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, but it may not be dead just yet.
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.
However, it’s possible Cohen could return to the negotiating table if the Wilpons agree to give him what he wants. According to Jon Heyman of MLB Network, Cohen is still open to making a deal.
Back to the Mets. Hear Stevie Cohen walked away when he felt the deal changed late. Word is, he hopes Mets call back though. So wouldn’t call the deal totally dead yet.
— Jon Heyman (@JonHeyman) February 5, 2020
The Mets issued a statement on Tuesday saying they could not comment on the negotiations due to a confidentiality agreement.
It’s safe to assume Cohen has negotiated with the Wilpons for an extended period of time, so it would be difficult to imagine all of that just being thrown away. Perhaps Cohen walking away is just part of the billionaire’s strategy, but time will tell.
