June 22, 2021

Mets say they intend to find another buyer after sale to Steve Cohen falls through (ESPN)


The New York Mets said Thursday night in a statement they intend to find another buyer after talks ended over the proposed sale of a controlling share of the team from the families of Fred Wilpon and Saul Katz to hedge fund manager Steve Cohen.

It is unclear if a future transaction would involve a controlling share of the franchise.

On Dec. 4, the Mets said the contemplated deal between Sterling Equities and Cohen would have allowed Wilpon, 83, to remain controlling owner and chief executive officer for five years. His son Jeff would have remained chief operating officer during that time.

The Mets’ statement Thursday night called the proposed deal “a highly complicated one.”

“Despite the efforts of the parties over the past several months, it became apparent that the transaction as contemplated would have been too difficult to execute,” the team said.

MLB commissioner Rob Manfred said at the end of an owners meeting earlier Thursday that “the assertion that the transaction fell apart because of something the Wilpons did is completely and utterly unfair.”

Cohen bought an 8% limited partnership stake in 2012 for $40 million. The deal under discussion would have seen him acquire an 80%…

Read “Mets say they intend to find another buyer after sale to Steve Cohen falls through” at ESPN