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Mets Ownership - Looking for a Billionaire Buyer

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  • #16
    Just when we thought there was light at the end of the tunnel

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    • #17
      Unfortunately, it was a train coming in the other direction.

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      • #18
        https://twitter.com/JustinCToscano/status/

        Drew's Sig

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        • #19
          Steve Cohen Deal 'could still go through'

          Cohen's bid to purchase a majority stake first came to light on Dec. 4

          By Danny Abriano
          6 Feb 2020, 8:43 AM ET


          Reports came out on Tuesday afternoon that billionaire Steve Cohen was close to abandoning his bid to purchase a majority stake in the Mets.

          At the time, Thornton McEnery of the New York Post reported that Cohen was "deeply unhappy" with the terms of the deal changing "at a very late stage and has decided to walk away."

          Late Wednesday, Kevin Draper, David Waldstein, and James Wagner of the New York Times shed light on the snag the potential deal had hit.

          Citing three people who spoke on the condition of anonymity, the Times reported that the deal was moving toward a conclusion when the snag happened. According to two of those people, the issue revolved around the timing of when Cohen would assume control of the team and the schedule of payments he was to make.

          While the deal has hit a snag, the sources who spoke with the Times "cautioned that the deal could still go through."

          The Times added:

          "While the dispute is very real, they said, both sides could also be jockeying to gain leverage in a final deal."

          When reports first came out on Tuesday that the deal could be in jeopardy, the Mets issued a statement while citing a mutual non-disclosure agreement.

          "The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment," the team said.

          Cohen's bid to purchase a majority stake in the Mets first came to light on Dec. 4, with Sterling Partners and Cohen Private Ventures releasing the following statement at the time:

          "The Sterling Partners and Steve Cohen are negotiating an agreement in which Steve Cohen would increase his investment in the New York Mets, the statement reads. As part of that agreement, 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.Steve Cohen will continue as CEO and President of Point72 Asset Management and his stake in the Mets will continue to be managed by his family office, Cohen Private Ventures."

          Cohen bought a four percent stake in the Mets in 2012 for $20 million. He was also part of a bid to purchase the Dodgers around the same time.

          The 63-year-old Cohen -- a native of Great Neck, NY -- is an investor and hedge fund manager who has founded S.A.C. Capital Advisors and Point72 Asset Management.

          Fred Wilpon has been the majority owner of the Mets since 2002, when he bought out Nelson Doubleday.

          Doubleday and Company and Wilpon purchased the Mets from the Payson family in January of 1980.


          Drew's Sig

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          • #20
            Jeff Wilpon’s power play derailed
            Mets sale to Steve Cohen


            By Thornton McEnery

            February 6, 2020 | 1:25pm | Updated

            In the end, it all came down to Jeff.


            Multiple sources have confirmed to The Post that the biggest unsolvable issue in the now-all-but-dead sale of the New York Mets to billionaire hedge fund manager Steve Cohen was the role that team heir and COO Jeff Wilpon would have in the transition of power and beyond.

            At the late stages of his agreement to buy 80 percent of the franchise for $2.6 billion, Cohen was informed by Fred and Jeff Wilpon that their plan was for Jeff to maintain total operational control of the Mets throughout the pre-agreed-to five-year transition period and then maintain a senior role within the organization even after Cohen took over.

            While it is unclear if the Wilpons sought to keep the COO title for Jeff after the transition, sources uniformly agree that Jeff wanted to be part of the decision-making under Cohen’s ownership.

            Asked at the Major League Baseball owners’ meetings Thursday in Orlando, Fla., if he expected the sale to come together somehow, commissioner Rob Manfred said, “All I can tell you is right now, my belief is there is not going to be a transaction — and my soothsaying is not great.

            “I don’t know what’s going to happen,” Manfred added, to laughter. “As of right now, it’s my belief that that transaction is not going forward.”

            Manfred also said that “based on conversations with the buyer and the seller on an ongoing basis [that] the assertion that the transaction fell apart because of something the Wilpons did is completely and utterly unfair.”
            One source familiar with the talks said Cohen was trying to change the financial terms of the deal.

            However, one former Mets employee told The Post that it was almost inconceivable to think that a deal would have been struck without a role for Jeff.

            “This guy has never done anything in his life other than play a week of minor league baseball and work for his dad,” said the former Mets staffer. “The Mets are his life. He can’t do anything else.”

            By all accounts, Jeff’s current leadership of the organization is extremely hands-on. Every facet of the team, from baseball operations to marketing, is known to be under his purview. “He is the owner and the de facto general manager,” said one source close to the team. “He does not want to give that up, even if everyone around him does.”


            Sources familiar with Wilpons’ thinking tell The Post that they are upset and angry with the death of this deal coming out in the press and that they are as ready to kill this deal as Cohen is. With the fan base getting increasingly angry on local sports radio and social media, begging the Wilpons to sell the team to a hedge-funder Mets fan worth $13 billion, Fred and Jeff are livid at the situation and want it to end.

            Making matters more frustrating, both sides remain muzzled by what appears to be an ironclad non-disclosure agreement.

