10:16pm: Charles Gasparino of FOX Business tweets that Cohen has told the Wilpons he’d be willing to pay $2 billion for the team and $2 billion for SNY. It’s not entirely clear that offers on SNY are even being entertained, though Cohen could certainly make an aggressive bid to buy a controlling stake in hope of forcing the Wilpons’ hand. If the numbers here are accurate, it’s hard to envision most other buyers being able to compete.
9:05pm: The initial bid from the Rodriguez/Lopez group is “around” $1.7 billion, Thornton McEnery of the New York Post tweets.
8:40pm: At least five interested groups formally submitted bids to buy the Mets on Thursday, Sportico’s Scott Soshnick reports. Among them are previously reported groups led by Alex Rodriguez and Jennifer Lopez; New Jersey Devils and Philadelphia 76ers owners David Blitzer and Josh Harris; and, perhaps of most intrigue to Mets fans, New York billionaire and current minority stakeholder Steve Cohen. All offers submitted today are preliminary, non-binding offers which can still be altered, Soshnick writes.
Cohen was not only in talks to buy the Mets in late 2019 and early 2020 but actually had an agreement in place to increase his stake in the team from eight percent to 80 percent over a five-year period. However, that deal fell apart in February — reportedly after managing partner Fred Wilpon and son Jeff (the Mets’ COO) sought to alter some terms at the eleventh hour. Neither party would comment directly on why the deal crumbled. Cohen said in a statement at the time:
I’m very disappointed we couldn’t work out a deal, but as an eight percent holder I’m looking forward to a higher bid for the team. I want to thank the fans for their support and the respect they showed me and I want to thank Commissioner Manfred and MLB for their support through the process. I gave it my best shot.
Cohen, a New York native with a net worth estimated at one point to be in excess of $13 billion, grew up as a Mets fan. That has given current fans hope that he could substantially up the team’s payroll in the event that he is ultimately victorious in his apparently renewed pursuit of a purchase. Whether that was actually the case earlier this year can’t be known, and it’s particularly up for debate whether it’d play out in such a manner following substantial revenue losses and a stark economic downturn. Cohen’s initial bid on the Mets was reported to be a whopping $2.6 billion. Updated bids are expected to be lower, however, due both to recent economic turmoil and the fact that the current sale is said not to include any stake in the SNY Network.
The other ownership groups, of course, shouldn’t be counted out. While few can match Cohen’s considerable net worth, the A-Rod/J-Lo group recently enlisted Florida Panthers owner Vinnie Viola and VitaminWater and BodyArmor co-founder Mike Repole to bolster its resources. Harris and Blitzer already own a pair of U.S. sports teams, and Harris has a minority stake in an English Premier League club, so this is familiar territory.
There’s also been reported interest in the Mets from U.K. billionaires David and Simon Reuben. The brothers carry a net worth even greater than that of Cohen — a reported $14 billion — and have interest in expanding their broad-reaching real estate and retail enterprise into New York in the near future. Bloomberg reported that they recently purchased retail space in Manhattan, and they’re said to have interest in developing the land around Flushing’s Citi Field. Whether they’re one of the five (or more) groups to have formally submitted a bid isn’t yet clear.
As many as seven groups were pre-approved by Major League Baseball recently. The Wilpons are aiming to complete a sale of the team by end of year.
colonthegoat40
Hopefully, Devil’s Dude or Steve…
Al Hirschen
Hope A-Rod/J-Low win the bidding.do a total rebrand and bring a new marketing plan to target the new young modern consumer
Al Hirschen
Thornton McEnery
@ThorntonMcEnery
·
12m
To be clear, sources describe the JRod bid as “substantial
The Natural
JRod needs to take a cue from DeNiro and hang on to their money.
jorge78
DeNiro!!??
jorge78
I just say the story never mind…..
rct
A-Rod is 44 and J-Lo is 50. What ‘modern young consumer’ are you referring to?
oldleftylong
In contrast to Mr. Wilson
BPrice's 77 F-Bombs
A-Rod has no chance against those billionaires.
stymeedone
Who are.you trying to kid! That’s not ARod money. That’s JLo money.
