Steve Cohen’s $2.6 billion bid to buy the Mets is on life support — if it’s alive at all. It was just two months ago that talks of the deal became public. Here’s a look at the timeline:
2012: Cohen, a billionaire hedge fund manager who grew up a Mets fan on Long Island, becomes a minority owner in the team.
Dec. 4, 2019: The Mets release a statement acknowledging the Sterling Partners are negotiating to sell a majority stake in the team to Cohen. Under the agreement, Cohen (with an estimated net worth of $13.6 billion, according to Forbes), would receive up to 80 percent of the team. The deal would allow Fred Wilpon to remain as CEO and Jeff Wilpon as COO for five years.
Dec. 11, 2019: At the winter meetings in San Diego, commissioner Rob Manfred says the proper protocols have been followed by the Sterling Partners for a potential sale to Cohen. And Manfred says he doesn’t anticipate a power struggle to ensue.
“We have had situations where, particularly in path-to-control cases like this, where someone who owns more is not actually the control person for a period of time,” Manfred said. “Steve Cohen and Fred Wilpon have known each other for a long time….