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Mets Sold - Steve Cohen Buys 95% of Mets

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  • #61
    I love that the last part of that link is f the wilpons/

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    • #62
      And, does anyone else find it ironic that Alex freaking Rodriguez feels like he was cheated out of a chance to own the Mets?

      Really, ARod? It hurts to be cheated, huh?

      Screw him and his overrated girlfriend. Get out, we didn't want you anyway.

      Comment


      • #63
        Originally posted by mjjm367 View Post

        Great question. And the answer isn't clear. Here's the only article I could find on the subject,

        https://www.nysportsday.com/2020/09/...f-the-wilpons/
        wow...the Wilkatz really set up the deal with SNY to benefit them instead of whoever buys the team...$56 Mil per season? that is where most teams make most of their revenue...Cohen should go the Dodgers route and black out games if attendance is below a certain threshold if they get that little revenue from the SNY cashcow

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        • saxon
          saxon commented
          Editing a comment
          2030, and the Mets are gone from SNY if the Wilkatz hold onto that crappy channel...the only thing that does not suck on SNY is the Mets games themselves

      • #64
        I have a feeling that Cohen has a little up his sleeve regarding the SNY deal. I have no proof to back that up, but it won't surprise me whatsoever.

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        • #65
          https://twitter.com/SNYtv/status/1303470700439760896

          Drew's Sig

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          • #66
            Jesus tapdancing Christ, take the hint, no one but Jeff wants you!

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            • #67
              I still don't see the other owners approving Arod. And I wouldn't either if I were them.

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              • #68
                Originally posted by mjjm367 View Post
                I still don't see the other owners approving Arod. And I wouldn't either if I were them.
                Did you see that J-Lo would act as the Mets’ control person, not A-Roid?? A move thought to try and get around the issue of A-Roid possibly not getting approved.

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                • #69
                  Originally posted by West Coast Mets Fan View Post

                  Did you see that J-Lo would act as the Mets’ control person, not A-Roid?? A move thought to try and get around the issue of A-Roid possibly not getting approved.
                  Saw that after I posted. The move was a day late and a dollar short. Might have rung a little truer if they had taken that stance from the beginning of their bid. At this point, would you believe it or would that just be in name only?

                  Have also now read that they are positioning themselves as a fallback position in case Cohen's bid falls through or he doesn't get approved.

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                  • #70
                    I think that the bottom line is that you can't have Miami Marlins ownership model in NYC...Cohen still has plenty of money left over after buying the Mets...the Jeter, I mean ARod, I mean J-Lo (or is that Kanye?) "fronted" group had to find every nickel that was hiding under their couch cushions to even make their bid competitive with Cohen....how is that sustainable with keeping up a competitive team in the future?

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                    • #71
                      They are only trying the "but, we're a minority, female ownership group" crap.

                      Go. Away.

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                      • #72
                        Originally posted by Brian Stark View Post
                        They are only trying the "but, we're a minority, female ownership group" crap.

                        Go. Away.
                        Then let them buy the Rays and let the Rays owner buy the Mets.

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                        • #73
                          Not that it is relevant to the current purchase but did people realize that when Doubleday purchased the Mets, it was at the suggestion of the principle owner of the Islanders? And that the Islanders' owner was also a minority owner of the Mets(and Doubleday was a 40 % owner of the Islanders at one time)? Neither Pickett or Doubleday wanted to be in the limelight so they gave Fredpon a little more titles than they should have...in fact, the article kind of places blame on Pickett for including him in the purchase...

                          3 part article, here's the link to the first part:

                          https://www.rockawave.com/articles/the-stoop-10/

                          The Man Who Saved The Mets, Part 1


                          The year is 1979. The cheers from the magical summer of a decade ago have long grown silent.

                          The New York Mets have the worst record in the National League. The stadium, which just 15 years ago was called state-of-the-art, hosted the 1964 All-Star Game and was a major attraction at the 1964 World’s Fair, is filthy, neglected and on most days, empty.

                          With the exception of homegrown matinee idol and All-Star center fielder Lee Mazzilli, the once-Amazin’ Mets are an embarrassment.

                          The Mets needed help, their fans needed hope, so John O. Pickett, the owner of the New York Islanders – who knew a little something about buying a downtrodden franchise and making it a contender — convinced his country club pal and publishing magnate Nelson Doubleday to consider buying the Mets.

                          Doubleday had made a great deal of money after buying a piece of the Islanders to help Pickett out, so he was open to the idea of purchasing a 40 percent interest in the woebegone Mets.


                          At first, the process seemed daunting; finding a group that made sense to partner with failed a few times, and there were plenty of other parties vying for a shot at rebuilding New York’s National League club. One of those groups included a real estate developer named Fred Wilpon, who was willing, but unable to raise any cash. He and his brother-in-law Saul Katz had a little more than a million bucks between them, but the pricetag for the Mets was $21 million, a record sum at the time.

                          In a decision he would later regret, Doubleday – at Pickett’s urging — agreed to allow Wilpon to become part of his ownership group. The final plan was Doubleday Publishing purchasing 95 percent of the team, Doubleday would serve as chairman of the board, and Fred Wilpon despite just a 2.5 percent stake, would be named team president.

