NFT: Mets bids in - Cohen, Arod and Blitzer among them

A group featuring 30-year-old private investment chairman and CEO, C.K. McWhorter, is expected to hear from Major League Baseball if they have been approved to pursue majority ownership of the New York Mets by Wednesday with an estimated $1.8 billion bid, a source with close knowledge of the situation told amNewYork Metro on Monday.
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vaughn mcclure
@vxmcclure23
Brian Urlacher, Travis Kelce, DeMarco Murray, Joe Thomas, Bradley Beal part of star-studded group joining A-Rod, J-Lo bid to purchase Mets

Is a disaster waiting to happen. If it takes this many people just to put together a competitive bid, how and who will deal with the debt? How and who will figure out what the payroll is, while also dealing with the debt?

It doesn't seem to me they have the resources to be able to stay afloat once they actually own the team. They might be able to put together a bunch of people to purchase it....but then what?

I want it to be Cohen, predicted it will be Harris/Blitzer because they have the money and are a "clean" bid without any red flags.

In comment 14932577 moespree said:

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Is a disaster waiting to happen. If it takes this many people just to put together a competitive bid, how and who will deal with the debt? How and who will figure out what the payroll is, while also dealing with the debt? It doesn't seem to me they have the resources to be able to stay afloat once they actually own the team. They might be able to put together a bunch of people to purchase it....but then what?

How many owners do you think the Dodgers have?

Ownership groups are not uncommon and will likely have a majority owners. I doubt that it's something most fans should be concerned with.

I'd prefer one owner with massive pockets (like Cohen or Cuban or Musk - as examples), but I view a star-studded ownership group headed by Arod as a better option than the Wilpons and I have no idea what that would look like.

Goldman character pled guilty to extortion in 2009 (faced 20 years in jail), and now claimed she was close with Ghislaine Maxwell... who has never met the woman. I'm honored to have been blocked by her lol.

Harris/Blitzer have the coin but they don't seem like they care as much about winning as they do turning a profit (reportedly view the Mets tv rights as the gem in this deal), the Reuben brothers have the most money but I don't believe they even bid.

there IS a difference with the Dodgers as their majority owner is worth 3.1 billion by himself. The A-Rod group seems more complicated as he and JLO are pushing to be principals despite nowhere near the most money in the pot. Obviously I would prefer JROD vs. the Wilpons but Walton/Magic Johnson alone are worth nearly 4 billion dollars.

In comment 14932615 DanMetroMan said:

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there IS a difference with the Dodgers as their majority owner is worth 3.1 billion by himself. The A-Rod group seems more complicated as he and JLO are pushing to be principals despite nowhere near the most money in the pot. Obviously I would prefer JROD vs. the Wilpons but Walton/Magic Johnson alone are worth nearly 4 billion dollars.

agree. I thought moespree's concerns were more about personalities clashing. Billie Jean King is a Dodgers owner (nothing against her personally just saying wealthy celebrities buying into a team doesn't scare me).

The Marlins had 16 investors. Jeter "only" paid $25M.

Bruce Sherman, the principal owner (I believe) "only" has a documented net worth of 500M (in 2018), and he's the lead investor. Arod/Jlo have a higher net worth (combined - today) - of course the Mets are more expensive but same concept IMO.

If the future majority owner/s has the deep pockets(as in multi billions) it's irrelevant if they want to bring on numerous minority partners and some celeb power to bolster their bid. It's window dressing.

As far as a 'clean' bid is concerned that's also irrelevant. As long as MLB has signed off on the bidders the Wilponsies are slime and could care less if there are some grey areas in the past.

I doubt Harris/Blitzer have any kind of inside track as they are all about the bottomline and fiscal responsibility. Multiple sources have suggested they have a monetary ceiling to their interest.

Cohen is the favorite. He's easily the wealthiest interested party, already a minority owner and he wants the team because he has a passion for it. So he'll go a little extra when push comes to shove to get it.

owners not wanting Cohen in there because he is "too rich" scare me; however they are also in direct contrast to the rumors that the owners wont sign off on a valuation of the mets below 2 billion. Sounds like they are trying to thread the needle while ensuring that the mets are stuck with crappy owners. Apparently they previously pulled this with Cuban back in the day.

Everything is being planted by his side and Wilpons. Notice how the Cohen story QUICKLY changed when the family mistake planted the “Cohen will have to overbid by $250mm”. The adults took charge and talked up the A Rod bid and downplayed Cohens bid. This crap is more of the game

You're kind of missing the point of both sides maneuvering in the press. Why are they? Because they both know that ultimately the deal is going to be made between them. Cohen has the most money. They want the most money. It's the positioning prelim to getting this done.

In comment 14932812 Shecky said:

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Everything is being planted by his side and Wilpons. Notice how the Cohen story QUICKLY changed when the family mistake planted the “Cohen will have to overbid by $250mm”. The adults took charge and talked up the A Rod bid and downplayed Cohens bid. This crap is more of the game

The Wilpon games are like an olympics where everyone loses. And the host city is Chernobyl.

