April 12, 2021

What Mets’ Steve Cohen sale means for Van Wagenen’s future (New York Post)


There will be clear winners and losers in the deal that could bring a new majority owner to the Mets in the near future.

Winners would include hedge-fund billionaire Steve Cohen, who is negotiating with the Sterling Partners for a majority stake in the Mets — as much as 80 percent — putting him in position to own the team he grew up rooting for on Long Island.

Also in line to win are Mets owners Fred Wilpon and Saul Katz as they stand to cash in on an investment with a valuation of $2.6 billion, according to Bloomberg. Wilpon and Katz paid roughly $135 million for previous co-owner Nelson Doubleday’s half of the team in 2002.

Another winner is the fans, hungry for an infusion of cash that would transform the Mets into the major-market level of the Yankees, Red Sox and Dodgers.

The biggest loser in the proposed deal might be general manager Brodie Van Wagenen.

Though Wilpon and his son Jeff Wilpon will maintain the titles CEO and COO, respectively, for five years once the deal is completed according to the Mets, industry insiders fully expect Cohen to at some point before then flex his muscle in baseball decisions (including payroll) and may not see Van Wagenen —…

Read “What Mets’ Steve Cohen sale means for Van Wagenen’s future” at New York Post