January 17, 2021

Mets’ shaky finances could impact final stages of sale (New York Post)

The Mets’ sale process is nearing a finish with much still left in the air.

Suitors are preparing to make final bids by a just set Aug. 31 deadline, as first reported Tuesday by Sportico.

Yet, the three main remaining bidders have not seen the detailed Mets financials and are expected to start reviewing the numbers in depth later this week, sources close to different bidding parties said.

With the Mets losing roughly $90 million in a normal season, that could impact the offers. The Mets are saying there is a path to breaking even in four years, another source close to the process said, adding he is not yet convinced. Once source familiar with the Mets financial position merely laughed.

So far, the groups led by the three known remaining suitors — hedge fund billionaire Steve Cohen, former Yankees star Alex Rodriguez, and Philadelphia 76ers owners Josh Harris and David Blitzer — have indicated they will bid a little more than $2 billion. Still that number could drop.

Meanwhile, Cohen, who is the favorite in the auction because of his $14 billion net worth, will need to gauge how much more he needs to bid than his rivals to be chosen, sources said.

Steve Cohen
Steve Cohen

Read “Mets’ shaky finances could impact final stages of sale” at New York Post