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NFT: Steve Cohen to own 95% of the Mets per league approval

DanMetroMan : 9/14/2020 5:21 pm
per Tim Healey
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None  
DanMetroMan : 9/14/2020 6:16 pm : link
Of the writers are clear if the Wilpon owner affiliates are included. Earlier it was being suggested they likely would hold onto Brooklyn
Bob  
DanMetroMan : 9/14/2020 6:17 pm : link
Nightengale says mid-November
He  
DanMetroMan : 9/14/2020 6:20 pm : link
Claims there is a 10 day vetting process and a mid November vote
It's been something like 30 years of these Wilpon schmucks.  
81_Great_Dane : 9/14/2020 6:23 pm : link
I'm sure MLB isn't eager to have a second free-spending team in New York, but at this point, I just want an upgrade to everything. The scouting, the farm system... and how about not turning everything Mets into Dodgers nostalgia? The Dodgers were in Brooklyn for 73 years, if you count the years they were in the American Assn. They've been in Los Angeles for 62 years. The Mets have existed for 58 years. They have their own identity. They're not the Dodgers of Fred Wilpon's childhood reborn. Geez, Fred, let it go. Nobody under the age of 70 cares anymore.

There's talk of renaming the Jackie Robinson Rotunda after Tom Seaver. Politically sensitive, but it should never have been named after a Dodger in the first place. Seaver works for me.
RE: It's been something like 30 years of these Wilpon schmucks.  
sb from NYT Forum : 9/14/2020 7:12 pm : link
In comment 14970317 81_Great_Dane said:
Quote:
I'm sure MLB isn't eager to have a second free-spending team in New York, but at this point, I just want an upgrade to everything. The scouting, the farm system... and how about not turning everything Mets into Dodgers nostalgia? The Dodgers were in Brooklyn for 73 years, if you count the years they were in the American Assn. They've been in Los Angeles for 62 years. The Mets have existed for 58 years. They have their own identity. They're not the Dodgers of Fred Wilpon's childhood reborn. Geez, Fred, let it go. Nobody under the age of 70 cares anymore.

There's talk of renaming the Jackie Robinson Rotunda after Tom Seaver. Politically sensitive, but it should never have been named after a Dodger in the first place. Seaver works for me.


I think the 42 makes a lot more sense at Barclays.
Wilpons  
DanMetroMan : 9/15/2020 12:50 pm : link
keep SNY and developmental rights of Willets point.
Wilpons  
DanMetroMan : 9/15/2020 12:52 pm : link
are not expected to be selling the Cyclones as part of this deal, Cohen would need to agree to a player development deal with the Wilpons (as the Cyclones owners), buy a new AA team or purchase the Cyclones outright.
I’ve heard from second hand sources that Cohen is a raging psycho  
Dave in PA : 9/15/2020 12:54 pm : link
I guess you have to be in that business and to amass billions upon billions of dollars. Hopefully it works out for the Mets
RE: Wilpons  
figgy2989 : 9/15/2020 12:58 pm : link
In comment 14973178 DanMetroMan said:
Quote:
are not expected to be selling the Cyclones as part of this deal, Cohen would need to agree to a player development deal with the Wilpons (as the Cyclones owners), buy a new AA team or purchase the Cyclones outright.


Aren't the Cyclones the Rookie A ball team for the Mets? Why would they need to buy a new AA team.

My hope is once the deal is finalized and Cohen finally has the team, he does his thing and start figuring out ways to get rid of the Wilpons. Create his own sports network, buy whatever minor league teams he has to and figure out a way to develop the land around the stadium without Sterling Equities.
RE: RE: Wilpons  
DanMetroMan : 9/15/2020 12:59 pm : link
In comment 14973193 figgy2989 said:
Quote:
In comment 14973178 DanMetroMan said:


Quote:


are not expected to be selling the Cyclones as part of this deal, Cohen would need to agree to a player development deal with the Wilpons (as the Cyclones owners), buy a new AA team or purchase the Cyclones outright.