Iknowmorebaseball
Bombs, a-Rod is a free loader and an opportunitist. He has only pennies to contribute and why he is involved with all the other investees is because he recruited j-sag. Probably why he scammed his way into J-Sag so she can bring in the investers. a-Rod brand alone is worth chit.
Epstein is Altuve’s father
Don’t know why your bashing Alex Rodriguez. He’s a changed person and would be a great owner and great for the game.
If you actually watch a game he’s a great commentator. He has turned his image around. You tend to forget he doesn’t need to be the greatest owner in the world. He just needs to be better than the Wilpons. That’s not a high bar to clear. but yeah Go ahead and convince yourself that a guy who has made over 400 million in contract Salary alone is a busted joke and a freeloader lol got it! What a clown comment bro.
Btw ….. you sound like a jealous ex ….. is this your burner account Mark Anthony?
Iknowmorebaseball
Stupid he can’t buy no team. He made 400 mil but do you know what a team cost? Even if he didn’t spend his 400mil he can’t buy no team dumby!
wild bill tetley
So A-Rod is a changed person, and Altuve is what exactly? Moral logic is a bit off here, Epstein.
whynot 2
Wild bill… you do realize “Epstein is Altuve’s father”, is not a complimentary statement, right?
dugmet
@Iknow…. Im thinking you are trolling. Do you realize that Jeter is a “minority” owner? Not as in Ppl of Color but that his share of ownership is very small. Do you know that George Steinbrenner was originally a minority shareholder of the Yankees – as was Wilpon of the Mets.
The Natural
ARod may be doing an admirable job working on his image, but for some reason to me he seems terribly disingenuous. Smarmy.
wild bill tetley
Why not – that was my point.
Epstein is Altuve’s father
whynot ……. yeah he Just doesn’t get it lol.
Epstein is Altuve’s father
Hey I know more baseball…. jeter put up just 25 million to buy his 4 percent stake in the marlins. If you are trying to convince yourself then knock yourself out. The Mets will cost more than the Marlins obviously. He will probably own a Larger percent. Btw when speaking whatever language you practice. . . I believe it’s dummy not dumby lol. The facts is you don’t ever put up all the money to buy the team. You put up a percent. The banks and other investors cover the rest. No need to be toxic and call people names just because you lack the educational skills to comprehend economics 101.
wild bill tetley
I understand you completely. It’s called hypocrisy. You have no idea what A-Rod is like nor do you have proof he has changed.
Altuve could be a great dude for all you know.
whynot 2
Altuve is a proven cheater, I’m not sure that is a solid basis to assume he is a great dude
wild bill tetley
So was A-Rod. Forget PEDs, ask his ex-wife and ex-girlfriends.
Iknowmorebaseball
It is hypocrisy! And his reasoning is very weak. Honestly I think he thinks a rod is cute. It’s the only thing I can imagine why he’s in love with him
johnnydubz
Didn’t Jeter use 25 million while making a 5 million dollar salary as CEO guaranteed per for 5 years.
Epstein is Altuve’s father
Exactly….. iknowmorebAseball either doesn’t understand you don’t need the whole 2 billion to own part of a team. Or he’s a troll. A rod made over 400 just in salary. That doesn’t even include endorsements or other investments he’s made along the way. As posted by another person, JETER didn’t buy the Marlins by himself so I guess he’s a bum loser too. No need to get personal.
Just admit you hate the guy personally even though he’s made strides as a person. I guess he urinated in your Cheerios somewhere along the way.
Dodgethis
How can you defend arod? Do you forget his cheating? Do you forget his opting out of his contract during the playoffs to fleece another 1/4 billion contract? Guys a a-hole and always has been. Could care less about your pathetic reasoning for why you like him.