                          Neither Pickett or Doubleday liked the limelight.

                          “We never wanted the spotlight and were never in the spotlight even when we were winning,” Pickett told the Daily News. “It just wasn’t important.”

                          Neither was putting his own personal stamp on the team. Like Doubleday, Pickett believed that he was an owner first, fan second, and the best way to build a champion was to hire competent professionals and get out of the way.

                          Pickett’s success with the Islanders – who won four straight championships from 1980-1984, was due to the team of General Manager Bill Torrey (who was hired as the s first-ever GM at Doubleday’s urging), and Al Arbour. Torrey, a Hall of Fame GM and Arbour, a Hall of Fame coach, did their jobs, Pickett went to the games and wrote the checks.

                          Pickett and Doubleday assumed that this would be the case with the Mets. That modesty would backfire, as their “front man” for the ownership group would be Fred Wilpon. The long-suffering Brooklyn Dodgers fan, childhood friend of Sandy Koufax was the spokesperson at the press conference introducing them to the New York media.

                          Doubleday even gave Wilpon the title of CEO in addition to president, believing Wilpon would treat his role on the team as largely administrative. Pickett had his hands full with the Islanders, Doubleday was running one of the biggest publishing houses in the country, and each figured Wilpon’s real estate company would keep him too busy to meddle. Not hiring someone outside of the ownership group to serve as President and CEO of the team would prove to be the second largest error made by the Doubleday ownership group; the first, including Wilpon in the Mets purchase, would prove to be far more egregious.


                          Most people who follow the team today simply refer to the purchase of the Mets in 1980 from Charles Shipman Payson as when “Doubleday and Wilpon bought the team.”

                          In the New York Times, however, it was accurately stated that Doubleday was the guy who bought the team.

                          Joe Durso, the late Hall Of Fame sportswriter from the New York Times called Pickett “the man who had brought all the investors together” and preferred “to stay in the background and probably would.”

                          Wilpon, in what would be a foreshadowing of decades of awkward quotes, said at the press conference that ”John Pickett was very instrumental in guiding us, but there is no definite role for him now.”

                          Intentional or not, it gave the impression Wilpon was dismissing Pickett, rather than giving him credit for putting the group together. It would prove be the first of public gaffes by Fred Wilpon, which many of his employees would eventually call the “Wilpon Doctrine”; take a simple situation and complicate it with overthinking, and defensive corporatespeak.

                          Doubleday still gets far too little credit for being THE owner of the Mets during their rise to glory. Part of it was his own doing; he distrusted the media, and granted few interviews during his tenure. One interview he did give, however, to Nancy Perry of Fortune Magazine was incredibly revealing, and most people have never read it.

                          It was conducted over a course of several conversations with Doubleday in January of 1986, months before the amazing summer and fall that was to follow. It is by far the most complete interview ever done with the former Mets owner.

                          We’ll share it with you next week.
                          Last edited by saxon; 10-Sep-2020, 02:45 PM.

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                          • #74
                            I'd be interested to read the Doubleday portion of that article once available...

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                            • #75
                              Mets set to have new owner as billionaire Steve Cohen
                              agrees to buy franchise from Wilpon family


                              The deal is worth a reported $2.475 billion, and Cohen will need MLB approval


                              by Matt Snyder
                              14 Sep 2020, 6:00 PM ET

                              The New York Mets have been majority owned by the Wilpon family since 1986 and in 2002 they bought the remaining shares of the franchise. One of the most disliked ownership groups in Major League Baseball is about to be out the door, along with club president Saul Katz. The Wilpons and Katz have agreed to sell the Mets to billionaire hedge fund manager Steve Cohen, the club announced Monday afternoon.Click image for larger version

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                              Per Tim Healey of Newsday, the deal values the Mets at around $2.475 billion. Cohen will reportedly own a 95 percent stake in the ballclub.

                              The pending deal needs to be approved by Major League Baseball before it is announced as official, but it's hard to find any compelling reason why the deal won't go through. Consider this basically a done deal.

                              The Mets have released the following statement:
                              "I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets," said Mr. Cohen.


                              Cohen, 64, has an estimated net worth more than $14 billion, per Forbes. This will be his first foray into the world of professional sports. Cohen grew up in New York, attending John L. Miller Great Neck High School.

                              A group that included Alex Rodriguez and Jennifer Lopez was also trying to buy the club, but Cohen is now set to be the next owner after a lengthy negotiation.

                              Once Cohen takes over, it'll be interesting to see what happens with the front office this coming offseason. It's fair to say the last four seasons have been incredibly disappointing for the Mets. Former agent Brodie Van Wagenen has been at the helm as executive vice president and general manager since October 2018, and there are more than a few moves that have turned out to be questionable. Will Cohen show up and start cleaning house?

                              It's difficult to know right now with Cohen not having any previous background in sports. Still, the likely refrain among Mets fans right now is probably "anyone but the Wilpons."


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