Aren't the Cyclones the Rookie A ball team for the Mets? Why would they need to buy a new AA team.

My hope is once the deal is finalized and Cohen finally has the team, he does his thing and start figuring out ways to get rid of the Wilpons. Create his own sports network, buy whatever minor league teams he has to and figure out a way to develop the land around the stadium without Sterling Equities.


Cyclones are expected to become the Mets AA affiliate due to the elimination of 40-60 minor league teams.
So  
DanMetroMan : 9/15/2020 1:01 pm : link
assuming the Wilpons are keeping the Cyclones, he will either sign a player development deal with them, buy a different AA team (Cyclones ceasing to be a Mets affiliate, which I would be stunned to see) or he buys them outright (doesn't sound like they are for sale).

"Under the proposal, reported by Bill Madden of the Daily News, the Cyclones in their current iteration as a New York Penn League team would be eliminated, and they would become the Mets' Double-A affiliate, which currently plays in Binghamton.

According to Baseball America, the proposal would "completely reorganize" the full-season minor leagues, with the four highest levels -- Triple-A, Double-A, High-A, and Low-A, reworked to make those leagues "more geographically compac"
Got ya  
figgy2989 : 9/15/2020 1:02 pm : link
Thanks Dan. It would be in Cohen's best interest to cut ties with the Wilpons wherever he can.

Brooklyn  
DanMetroMan : 9/15/2020 1:08 pm : link
is obviously a very appealing place to have a team, even for non-NY teams. Hopefully, they work something out.
RE: Brooklyn  
pjcas18 : 9/15/2020 1:11 pm : link
In comment 14973212 DanMetroMan said:
Quote:
is obviously a very appealing place to have a team, even for non-NY teams. Hopefully, they work something out.


Sure, but why would Cohen want anything to do with the Wilpons.

If I were Cohen I'd reach out to the guy from BING who got contracted and re-open that franchise the first chance he gets as the AA team.
RE: RE: Brooklyn  
DanMetroMan : 9/15/2020 1:18 pm : link
In comment 14973214 pjcas18 said:
Quote:
In comment 14973212 DanMetroMan said:


Quote:


is obviously a very appealing place to have a team, even for non-NY teams. Hopefully, they work something out.



Sure, but why would Cohen want anything to do with the Wilpons.

If I were Cohen I'd reach out to the guy from BING who got contracted and re-open that franchise the first chance he gets as the AA team.


1) He's still going to be in business with them as they will own 5% of the team 2) They are developing the area around the stadium (he will also get a taste of that per reports) 3) The Cyclones due to location are one of the more valuable teams/markets in all of minor league baseball 4) Because of licenses, Cohen could not just "re-open" the Rumbleponies, he would need to purchase one of the existing Eastern League teams.
I know all of that  
pjcas18 : 9/15/2020 1:28 pm : link
does it mean he has to be held hostage with the minor league team.

Can't an MLB owner decide where his affiliation should be?

Even the Mets under the Wilpons had 5 locations for AAA the past 20 years.

It seems like if Cohen wants to, he should be able to pick his own affiliation and IMO if that means ending Brooklyn and restarting BING it should be his call, not MLBs
RE: I know all of that  
DanMetroMan : 9/15/2020 1:32 pm : link
In comment 14973237 pjcas18 said:
Quote:
does it mean he has to be held hostage with the minor league team.

Can't an MLB owner decide where his affiliation should be?

Even the Mets under the Wilpons had 5 locations for AAA the past 20 years.