            But one of those sources also mused how this extremely public pre-divorce is playing out at the owners’ meetings.

            “You just wonder if the other owners tell them to just get this done,” the source said. “It’s so much money.”

            Fred Wilpon declined comment to The Post at the meetings. Jeff Wilpon did not respond to a request for comment from The Post.

            — Additional reporting by Ken Davidoff in Orlando, Fla.
            Per my comment in the shoutbox

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            • #21
              Mets Ownership Still Plans To Sell Team


              By Mark Polishuk
              February 6, 2020 at 9:24pm CDT

              Now that the proposed deal that would have seen Steve Cohen become the Mets’ new majority owner has fallen through, the club is still going to be put on the market. In a statement released to media, the Sterling Partners ownership group said “The transaction between Sterling and Steve Cohen was a highly complicated one. Despite the efforts of the parties over the past several months, it became apparent that the transaction as contemplated would have been too difficult to execute. Sterling intends now to pursue a new transaction and has engaged Allen & Company to manage that process.


              There may still be hope

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              • #22
                Steve Cohen's bid to buy majority stake in Mets falls through,
                but team will 'pursue a new transaction'


                "The transaction as contemplated would have been too difficult to execute"

                6 Feb 2020, 10:26 PM ET

                Steve Cohen's bid to buy a majority stake in the Mets has fallen through.

                On Thursday night, Cohen released a statement, saying:

                "I'm very disappointed we couldn't work out a deal, but as an 8% 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."

                Soon after, Mets ownership released a statement of their own:

                "The transaction between Sterling and Steve Cohen was a highly complicated one. Despite the efforts of the parties over the past several months, it became apparent that the transaction as contemplated would have been too difficult to execute.

                Sterling intends now to pursue a new transaction and has engaged Allen & Company to manage that process."

                On Thursday evening, MLB Network's Jon Heyman reported that "the deal is dead," while also saying that there is a belief Cohen will now "have trouble ever buying any team."

                MLB - non-Mets - sources with knowledge of the Cohen negotiation said it wasn't the five-year transition of power that was at issue, SNY's Andy Martino reported Thursday, saying that part of the transaction was a done deal in writing months ago.

                MLB Commissioner Rob Manfred addressed Cohen's bid as well on Thursday.

                "There are kind of two things that are out there," Manfred said, according to Anthony DiComo of MLB.com. "The first is that there is not going to be a transaction. My belief is that's accurate. The second is exactly what happened with respect to the transaction, and I can tell you -- and it's based on conversations with the buyer and the seller on an ongoing basis -- the assertion that the transaction fell apart because of something that the Wilpons did is completely and utterly unfair."

                A report late Wednesday in the New York Times shed light on the snag the potential deal had hit. It had been reported Tuesday that Cohen was close to walking away from the table.

                As he concluded his comments on Thursday, Manfred would not definitively say the deal was dead at the time, but he seemed to know the direction things were heading in.

                "All I can tell you is right now, my belief is there is not going to be a transaction," Manfred added. "My soothsaying isn't great. I don't know what's going to happen. As of right now, it's my belief that the transaction is not going forward."

                Drew's Sig

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                • #23
                  "It's not the Wilpon's fault".

                  Shut the fuck up, Manfred, it's TOTALLY their fault.

                  You expect a businessman to fork over 2+ BILLION dollars and not have any say in the running of the team? You want someone to sell the team but keep your incompetent lying sack of shit son on the payroll? Are you kidding me?

                  Fuck the Wilpons, and fuck Manfred.

                  Comment


                  • #24
                    Alex Rodriguez 'emerges' as potential suitor

                    A bid led by A-Rod could be a 'long shot'

                    By Danny Abriano | 2:28PM


                    Alex Rodriguez, who grew up a Mets fan and has spoken in the past about idolizing the 1986 World Series team, has emerged as a "potential suitor" to buy the team, reports Thornton McEnery of the New York Post.

                    Click image for larger version

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ID:	10175According to McEnery, Rodriguez is "kicking the tires" about the idea of buying the Mets, though sources told McEnery that any bid from Rodriguez would be "a long shot" that would require Rodriguez putting together "an ownership group of even wealthier investors."

                    Mets COO Jeff Wilpon released a statement last week after the potential sale to Steve Cohen fell through, saying the team is "moving forward to find a new transaction."

                    Last Sunday, Bloomberg reported that in the wake of the failed negotiations with Cohen, there would be "no preconditions regarding control of the team" as part of the next attempted sale, meaning whoever becomes majority owner would likely have full control once the sale is complete.

                    Rodriguez's former teammate Derek Jeter recently became part-owner and CEO of the Marlins, with a source telling McEnery that A-Rod has been thinking about purchasing a team ever since Jeter became involved with the Marlins.

                    "[Rodriguez] genuinely loves the Mets," the source said. "He and J.Lo have talked about him buying a team ever since Jeter got the Marlins."

                    When he hit free agency after the 2000 season, Rodriguez attended one of the Mets vs. Yankees World Series games at Shea Stadium, but the Mets' pursuit of him went nowhere when then-GM Steve Phillips referred to him as a "24+1" player.

