Steve Cohen has entered exclusive negotiations to buy the New York Mets and is expected to reach a deal to purchase the team within days, according to those involved with the negotiations and exclusivity battles. Other bidders, including the investment group led by Alex Rodriguez and his wife Jennifer Lopez, are no longer in pursuit of the club. Both parties are expected to reach a deal within the following week.
The man: Steven A. Cohen
The 64-year-old billionaire made his money in a career of hedge fund managing. Being the 30th richest man in the United States, he has deep pockets. He would be the wealthiest owner in all of baseball. Yes, you heard that right. Spending money on the future of his hometown Mets does not intimidate him.
With big contracts on the horizon, he would not withhold money from young Mets stars like Alonso and Conforto. The previous Mets owners, the Wilpons, would not have made these paydays an easy task for the franchise.
For the Mets organization and Mets fans alike, this is fantastic news. Ownership rumors and squabbles have plagued the franchise for years and a secure deal for the Queens-based franchise would provide stability. The championship aspirations Mets fans have for their young core and team are nothing without future-minded ownership. Steve Cohen is an investor looking for a strong and fast return.
He’s an active billionaire, which throughout the league’s history, proves for a solid owner. Considering the reality of the role, the biggest part of the job is filling out that payroll. Paying scouts, staff, and making the Mets an attractive team for any prospect or star. There’s no doubt that better commodities and a bigger wallet attract baseballs best, this is a job for Steve Cohen that he is capable and willing to complete. So tonight Mets fans have to be heading to bed with a smile, say goodbye to the Wilpons, and hello Steven A. Cohen.