It seems like if Cohen wants to, he should be able to pick his own affiliation and IMO if that means ending Brooklyn and restarting BING it should be his call, not MLBs


No. That's not his call. Each league has X licenses. He would need to purchase an existing license/team and then move that license to (in this case) Bing.
This  
DanMetroMan : 9/15/2020 1:35 pm : link
is why teams ended up playing in Las Vegas (worst ball park in the minors). Because Las Vegas held/holds one of the AAA licenses.
.  
DanMetroMan : 9/15/2020 1:40 pm : link
Bobby Valentine
@BobbyValentine
·
1h
I am happy for the Wilpons. I am ecstatic for the Cohen family!! Let s go Mets.
.  
DanMetroMan : 9/15/2020 1:51 pm : link
Charles Gasparino
@CGasparino
SCOOP: @AROD
- @JLo
- @marcericlore
bidding group for the @Mets
will be approaching the team's investment bankers with the following proposition: If Steve Cohen is rejected by owners, they will MATCH his offer without any renegotiation. They believe many owners are wary of Cohen
.  
DanMetroMan : 9/15/2020 1:52 pm : link
Charles Gasparino
@CGasparino
·
15m
More @Mets/Steve Cohen, I do hear that as of now he has the votes to be approved as @Mets
new owner. Once again he was NEVER charged with insider trading and he paid up for a team IN CASH that is in deep trouble. That will score points with owners when they meet in Nov
Jeff Wilpon attempted to undermine Cohen bid  
JB_in_DC : 9/15/2020 3:48 pm : link
Quote:
Alex Rodriguez had an ally in Jeff Wilpon until the very end. Jeff Wilpon desperately wanted the group led by A-Rod and Jennifer Lopez to take over because the couple, unlike Cohen, would have let him have an active role in the team. Right up until Monday evening, when Sterling Partners announced Cohen would purchase the Mets, Jeff Wilpon was the one propping up A-Rod in exchange for keeping a hand in operations. The Rodriguez-Lopez group simply did not have enough money to top Cohen.


It really is amazing - between keeping Jeff Wilpon on, his history of cheating, the amount of debt he'd need to take on, and lets be honest playing the race card and gender card that the J-Rod group could actually buy the team and not be celebrated as heroes by Mets fans. Thank god Saul Katz essentially told them eff you, and we can wake up from our old nightmare, and avoid a new one.
Mets fans can happily shift attention from sluggish fight for playoffs to Steve Cohen’s future club - ( New Window )
I  
DanMetroMan : 9/15/2020 3:56 pm : link
don't see how I can remain interested in the Mets if Cohen isn't approved and JLO/A-Rod and Jeff Wilpon are running the show. Please, please please approve him!
I  
DanMetroMan : 9/15/2020 4:09 pm : link
have to believe even PJ (devil's advocate for A-Rod) has to agree it's best he didn't win after reading that... yikes.
RE: I  
pjcas18 : 9/15/2020 4:11 pm : link
In comment 14973499 DanMetroMan said:
Quote:
have to believe even PJ (devil's advocate for A-Rod) has to agree it's best he didn't win after reading that... yikes.


My only point all along was Arod has to be better than Wilpon, it's not a secret that I like all Mets fans preferred Cohen by a long shot (like 99%/1%). If Arod was Wilpon 2.0 yeah we dodged a bullet.
RE: RE: I  
DanMetroMan : 9/15/2020 4:16 pm : link
In comment 14973504 pjcas18 said:
Quote:
In comment 14973499 DanMetroMan said:


Quote:


have to believe even PJ (devil's advocate for A-Rod) has to agree it's best he didn't win after reading that... yikes.



My only point all along was Arod has to be better than Wilpon, it's not a secret that I like all Mets fans preferred Cohen by a long shot (like 99%/1%). If Arod was Wilpon 2.0 yeah we dodged a bullet.


Well, Jeff in an "active role" is terrifying to me and A-Rod willing to allow that says something about winning vs. simply owning. Jeff Wilpon is a disaster. In all their years owning the team I legit don't recall a single word of praise outside of a new FA saying thank you to the Wilpons etc
A-Rod a joke as usual with his "rigged" claim. The fact is that  
Victor in CT : 9/15/2020 4:21 pm : link
Cohen can write a check for the whole thing. Alone. The so-called A-Rod bid had many moving parts and partners and was heavily dependent on bank financing. No sane group would approve that over Cohen.
My guess is it  
pjcas18 : 9/15/2020 4:23 pm : link
was a desperate ploy by team Arod to get around the fact they have less money than Cohen.

