Cohen buying the Mets (Post # 134, Team to be put up for auction)

[Paulie6986]

https://nypost.com/2019/12/04/wilpon...o-steve-cohen/

Mets fans may finally be getting their wish.

Sterling Partners, the business of the Wilpon family, is in negotiations to sell 80 percent of the Mets to hedge-fund billionaire Steve Cohen, Bloomberg News reported on Wednesday. The transaction would value the franchise at $2.6 billion, according to Bloomberg.

The team confirmed that negotiations are ongoing and that Fred Wilpon will remain in the role of CEO for five years and Jeff Wilpon will remain as COO for the same amount of time. After those five years are up, Cohen will have a path for taking control of the franchise. The Wilpons would retain some stake in the franchise, according to Bloomberg.

Cohen, who is the CEO of Point72 Asset Management, has a net worth of $9.2 billion, according to the Bloomberg Billionaires Index.

The Mets have long been criticized for an unwillingness to spend the dollars necessary to keep the team competitive, despite being in the New York market.

Best news of the off season. Hope it turns into reality.

[FloridaMetFan]

Yes!

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[JoeGamer81]

Jeff and Fred still in charge for five years, which sucks, but they'd have money again. So that's a plus.

[INMETSITRUST]

Finally!!!!!!!!!!!

[Paulie6986]

Jeff and Fred still in charge for five years, which sucks, but they'd have money again. So that's a plus.

I'm fine with the fact that they'll have money and hopefully the ownership transaction will happen ASAP so we don't experience a lost year because we have no funds for elite free agents.

However, I don't want to get too excited until documents are signed.

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[mookiewilson]

I'm fine with the fact that they'll have money and hopefully the ownership transaction will happen ASAP so we don't experience a lost year because we have no funds for elite free agents.

However, I don't want to get too excited until documents are signed.

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Totally agree. Never ever thought they'd sell the majority stake but this does give us hope. Too bad it can't happen tomorrow but better than never selling the majority.

[Il Mostro]

Totally agree. Never ever thought they'd sell the majority stake but this does give us hope. Too bad it can't happen tomorrow but better than never selling the majority.

If the details of the report are accurate, they would not just be selling a majority share but more or less cashing out. In addition to the Coupons, there are currently numerous minority owners who have taken stakes over the years, so 80% to Cohen's group is beyond the usual raising of cash.

I just don't get what amounts to buying the team outright while allowing the two clowns to have any say in running the team, let alone be in charge for 5 years.

[Larry M]

If the details of the report are accurate, they would not just be selling a majority share but more or less cashing out. In addition to the Coupons, there are currently numerous minority owners who have taken stakes over the years, so 80% to Cohen's group is beyond the usual raising of cash.

I just don't get what amounts to buying the team outright while allowing the two clowns to have any say in running the team, let alone be in charge for 5 years.

Likely a negotiated part of the deal, as simple as that. Jeffy wants to play with his toy for 5 more years...maybe Fred buys him a choochoo or airplane in 5 years for him to play with

Too bad Brodie wasn’t representing the Wilpons, Cohen would own the team today in exchange for a 37 year old second basement and a wipeout slider

[Paulie6986]

Forbes writer Mike Ozanian believes Cohen will take over immediately after being approved as he “would own a tad over 50%”. Ozanian added, “Cohen isn’t going to pay more than $2 billion to sit on his hands for five years and potentially watch things get worse.”

This would be ideal.....

[JoeGamer81]

So, maybe I'm weird, but I don't care if he's a scumbag. People in his line of work tend to be. I actually have had this conversation recently with various people, but I actually believe it is not possible to become a billionaire (unless it's inherited, I suppose) morally. Along the way, there are necessarily immoral and unethical actions taken to acquire that much wealth. There just has to be.

As long as he isn't involved in human trafficking or puppy mills or something truly obscene like that, assuming he isn't some Epstein wannabe, then my only concern is that he invests healthily in the Mets. There is no reason the Mets can't spend with the Dodgers, Cubs, Red Sox, etc.. This guy has the means to spend, so let's hope he also has the willingness.

For him to be a worse owner than Fred and Jeff and Saul he would need to be the next Jeffrey Loria. I don't imagine that happening, considering the market.

[fanofclendennon]

So, maybe I'm weird, but I don't care if he's a scumbag. People in his line of work tend to be. I actually have had this conversation recently with various people, but I actually believe it is not possible to become a billionaire (unless it's inherited, I suppose) morally. Along the way, there are necessarily immoral and unethical actions taken to acquire that much wealth. There just has to be.

As long as he isn't involved in human trafficking or puppy mills or something truly obscene like that, assuming he isn't some Epstein wannabe, then my only concern is that he invests healthily in the Mets. There is no reason the Mets can't spend with the Dodgers, Cubs, Red Sox, etc.. This guy has the means to spend, so let's hope he also has the willingness.

For him to be a worse owner than Fred and Jeff and Saul he would need to be the next Jeffrey Loria. I don't imagine that happening, considering the market.

Give it time.

[JoeGamer81]

Give it time.

No other choice, right? That said, I am thrilled the WIlpons are seling. It may turn out that this guy is no better, but we know what the team's future was going to be if Jeff and Fred stayed on, so the possibility that things will be better should be celebrated.

[fanofclendennon]

No other choice, right? That said, I am thrilled the WIlpons are seling. It may turn out that this guy is no better, but we know what the team's future was going to be if Jeff and Fred stayed on, so the possibility that things will be better should be celebrated.

Gotta agree with ya there. The news right now is that the Wilpons are gone. Ding dong the Witch is Dead. That's the only news with which we should concern ourselves today. You're spot on, there is a possibility that things will be better and that indeed should be celebrated.

There will be plenty of time to lament whether or not the new guy indeed is a Scumbag Billionaire. But that's a concern for another day.

[Larry M]

Gotta agree with ya there. The news right now is that the Wilpons are gone. Ding dong the Witch is Dead. That's the only news with which we should concern ourselves today. You're spot on, there is a possibility that things will be better and that indeed should be celebrated.

There will be plenty of time to lament whether or not the new guy indeed is a Scumbag Billionaire. But that's a concern for another day.

Let us enjoy imagining what things could be. We’re Mets fans, it’s what we’re best at

[mookiewilson]

Gotta agree with ya there. The news right now is that the Wilpons are gone. Ding dong the Witch is Dead. That's the only news with which we should concern ourselves today. You're spot on, there is a possibility that things will be better and that indeed should be celebrated.

There will be plenty of time to lament whether or not the new guy indeed is a Scumbag Billionaire. But that's a concern for another day.

I am as light as a feather, I am as happy as an angel, I am as merry as a schoolboy. I am as giddy as a drunken man.