Steve Cohen’s purchase of the New York Mets is falling apart after negotiations went sour at the last minute, according to a report.
The New York Post reported on Tuesday that Cohen is ending negotiations with the Mets for his 80 percent stake in the team at a valuation of $2.6 billion.
Here is what Thomas McEnery said in his report:
“According to those sources, Cohen is deeply unhappy with the Wilpons changing the terms of the deal at a very late stage and has decided to walk away.”
The Mets issued a statement in response to the report, saying they cannot speak about it due to a confidentiality agreement.
Statement from #Mets ownership on reports that Steve Cohen is backing out of deal to purchase majority stake in club: “The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment.”
— Ken Rosenthal (@Ken_Rosenthal) February 4, 2020
Rumblings about the deal falling apart were first mentioned by Barstool Radio host Kevin Clancy (KFC). KFC, who is a big Mets fan, said on the air that Cohen wanted to take over the team now rather than in five years, and that there was a dispute over the team’s TV network — SNY.
Oh No! Rumor has it Steve Cohen is out on buying The Mets. Pray for @KFCBarstool pic.twitter.com/NAUZcH1R4M
— Barstool Radio (@BarstoolRadio) February 4, 2020
Cohen reportedly already owned an 8 percent stake in the Mets, which was set to grow to 80 percent in five years as part of his deal to become majority owner of the team.