Iknowmorebaseball
Dodge he defends A-Rod because
he really loved watching him play in his tight uni’s. Moron boy hates cheater Altuve but loves cheater PED A-Rod. Boy what a pee wee brain
Ashtem
Interesting I believe Cohen would be the best
BPrice's 77 F-Bombs
i’d like to see A-Rod
Al Hirschen
Charles Gasparino
BREAKING: After weeks of negotiations, hedge fund billionaire Steve Cohen has told Wilpons he would pay $2 billion for @Mets & would pay $2 billion for @SNYtv. Other bids for the team so far are lower meaning he is (as reported by @FoxBusiness) the lead bid. Timing unclear
reflect
That’s absolutely insane. I doubt this is true.
PinstripedPride
He put out another tweet saying that the only other group who can financially compete with Cohen are the Reubens from Britain. Wow if Cohen really is back in this thing, then the Mets are likely his. JRod can’t outbid him
marcfrombrooklyn
The Reubens are investing in New York real estate and presumably want to develop the former auto junkyards of the Iron Triangle across 126th Street (formerly a risky place to try to find free parking on unpaved streets for games at old Shea), I mean, Seaver Way from Citi Field. As far as I can recall, the Wilpons, through Sterling Equities, were part of the development group selected by the city, though there were issues because part of the old plan included a mall on what is part of the Flushing Meadow Park. So, as with Cohen wanting to buy the Wilpons’ share of SNY, the Reubens probably will want to buy out Sterling on the Iron Triangle development.
whyhayzee
If the Reubens have the bread that would be a wry move on their part unless the fans have a beef and sour on the idea because they think they’re rushin’ to get it done.
troll
why not some rye?
whynot 2
Well done!
retire21
I love every part of this post.
SportsFan0000
That has got to be a false rumor. 2B+2B=4B Cohen is a sharp businessman. His offer for the Mets would be lower this time, not higher as a result of the recession, Covid 19, the Mets balance sheet that is bleeding 100’s of millions in losses since the Wilpons are in over their heads financially.
reflect
As long as it’s not those Philadelphia people and the team actually gets sold, I’m good with any other outcome.
Ashtem
Harris owns the Sixers only but he’s from New York like Blitzer as well
reflect
Doesn’t matter I don’t want gross Philadelphia juices mixed with my team
bradthebluefish
A-Rod’s interview with Gray Vee shows me that A-Rod gets the business and has many cool ideas on marketing. Hoping he wins the bid.
ukpadre
Personally I feel that he disgraced the game with his PED stuff, lies and deceit, and as soon as he retired he should have been ignored and forgotten about. But each to their own I guess.
Iknowmorebaseball
Amen ukpadre but you do realize we live in hypocrisy. I bet the people who support A-Rod and excuse his PED cheating don’t support Barry Bonds and Pete Rose. That’s because they are fake and lack integrity. They remind me of a incident that I witnessed watching a t-ball practice. The biggest boy on the team hit the ball and ran to first base and knocked the first base man on his butt. Just about everyone in this dance was laughing including this couple next to me. The t-baller’s big boy heard the response and thought it was cool to bulldoze over the opponents. So and his way to second base he knocked down the second baseman. More laughs then the big boy knocked down the third baseman on his butt. The couple next to me started yelling and insulting the big boy. Calling him a beast. Everyone heard this outroar from this couple well it turned out that was their kid that got knocked down at third base. This reminds me of a lot of people here. Hypocrisy and if it doesn’t effect me syndrome.
pasha2k
Great post
Epstein is Altuve’s father
IknowmorebAseball ….. not at all brother. I support bonds to get in the hall and am no hypocrite. Your really reaching. Also, I never excused a rods cheating. What both those players have in common though……. they were great before the juice. Not saying it didn’t help or that he didn’t cheat also not excusing it. But you act like he was some bum Before he took juice and he wasn’t. He was always one of the best in the game. Quit making assertions about ppls mindset in which you know nothing about. You sound like a fool.
shortytallz
Amazing to me that JRod can’t find more billionaire hedge fund mgrs to join their group
ukpadre
Well if it’s an injection (of funds) he needs then I’m sure he has some experience that may come in handy…
whynot 2
He prefers gummies, I don’t know if Deutsche Bank offers those in their financial menu. At least we know they have no problem working with dodgy clients
Rangers29
Anybody other than the Wilpons!
