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Monday, September 14, 2020

Done deal! Steve Cohen agrees to buy the Mets | Sale details, final price tag

It took a while, much longer than anyone anticipated. But billionaire hedge fund manager Steve Cohen has a deal in place to buy the New York Mets. Sportico broke the details on Monday, based on information from a person with direct knowledge of the sale.

The person was granted anonymity because the deal isn’t signed, though an announcement will be made later today. Allen & Co., which is overseeing the sale, declined to comment. Cohen will own 95% of the team, with the Katz and Wilpon families retaining the other 5%. While financial terms of the agreement haven’t been disclosed, two people with knowledge of the deal have said the sale values the team at about $2.42 billion. That would make it the most paid for an MLB franchise, topping the $2.15 billion paid for the Los Angeles Dodgers and surrounding real estate.

RoyalsRetro (AG#1F) Posted: September 14, 2020 at 05:36 PM | 27 comment(s) Login to Bookmark
  Tags: mets, steve cohen

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   1. Adam Starblind Posted: September 14, 2020 at 06:07 PM (#5976397)
I can't believe this is happening.
   2. billyshears Posted: September 14, 2020 at 06:45 PM (#5976402)
As a Mets, Jets, Knicks and Islanders fan, the Wilpons are easily my most disliked owner. They alone combine incompetence, insularity and unwillingness (inability) to spend on the franchise. Hopefully we now only have to endure another couple months of this.
   3. Adam Starblind Posted: September 14, 2020 at 08:16 PM (#5976413)
I wish there were a decent crop of free agents anywhere in sight! But still, hopefully this portends a payroll in the Boston/NYY/Dodgers range. That (say, an extra $75MM) could make a big difference if whoever replaces BVW is smart.
   4. Walt Davis Posted: September 14, 2020 at 09:19 PM (#5976423)
Although I'm not sure any of their hitters can be counted on to improve next season (other than Alonso) and most will probably regress, they do find themselves in the fortunate position that, other than Cano, they are all in the typical peak age range. Alonso, Davis, McNeil, Nimmo, Conforto, Smith are all 25-28. Assuming the NL DH is here to stay, they don't even need to shift anybody although a genuine CF (with an extra bat traded) would probably still be a better balance. Outside of deGrom though (a nice exception to have), the promising rotation of yore is long gone. Obviously you hope Noah bounces back but the staff as a whole needs substantial upgrading.

Looks like there should be plenty of payroll flexibility there. Conforto (next year) and Nimmo (2 years) are getting to FA but Alonso, McNeil, Smith, Davis are nowhere near it; Seattle essentially picked up half of Cano (although I'm not sure how that one worked in terms of CBT threshold) so deGrom is the only real long-term contract of note. Spend, spend, spend.
   5. The Duke Posted: September 14, 2020 at 10:45 PM (#5976432)
First order of business should be a taxpayer funded new stadium. CITIfield is what, 5 years old? Then a big sell off of talent followed by a slow low cost rebuild. That ought to help pay down the debt
   6. Adam Starblind Posted: September 14, 2020 at 11:00 PM (#5976434)
“ Spend, spend, spend“ on what though? They could resign Stroman. Trevor Bauer is a complete a-hole. Bad year for FA.
   7. Walt Davis Posted: September 14, 2020 at 11:27 PM (#5976441)
I would be happy to sign on with Mets for a multi-million dollar consultancy on how to spend, spend, spend.

Yeah, I have no idea. Maybe they need to eat some contracts to get some pitching in. Looks like Tanaka is FA. Stroman, Paxton, Quintana, Walker, Ray, Wood are worth kicking the tires and even the 1 or 2 who might be healthy probably won't cost you too much. (And if you're really going for it, take the Dodgers approach of 6-7 good pitchers hoping at least 5 are healthy each turn.) You could go the other way I suppose and see what Cleveland wants for the last year of Lindor. The top position players I noticed are Springer (not really what the Mets need but would open up trade possibilities) and LeMahieu (definitely not what they need but that must be one of the best 2-year contracts of all-time)
   8. Walt Davis Posted: September 14, 2020 at 11:29 PM (#5976442)
By the way, have y'all come around on Diaz yet? 39 K in 19 IP and a sub-2 ERA never hurt anybody.
   9. Howie Menckel Posted: September 15, 2020 at 12:31 AM (#5976447)
I touted Diaz before the season but in spite of the even higher epic K rate than last year - he remains terrified.

even when his slider is killing it - which is often this season - with 2 strikes on a batter in the 9th, a deeply-embedded part of his brain demands a fat pitch for the result of an inevitable soul-crushing HR.

