After a deal with Steve Cohen to purchase the New York Mets was nixed last year due to issues of continued team control, the Wilpons looked for other suitors only to end up back with the hedge fund billionaire. According to Sportico, the deal values the Mets at $2.42 billion. Cohen will assume 95% ownership of the team, increasing his stake from 8%; the Wilpon family will retain control of the remaining 5%. The transaction will not include the Mets’ regional sports network SNY, a cash cow currently controlled by the Wilpons’ Sterling Equity with a 65% share.
The sale is the largest in MLB history, and given the franchise’s $391 million value at the time of the Wilpons’ purchase in 2002, it’s also the most profitable in terms of total dollar amount. Here are MLB franchise purchase price valuations since 1988 in chronological order:
And here’s profitability compared to the previous valuation:
In terms of annual profits based on the valuation of the franchise when it was bought and sold, the Mets’ deal is a little closer to the middle at around 9%. There’s an argument that being only a little bit above average isn’t great, though being above-average on a…