(Hey, while we’re at it, can we get the Rangers a new owner?)
jetup12
Who’s going to pony up a billion and then tell Arod and JLo to run the team? It’s Cohen’s for the taking. Two billion was a warning shot to everyone else. He obviously wants them. It’s over.
Moonlight Grahamcracker
I thought the same thing, they’re offering the least amount of money Out of the group but still want to run the team. I guess it worked with Jeter so they’re hoping for a similar setup.
Ashtem
Cohen is going to give the Wilpons 1.1 billion more for SNY than what they will earn in the next 10 years 900 million total 90 million per year of SNY remaining contract if they don’t say yes to Cohen than the Wilpons are insane
Brixton
900M + ownership equity is still worth more than 2B
Ashtem
Wilpons are getting more money now than what they will earn in the next 10 years
Epstein is Altuve’s father
While I agree. It’s about the money yes. It’s also about the Wilpons still having some co troll though and if he sells to Cohen he loses that.
SportsFan0000
No investor, individual or group, will let the Wilpons Retain Control,
full or partial, of the Mets of the Sports Network.
The whole point of buying a team is to control it and put your own stamp on it… The Wilpons are a disaster…It would be like partnering with the family that you are buying the team from.
What is your incentive to spend billions and let the former owners run the team?!!? Not seeing any,,
jewish and proud
Random question how much is Steve Cohen net worth?
Ejemp2006
It’s not how much they’re worth, it’s how much more the bank is willing to back them. None of these folks actually have that cash. With that in consideration, Cohen has both no value and unlimited net worth, depending on the accountant you ask.
vincent k. mcmahon
Over $13 billion.
Ashtem
13.6 billion to be exact
cleonswoboda
who really knows his net worth,but I do remember when the SEC fined him $2 billion and he just wrote them a check. and they took it!
lowtalker1
If the network doesn’t come with it then kick rocks
marcfrombrooklyn
Or demand that SNY pay full market value for Mets games and associated programming instead of the discounted amount the Mets get to hide revenue from the league, a scheme shared by every team that holds a stake in the regional cable system that carries it.
whynot 2
Explain how the Mets selling the rights to their games to SNY at a discounted rate, results in the team hiding revenue? Wouldn’t SNY buying the rights for less than market value, only benefit the channel and not the team? I understand for the most part the owners are the Wilpons so they may benefit, but I still can’t see how the Mets benefit. Please explain…
SportsFan0000
It has to do with tax issues, claiming losses for certain aspects of a business, getting huge “tax loss profits”” tax gimmicks..
That is one of the big reasons Owners do not want to open their books to the players and their Union. Any decent accountant or lawyer can do a forensic analysis and see that these teams are making bank and writing off allowable “losses” etc…
whynot 2
I understand the basic concept of those types of tax schemes and that has nothing to do with the previous guy’s argument. He claims was the team sells the rights to the games below market value to hide revenue, that is not how they hide revenue. Selling it at a low value just reduces revenue. They hide profits by claiming that operating expenses are higher than annual revenue. If the team and regional network are owned by some sort of holding company, then the loss from one can help reduce the tax bill of another
justacubsfan
Cohen is likely the best man for the job to rebuild and bring them a winner. Baseball is the one game that you can throw a truck full of money and win, just not necessarily every season. Hopefully someone can buy the Athletics, Pirates, Rays and other cheap owners. Maybe a team like the rays would be wise to try and “swap” teams as other teams have done things similar in the past if the rays owner complain it’s their market that is bad. This Steve guy reminds me of Balmer, owner of the clippers. They haven’t won yet, but they’re close and they’re starting to really improve in the LA community. Either way, I bet a guy who pays 4BB for the Mets doesn’t want to be 2nd fiddle to the Yankees. They would be the biggest losers in all of this.