                    The 44-year-old Rodriguez -- a New York native -- has become a respected MLB analyst after his career ended a few years after being wrapped up in a steroid scandal.

                    https://www.sny.tv/mets/news/alex-ro...port/312768722


                    J Lo hanging out at CitiField would be a nice thing as long as she doesn't sing!

                    Comment


                    • #25
                      Originally posted by West Coast Mets Fan View Post


                      J Lo hanging out at CitiField would be a nice thing as long as she doesn't sing!
                      she's a "pop star"...so I would assume that the last time that she either didn't lipsynch or use Autotune was likely back when she was a "fly girl" on In Living Color back in the early 90's...

                      has anyone ever choreographed or used Autotune to "sing" the National Anthem before?

                      Comment


                      • West Coast Mets Fan
                        Editing a comment
                        All these choreographed performances are designed to try and cover up the fact that they actually have no musical talent.

                    • #26
                      Newest rumor has James Dolan wanting to buy the Mets and SNY

                      Comment


                      • #27
                        Originally posted by saxon View Post
                        Newest rumor has James Dolan wanting to buy the Mets and SNY
                        i'm hoping that is a bad joke.

                        Comment


                        • saxon
                          saxon commented
                          Editing a comment
                          https://nypost.com/2020/02/21/james-...-rumors-swirl/

                          James Dolan looking into buying SNY as Mets sale rumors swirl
                          By Thornton McEneryFebruary 21, 2020 | 10:27pm

                          Relax, Mets fans — James Dolan probably isn’t going to buy your team. He just wants the TV network.

                          As the Wilpon family cranks up a sale of its MLB franchise, rumors swirled this week that Dolan — who, as owner of the Knicks and the Rangers may be even less popular with Big Apple sports fans than the Wilpons — was interested in buying the Mets.

                          Sources confirmed it’s likely that the billionaire boss of Madison Square Garden will take a look alongside other prospective bidders. In addition to New York industry titans, those could include a bloc formed by ex-Yankee Alex Rodriguez, sources say.

                          Nevertheless, insiders said it’s not the team Dolan is likely interested in, but rather the Wilpons’ ownership stake in the SNY cable-TV network. The idea would be to merge it with the MSG Network to create a New York sports-broadcasting colossus, sources said.

                          “Jim Dolan buying the Mets sounds crazy at first,” said one banker familiar with Dolan and the Mets sale. “But he has always wanted to merge [the MSG Network] with another local sports channel. He needs baseball, and that might require taking a shot at the Mets.”

                          Asked on Friday about Dolan’s possible interest in the Mets and SNY, an MSG spokeswoman said, “We do not comment on rumor or speculation.”

                          On Wednesday, The Post reported that SNY could now be up for grabs after talks to sell 80 percent of the team for $2.6 billion to hedge-fund billionaire Steve Cohen fizzled last month. The network could be worth as much as $900 million in an auction scenario, according to one banking insider.


                          Multiple sources told The Post that Dolan has attempted in the past to strike a deal for the Yankees’ YES Network, which would have given his MSG Network rights to baseball games and summertime TV revenues that insiders say Dolan believes would make MSG a more appealing acquisition target.

                          Still, insiders cautioned that Dolan’s net worth is estimated at $1.5 billion — not nearly enough to buy the team, and likely forcing him to partner with another billionaire interested in owning the Mets. In that scenario, said one banker, Dolan could merge SNY with his networks and then sell his stake in the team.

                          Such a deal could be frowned upon by Major League Baseball, as would the fact that Dolan’s family already owns a team. His uncle, Larry Dolan, bought the Cleveland Indians in 2000.

                          In 1999 Cablevision was in serious negotiations to buy the Mets outright from the Wilpons and their late co-owner, Nelson Doubleday. That deal was reportedly scuttled by “structural and control issues” — a phrase that sounds eerily similar to what killed the Mets deal with Cohen in recent weeks. At the time, after the bid to buy the Mets fell through, the Dolans struck a deal to air some Mets games on MSG between 2002 and 2005.

                          Since SNY launched in 2006, MSG has not aired a big-league baseball game.

                          “There’s a network with its own baseball team out there,” said the banker. “[Dolan] would be remiss if he didn’t take a look.”
                          Last edited by saxon; 23-Feb-2020, 07:46 PM.

                      • #28
                        Some of the more points in the article is towards the end

                        said one banker, Dolan could merge SNY with his networks and then sell his stake in the team.

                        Such a deal could be frowned upon by Major League Baseball, as would the fact that Dolan’s family already owns a team. His uncle, Larry Dolan, bought the Cleveland Indians in 2000.

                        In 1999 Cablevision was in serious negotiations to buy the Mets outright from the Wilpons and their late co-owner, Nelson Doubleday. That deal was reportedly scuttled by “structural and control issues” — a phrase that sounds eerily similar to what killed the Mets deal with Cohen in recent weeks. At the time, after the bid to buy the Mets fell through, the Dolans struck a deal to air some Mets games on MSG between 2002 and 2005.

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