If there was another bid they could hype up more than the A-Rod group we'd probably be hearing about it so if that's the best competition out there i'd still take Cohen over the field.

I don’t mean a written one or a formal one but is there a sense that the sale, if it goes thru, has to go thru by a certain time? I would be surprised if Cohen or any other deep pocket businessman would allow this to be open ended.

The comment that owners would not want Cohen because he is too wealthy is nuts. The owners, especially those who pocket what they get from the luxury tax, would love another big spending owner if only to pad their bottom lines. And, the more the Mets are worth should mean the more their franchises are worth.

In comment 14932981 Samiam said:

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I don’t mean a written one or a formal one but is there a sense that the sale, if it goes thru, has to go thru by a certain time? I would be surprised if Cohen or any other deep pocket businessman would allow this to be open ended. The comment that owners would not want Cohen because he is too wealthy is nuts. The owners, especially those who pocket what they get from the luxury tax, would love another big spending owner if only to pad their bottom lines. And, the more the Mets are worth should mean the more their franchises are worth.

Reportedly the only "deadline" is before 2021.

extension from Chase (I think), so their timeline is asap - especially since their operating revenue was tight pre-C19. They are going to make some kind of transaction this year and I think they know they already have at least 2 strikes against them.

I'd never put it past them to keep digging a deeper hole but I think within the next month there will either be a bidder who puts forward a very compelling offer that they take or the team will fall into Cohen's lap. And Cohen could be the former in addition to the latter, which is why I'd continue to peg him as the favorite.

umpires are opting out. Cano, Hughes and Brach remain MIA.

Corey Brock
@CoreyBrockMLB
·
2m
Scott Servais, not completely slamming the door on 20 y/o Jarred Kelenic making the Opening Day, but ...
"We need to be smart here. We want to make sure the time is right for him," Servais said.

In comment 14933008 DanMetroMan said:

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umpires are opting out. Cano, Hughes and Brach remain MIA.

Joe West, Angel Hernandez, and Jerry Meals not among those opting out from what I saw. A number of the better umpires are opting out.

Billionaires Steve Cohen and Josh Harris, a group led by Alex Rodriguez and a fourth unidentified party have all advanced to the second round of bidding for the New York Mets, people familiar with the matter told Sportico.

The groups were informed of their status by the investment bank Allen & Co., which is overseeing the sale process. They were also told not to submit offers on the team’s regional sports network, SNY, which is not part of the sale, said the people, who were granted anonymity because the matter is private.

The groups were told that representatives for Allen & Co. and the Mets would reach out soon to provide more detailed information on the franchise, the people said.

Cohen, a hedge fund titan, submitted a $2 billion bid in the opening round. He also reportedly bid $2 billion for the network.

First-round bids were non-binding, meaning prospective owners can alter their offers as the process moves along. At least five groups submitted opening bids for the team.

Allen & Co. declined to comment, as did spokespeople for Cohen, Harris and Rodriguez.
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I mean obviously I want cohen and im nervous about the Arod/Jlo group (nervous about spending). Really not sure what to make of harris tbh. I mean they are all better then the Wilpon's.

In comment 14933067 Italianju said:

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I mean obviously I want cohen and im nervous about the Arod/Jlo group (nervous about spending). Really not sure what to make of harris tbh. I mean they are all better then the Wilpon's.

The other names that have been floated were the Reuben Brothers (later downplayed), a group effort headed by Kurt Rappaport and a group headed by CK McWhorter

In comment 14933022 DanMetroMan said:

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Corey Brock @CoreyBrockMLB · 2m Scott Servais, not completely slamming the door on 20 y/o Jarred Kelenic making the Opening Day, but ... "We need to be smart here. We want to make sure the time is right for him," Servais said.

I saw some gifs on twitter of Kelenic hitting bombs. I suggest if you want to avoid vomiting avoid watching them.

Wilpons will be opening their books for round 2... please leak, please leak!

In comment 14933096 DanMetroMan said:

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Wilpons will be opening their books for round 2... please leak, please leak!

Real books or fiction bestsellers?

In comment 14933101 Mike in NY said:

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In comment 14933096 DanMetroMan said: Quote: Wilpons will be opening their books for round 2... please leak, please leak! Real books or fiction bestsellers?

You'd like to believe that anybody offering 2ish billion dollars has a good idea regarding falsified #'s right? That being said, I can't imagine we learn much. The NDA's will likely be nuts.

is not for sale, the Wilpons will retain control.

believed that Cohen's opening bid was roughly 100 million more than A-Rod/JLO.

for the last 4 years. I really hope Stroman and Diaz go beastmode this year and beyond.

that the Arod group is pretty much maxed out, but thats not confirmed right?

This idea the owners dont want cohen cause he is too rich has to be BS right? You cant have the value of your frachises climb, sign billion dollar TV deals, and then want to cut spending on players.