ctyank7
Cohen seems to be the only bidder who wants to buy SNY. Without it, without controlling the club’s TV rights directly, the other groups will start with one hand tied behind their back.
toooldtocare
We don’t get much air time about the Met’s ownership here in Texas. Other than the Wilpons being caught up in the Madoff Ponzi scheme concerning the Bonilla salary debacle. What other dirty deeds has caused then to be so disliked? I’m just curious.
dugmet
Mets fans can invent a myriad of problems, but the bottom line has been the team did not win much – which makes for a cranky fanbase.
toooldtocare
Very understandable.
Ted
Part of the problem is the Mets play in the biggest market in America but are hamstrung by very “poor” owners, poor being a relative term as Wilpon is supposedly worth about $500MM. They are also notorious as “meddlers” in the team’s actions — see goodfundies.com/a-complete-history-of-media-report…
SportsFan0000
It has to do with the Wilpons “investing” and losing a ton with Bernie Madoff….that tells you all you need to know about the Wilpons’ business judgment. And, the Wilpons allegedly used team revenues and profits NOT ON THE TEAM AND PRODUCT ON THE FIELD. It appears that Mets team revenues were, allegedly , being used to replenish the monies in the Wilpons private investment accounts lost to Madoff. Meanwhile, the Wilpons were allegedly spending way below what a team in the largest media market in the country should be spending on a baseball team payroll. The Wilpons were not reinvesting the revenues into the team. They Wilpons were, allegedly, making up for their bad business decisions and past losses with team revenues etc….That is the story going around
pinballwizard1969
If some fool is willing to pay $4M for the Mets & SNY I can’t imagine what the Yankees would be worth if the Steinbrenner family decided to sell the Yankees and their 26% interest in YES Network. conservatively $7 to $10B (that’s Billion)
920kodiak
I wonder if Axe will appoint Wendy to be general manager of the team.
troll
arod’s just trying to keep up with jeter, still.
whynot 2
And you are jealous
Epstein is Altuve’s father
need to keep up with JETER lol? That is a troll statement from the biggest troll here. He was twice the player Derek was. Derek was a below average defensive player with little power. He never hit 40 and stole 40. Alex was one of four players in history to do that. Alex would have hit 700 home runs had they not have given him one of the longest suspensions in history. Everything a rod did, he did better than Derek. What game have you been watching dog? Lol clearly not baseball.
bobtillman
Bill Deblasio will buy the Mets and rename the stadium “Lou Gherig Memorial Park”.
flmetfan
Couldn’t Cohen buy the Rays also? (It’s tough being a baseball fan down here in SWFL) JK!
HubcapDiamondStarHalo
Honest question to those who favor the A-Rod J-Lo bid – are you at all concerned that the two could split up, resulting in another McCourt-like situation?
terry g
They would both be minority owners so it would have little effect.
I’m not in favor of them owning the team.
James Midway
Wow, I think there Cohen is the winner here. But we all lose because Rodriguez goes back to calling games on ESPN and he is just not good at it.
Ted
A-Rod is excellent as a commentator. What’s your beef with him in that role?
Epstein is Altuve’s father
Right? He’s one of the best commentators around. Players constantly defer to him for advice. He reached out to David price of the rival Red Sox during their World Series run and confided in him. He texted his rival and gave him sound advice and confidence. A disingenuous person just doesn’t do that. He’s changed so much as a person and ppl just like to stick with their group think and bash him. The problem with Alex was he was too competitive. His desire to win at all costs hurt him and his team sometimes. He would do whatever it took to win. I personally admire that. Yet Ppl bash him because it’s popular. Ask the current players what they think of him…. I would bet most love him.
astrosfansince1974
If ARod’s group wins we won’t have to have them on EAPN anymore
alproof
Drop dead, A-Roid