The deal that was supposed to result in Steve Cohen becoming the majority owner of the New York Mets hit a major snag this week, and MLB commissioner Rob Manfred does not believe there is any hope of it being salvaged.
Manfred told Newsday’s Erik Boland on Thursday that he does not see the sale of the Mets going through.
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
Cohen, who reportedly already owned an 8 percent stake in the Mets, was supposed to purchase an 80 percent stake in the team at a valuation of $2.6 billion. However, Barstool Radio host Kevin Clancy (KFC) said on the air Tuesday that he heard rumors Cohen wanted to take over the team now rather than in five years. KFC also said he heard there was a dispute over the team’s TV network, SNY. Thoms McEnery of the New York Post later reported that Cohen decided to walk away from the deal because he was unhappy the Wilpons changed the terms very late in the negotiations.
There was a report that Cohen still wanted to make a deal and was hopeful the Wilpons would call him back to the negotiating table, but apparently that is unlikely to happen. The Mets issued a statement on Tuesday saying they could not comment on the negotiations due to a confidentiality agreement.
Many Mets fans are anxious for the Wilpons to sell the team, which is not a surprise given all the struggles the franchise has had in recent years. Unless something changes, it appears they are going to remain the majority owners in 2020 and potentially beyond.
