Steve Cohen Backs out of Mets deal
This could only happen to the Mets. And six days before Spring Training no less.
Steve Cohen, the Billionaire hedge fund manager, whose endless pockets of money appeared to be in line to become the next owner of the New York Mets, now won't be after contract negotiations stalled.
Multiple reports indicated late Tuesday that the discussion between the Wilpon's and Cohen has fallen through completely after Cohen walked away from the table. The parameters of the deal may have changed, and it is anyone's guess as to why and how.
But history tells us that this is shaping up into another dirty trick by the Wilpon's. Why? Well, nine years ago the Mets were in negotiations to sell a minority stake to another hedge fund manager in David Eihnorn. There was even discussion that the Mets would make Eihnorn the majority owner, potentially, after three years. Then, suddenly the deal fell through. Many speculated then that the Wilpon's convinced Eihnorn that Major League Baseball would never approve of a transition in power over the course of three years. Eihnorn found out the contrary from baseball itself, and the deal died.
Could that be the reason behind this latest mess? Only the Wilpon's and Steve Cohen know for sure.
This is not to say that Cohen and the Wilpon's won't meet up again and try to make a deal work for both sides -- it's part of the negotiation process, but the likelihood that a sale will happen appears remote.
This is a huge disappointment for fans hoping to get the frugal owners out of the owners box and substitute them with an owner with deep pockets. The Mets were going to be real players. Instead of shopping at Walmart ( and I have nothing against Walmart) the Mets would be shopping on 5th Avenue. Now those dreams are just that, dreams.
Steve Cohen, the Billionaire hedge fund manager, whose endless pockets of money appeared to be in line to become the next owner of the New York Mets, now won't be after contract negotiations stalled.
Multiple reports indicated late Tuesday that the discussion between the Wilpon's and Cohen has fallen through completely after Cohen walked away from the table. The parameters of the deal may have changed, and it is anyone's guess as to why and how.
But history tells us that this is shaping up into another dirty trick by the Wilpon's. Why? Well, nine years ago the Mets were in negotiations to sell a minority stake to another hedge fund manager in David Eihnorn. There was even discussion that the Mets would make Eihnorn the majority owner, potentially, after three years. Then, suddenly the deal fell through. Many speculated then that the Wilpon's convinced Eihnorn that Major League Baseball would never approve of a transition in power over the course of three years. Eihnorn found out the contrary from baseball itself, and the deal died.
Could that be the reason behind this latest mess? Only the Wilpon's and Steve Cohen know for sure.
This is not to say that Cohen and the Wilpon's won't meet up again and try to make a deal work for both sides -- it's part of the negotiation process, but the likelihood that a sale will happen appears remote.
This is a huge disappointment for fans hoping to get the frugal owners out of the owners box and substitute them with an owner with deep pockets. The Mets were going to be real players. Instead of shopping at Walmart ( and I have nothing against Walmart) the Mets would be shopping on 5th Avenue. Now those dreams are just that, dreams.
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