February 24, 2021

Mets’ next buyer could evade issue that killed Steve Cohen deal (New York Post)



Want to buy the Mets without enduring a messy transition? That could happen in the wake of the latest sale fiasco with the Wilpons.

An industry source told The Post that, with Allen & Co. set to put the team back on the market Monday after the $2.6 billion deal with hedge-fund magnate Steve Cohen imploded last week, the Wilpons are open to the idea of handing over control of the club immediately upon sale. Bloomberg first reported this development.

Of course, the Wilpons have historically struggled to reach the finish line on these seismic agreements. The Mets and Cohen announced in December their agreement for a sale on the condition that “Fred Wilpon will remain in the role of the Control Person and CEO for five years and Jeff Wilpon will remain in his role of Chief Operating Officer for the 5 year period as well.”

That wording left room open for interpretation; a “role,” after all, can refer to a title and salary without actual power. While accounts of why and how this deal fell apart differed wildly, a significant portion of the disagreement clearly covered how much say such “roles” entitled the Wilpons to even as Cohen increased his investment in the…

Read “Mets’ next buyer could evade issue that killed Steve Cohen deal” at New York Post