five years as they sought to do in the Cohen deal.

However, as a result, the price tag will likely be more than the $2.6 billion that Cohen was set to pay, as would be logical for a sale that comes with immediate control.

The Cohen deal fell apart quickly over disagreements over control, and perhaps that has taught the Wilpons a lesson. The franchise will be worth a ton based in New York, and there is upside for any potential buyer. This also means there’s still hope for the many Mets fans who are dissatisfied with the Wilpon family’s ownership. Something could still change quickly.

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