Report: Steve Cohen’s deal to buy Mets falls apart after negotiations go sour
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.
— 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.