I thought the lack of humans in the stands tangibly disapproving of his tendencies would solve it.

but no.

I cannot imagine him succeeding at CitiField in 2021 with those demanding fans back (with any luck).

athletes across countless sports often talk about how NYC is the best fanbase on Earth when you win. but if you can't stand the heat, stay out of the 7 boroughs (including Bergen and Essex, NJ).
   10. snapper (history's 42nd greatest monster) Posted: September 15, 2020 at 12:59 PM (#5976498)
I cannot imagine him succeeding at CitiField in 2021 with those demanding fans back (with any luck).

athletes across countless sports often talk about how NYC is the best fanbase on Earth when you win. but if you can't stand the heat, stay out of the 7 boroughs (including Bergen and Essex,


I have to believe this is mostly NYers wishful thinking searching for confirmation in anecdotes.

I find it really hard to believe that there are large numbers of professional athletes who can handle the intense pressure of making the bigs, and competing at the highest level, but then crunble because some fans and reporters are mean to them.
   11. Howie Menckel Posted: September 15, 2020 at 01:21 PM (#5976506)
if you have another explanation for Diaz's great success in Seattle in 2018 and his stellar peripherals in 2019 while setting an all-time record by allowing 15 9th-inning HR, as well as his epic fails this season while still maintaining those peripherals, I'm all ears.

and if you ever watch him pitch, he sure looks like he's terrified of .... something. maybe the CitiField clubhouse has rats?

also, Sonny Gray says hi.
   12. Traderdave Posted: September 15, 2020 at 02:17 PM (#5976521)
I find it really hard to believe that there are large numbers of professional athletes who can handle the intense pressure of making the bigs, and competing at the highest level, but then crunble because some fans and reporters are mean to them.


FWIW (not very much) I have heard more than one big leaguer say the crowd means almost nothing to them except when they get booed at home.
   13. Karl from NY Posted: September 15, 2020 at 03:32 PM (#5976544)
The Mets as a franchise have never been able to spend spend spend on players. Any free agent who wants to come to New York gets bought for more dollars by the Yankees. The Mets only come into play when the Yankees are full at a position. They get leftovers and reclamation projects. Curtis Granderson is about the highest tier of FA that the Mets ever get. Carlos Beltran is the only exception I can remember and that's because the Yankees were full up in the outfield at the time with Bernie Williams hanging around.

The way the Mets can effectively spend is to trade for players nearing FA with the condition of extending them before they hit the open market, the Johan Santana model.
   14. Nasty Nate Posted: September 15, 2020 at 03:46 PM (#5976546)
if you have another explanation for Diaz's great success in Seattle in 2018 and his stellar peripherals in 2019 while setting an all-time record by allowing 15 9th-inning HR, as well as his epic fails this season while still maintaining those peripherals, I'm all ears.

and if you ever watch him pitch, he sure looks like he's terrified of .... something.
He might be terrified of giving up HRs.

And his peripherals were not stellar in 2019.
   15. The Yankee Clapper Posted: September 15, 2020 at 03:58 PM (#5976551)
The Mets as a franchise have never been able to spend spend spend on players. Any free agent who wants to come to New York gets bought for more dollars by the Yankees.
Mets ownership may have mismanaged the team so it has less to spend than it should, but that’s on them, as is their preference to put money in the owner’s pocket rather than invest in the team. Their pattern of cheapness goes all the way back to Tom Seaver. The Yankees have a budget, and with current commitments & arbitration/extension raises for players like Judge & Torres, they don’t look to be very active in the free agent market in coming years. The Mets should have a free hand to do whatever they wish, without blaming a team that doesn’t even play in the same league.
   16. JJ1986 Posted: September 15, 2020 at 04:09 PM (#5976553)
Diaz seemed particularly affected by the juiced ball. He was missing the plate so much because he didn't want to give up bombs.
   17. Bug Selig Posted: September 15, 2020 at 04:56 PM (#5976565)
if you have another explanation for Diaz's great success in Seattle in 2018 and his stellar peripherals in 2019 while setting an all-time record by allowing 15 9th-inning HR, as well as his epic fails this season while still maintaining those peripherals, I'm all ears.
Prior to last season, there had been 59 3-WAR seasons by relievers. 6 of them repeated the feat. Scary New Yorkers are not responsible for RP volatility.
   18. The Yankee Clapper Posted: September 15, 2020 at 05:32 PM (#5976578)
and if you ever watch him pitch, he sure looks like he's terrified of .... something.
Perhaps he read the Self-Immolation thread, and can’t adjust to the pressure of being potentially responsible for such awful conflagrations?
   19. Adam Starblind Posted: September 15, 2020 at 08:53 PM (#5976643)
The Mets as a franchise have never been able to spend spend spend on players. Any free agent who wants to come to New York gets bought for more dollars by the Yankees.


