June 22, 2021

Steve Cohen was planning big Mets party before deal went south (New York Post)



Hedge fund billionaire Steve Cohen was planning an Opening Day gala that would announce his majority ownership of the Mets, according to The Post’s Mike Puma.

But invitations were never sent out, and now may never be, after Cohen’s $2.6 billion deal to purchase the Mets went south, as The Post revealed on Tuesday.

Cohen, a 63-year-old Mets minority owner since 2012 who’s worth an estimated $13 billion, was slated to take on an 80 percent stake in the franchise, but talks with the Wilpons and Katz ownership group are now in jeopardy after the Wilpons changed the terms of the deal late in the process, as first reported by The Post.

The matter of control of SNY, the Mets’ cable network, also seems to have led to Cohen walking away for now.

Under terms of the agreement, which was first reported in December, owner Fred Wilpon would retain the title of CEO and his son Jeff would remain COO for five years.

But it also had previously been reported Cohen could start making an impact by beginning to invest in the team as soon as next offseason.

The Mets said they could not comment on the status of the deal due to “a mutual non-disclosure agreement”.



Read “Steve Cohen was planning big Mets party before deal went south” at New York Post