In comment 14933123 Italianju said:

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that the Arod group is pretty much maxed out, but thats not confirmed right? This idea the owners dont want cohen cause he is too rich has to be BS right? You cant have the value of your frachises climb, sign billion dollar TV deals, and then want to cut spending on players.

A-Rod group has actually added additional investors so presumably Cohen will have to up his bid to comfortably be the leader. Sucks SNY will remain under Wilpon control. SNY will be a wasteland once the contract is up.

Cohen should have no trouble maintaining a healthy bid gap between his offer and everyone else reported to have advanced(barring the one unannounced so far). That should get this done in a relatively simple progression. The sooner the better. The Wilponsies/Katz have been bleeding revenue since Madoff and Covid's financial impact put the nail in the coffin. They won't be leaving any significant difference on the table.

yeah i had seen the added investors but i wasnt sure if they needed to do that to get up to the bid total or not.

He was going to go to 2.6b as recently as February. As long as the Wilpons and/or the owners don't do something stupid it seems difficult to believe the A-Rod group will in the end be able to keep up.

But as everyone knows, nothing is ever easy or set in stone with the Wilpons.

but we dont know how high he is willing to go this time around. Lets hope its high enough.

In comment 14933129 Italianju said:

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yeah i had seen the added investors but i wasnt sure if they needed to do that to get up to the bid total or not.

To be fair, I have no clue the additional investement from the new investors but A-Rod's bid reportedly was closer to 2 billion than the 1.7 reported. Even with all of the new names, none of those guys are kicking in "huge" money. Bradley Beal for example has a reported net worth of 27.1 million, realistically how much can he possibly be kicking in? If Cohen wants to blow away the field he can. DOES he want to? Has he been spooked by other owners? His Dodgers pursuit? Who knows?

if Cohen "only" offers 50-100 million more... how do the Wilpons/Katz's turn that down? They might be rich but 100 million added to family coiffures...

his original accepted offer was 80% of the team at a valuation of $2.6bn - which means that offer was around $2.1bn.

I haven't seen any confirmation beyond the $2bn bid for the team this round in terms of whether or not that was the valuation or the amount he'd pay for 80% again.

If A-Rod's group's offer was higher than the rumored $1.7bn for 80% (valuing the team around 2.1bn), and it was also 100m below Cohen's, then it would stand to reason that Cohen's 2bn bid was for 80% of the team (lowering his valuation of the team to around 2.5bn this time).

Either one of the other bidders gets aggressive or Cohen gets the team. And if one of others gets aggressive, Cohen could get more aggressive. We'll see what happens but don't nothing yet changes his status as the favorite.

to be the 4th bidder

A group featuring 30-year-old private investment chairman and CEO, C.K. McWhorter, is expected to hear from Major League Baseball if they have been approved to pursue majority ownership of the New York Mets by Wednesday with an estimated $1.8 billion bid, a source with close knowledge of the situation told amNewYork Metro on Monday.

In comment 14933143 DanMetroMan said:

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to be the 4th bidder A group featuring 30-year-old private investment chairman and CEO, C.K. McWhorter, is expected to hear from Major League Baseball if they have been approved to pursue majority ownership of the New York Mets by Wednesday with an estimated $1.8 billion bid, a source with close knowledge of the situation told amNewYork Metro on Monday.

Not familiar with him but doesn't seem like he's got the $ but who knows. Maybe he's got some partners behind him.

it impacts him on the field but Alonso looks like he packed on some bad weight.

In comment 14933143 DanMetroMan said:

Quote:

to be the 4th bidder A group featuring 30-year-old private investment chairman and CEO, C.K. McWhorter, is expected to hear from Major League Baseball if they have been approved to pursue majority ownership of the New York Mets by Wednesday with an estimated $1.8 billion bid, a source with close knowledge of the situation told amNewYork Metro on Monday.

Does this imply the other groups who has made bids have already been approved to pursue majority ownership?

sign Puig

In comment 14933161 pjcas18 said:

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In comment 14933143 DanMetroMan said: Quote: to be the 4th bidder A group featuring 30-year-old private investment chairman and CEO, C.K. McWhorter, is expected to hear from Major League Baseball if they have been approved to pursue majority ownership of the New York Mets by Wednesday with an estimated $1.8 billion bid, a source with close knowledge of the situation told amNewYork Metro on Monday. Does this imply the other groups who has made bids have already been approved to pursue majority ownership?

AMNY simply phrased things awkwardly. The league vote will not come until an agreement is in place and could take a matter of months. They didn't run 7 bids by 30 MLB owners.

Alonso
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is back in camp, Brach and Hughes are not.

is likely referring to being a "qualified bidder". Qualified bidders only needed to submit a packet breaking down their financial backing. This had nothing to do with an owners approval vote. 22 owners will need to vote yes for the bid go through.

Steve Gelbs
@SteveGelbs
· 13m
Update on Jacob deGrom. The Mets say that he left tonight's game with back tightness. No further update provided at this time.

being rejected because he'd spend too much would be peak Mets.

update.