This is silly. The Mets have virtually never been in on top tier free agents. I can think of exactly zero instances of them being outbid by the Yankees.
   20. Adam Starblind Posted: September 16, 2020 at 09:12 AM (#5976863)
Re: [13] and [19], it was unnecessary for me to call Karl's point "silly." It should have sufficed to say I think think Karl's point is not accurate.
   21. Karl from NY Posted: September 16, 2020 at 02:56 PM (#5976997)
It doesn't happen because they don't try. You think the Mets wouldn't have wanted Teixeira, Sabathia, A-rod in 2007, or any of the other big-ticket buys across town? It's impossible when there's another team in the same city bidding half again higher than you can. Free agents either look at the Yankees or not at New York at all, only leftovers that the Yankees didn't want ever sign with the Mets.
   22. The Yankee Clapper Posted: September 16, 2020 at 03:50 PM (#5977019)
Free agents either look at the Yankees or not at New York at all, only leftovers that the Yankees didn't want ever sign with the Mets.
That’s certainly questionable, at best, but even if one accepts the premise, the Yankees don’t play in the same League as the Mets. Except for Inter-League play, any free agents signing with the Yankees are not playing the Mets and are not signing with NL teams competing against the Mets. The Mets inability to beat the Braves, among others, has nothing to do with the Yankees.
   23. Ziggy: social distancing since 1980 Posted: September 16, 2020 at 04:02 PM (#5977022)
Hey now Mets fans, you've had marquee players like Duke Snider, Warren Spahn, and Richie Ashburn. Granted those weren't free agent signings. But even running up against the Yankees the Mets have done okay. They signed Yogi Berra out from under the Yankees' noses!

<I kid, I kid. Love you guys.>
   24. Adam Starblind Posted: September 16, 2020 at 04:06 PM (#5977024)
It doesn't happen because they don't try. You think the Mets wouldn't have wanted Teixeira, Sabathia, A-rod in 2007, or any of the other big-ticket buys across town? It's impossible when there's another team in the same city bidding half again higher than you can. Free agents either look at the Yankees or not at New York at all, only leftovers that the Yankees didn't want ever sign with the Mets.


It's a theory, but there's no evidence to support it.

And were Teixeira and A-Rod supposed to replace Delgado and David Wright?
   25. Nasty Nate Posted: September 16, 2020 at 05:03 PM (#5977049)
The relevant Mets and A-Rod free agency was his first, when the Mets were outbid by Texas.
   26. Adam Starblind Posted: September 16, 2020 at 05:24 PM (#5977055)
That's a good point. If the Mets wanted A-Rod in 2007, they could have made him a reasonable offer and signed him during the weeks when A-Rod and the Yankees were on the outs. It took outside intervention to get the Yankees back into the picture.
   27. Bourbon Samurai stays in the fight Posted: September 17, 2020 at 10:54 AM (#5977163)
have to believe this is mostly NYers wishful thinking searching for confirmation in anecdotes.

I find it really hard to believe that there are large numbers of professional athletes who can handle the intense pressure of making the bigs, and competing at the highest level, but then crunble because some fans and reporters are mean to them.


I imagine this would have been more true before 24/7 cable coverage and social media. The New York media market in, say, the 80's, meant a massively different level of focus on you than a lot of other places. Now everybody is bombarded and dissected 100 percent of the time.

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