I wouldn't be surprised if Jeff Wilpon is working to gin up support among owners to reject Cohen to keep a prominent spot for himself with the Mets in an Arod regime.

Luckily it sounds like the other owners also disliked Jeff.
.  
DanMetroMan : 9/15/2020 5:42 pm : link
Let’s start with what should be the main takeaway from this reporting: Most baseball executives surveyed believe that MLB owners will ultimately vote to approve Steve Cohen as principal owner and control person of the Mets.

But as SNY reported on Monday, after Cohen agreed to purchase 95 percent of the team from the Wilpon and Katz families, approval is not quite a foregone conclusion. The process could become a bit bumpy, even if it ultimately concludes the way that Cohen and the Mets hope.

Cohen needs the votes of 23 of the 29 other owners, likely in November.


According to multiple league executives with knowledge of the process, a group of owners is less than thrilled about Cohen. The New York Daily News named Chicago White Sox owner Jerry Reinsdorf as one of the anti-Cohen owners, and our sources are hearing the same (a White Sox spokesperson did not respond to a request for comment from Reinsdorf).

It’s not entirely clear what Reinsdorf's specific concerns are, but sources identified three main areas where potential issues could arise.

Cohen and the fund he once ran, SAC Capital Advisors, was investigated and fined for insider trading (Cohen himself was never charged). His current fund, Point72 Asset Management, has been accused of fostering a toxic work culture and one of unequal pay for women employees. Also, Cohen’s previous bid for the Mets last year ended up ruffling some feathers around the league.

“Some owners – he’s not their favorite guy,” said one source.
Link - ( New Window )
Solid  
DanMetroMan : 9/15/2020 5:56 pm : link
read
Link - ( New Window )
you know what's great - BVW may have given Jeff the kill shot  
Eric on Li : 9/15/2020 5:57 pm : link
with his leak that embarrassed Manfred a couple weeks ago. You see how enthusiastic Manfred's quotes have been re: Cohen the last few days? I don't think that guy wants any part of the Wilponzis bullshit any more.
Reinsdorf  
TyreeHelmet : 9/15/2020 7:39 pm : link
Being opposed to Cohen is such a joke. I guarantee its for one reason only- he's scared of Cohen spending. How about he just stays focused on cheaply running his own sports franchises. Screw that guy.
Is there a more annoying human in sports than Jerry Reinsdorf  
bhill410 : 9/15/2020 9:33 pm : link
He killed the bulls dynasty because he refused to pay pippen, was allegedly behind the 94 strike, killed the padres purchasing deal, and generally manages his teams horribly.
Special  
DanMetroMan : 9/16/2020 8:32 am : link
vote COULD be held as soon as late next week depending on how the vetting goes. 10 day minimum vetting process. At least a "few" owners are expected to vote "no".
.  
DanMetroMan : 9/16/2020 8:35 am : link
FWIW @NYPost_Mets is reporting the vote won't happen until October "at the earliest" #Mets
Two days ago I was in full celebration mode  
Rob in Rockaway : 9/16/2020 9:08 am : link
now I am nervous as hell about this vote. The Arod-Jlo groups apparent ability/willingness to match the valuation, and even more so Reinsdorf leading the charge against Cohen is leaving me with a very Mets fan like feeling...
Yeah  
pjcas18 : 9/16/2020 9:27 am : link
I have a bad feeling something Mets-ish is going to happen.

the more time it takes for the vote the less likely I feel like it will go smoothly.

I can envision right now behind the scenes Jeff Wilpon is like a rat clinging to life - and making deals with all the owners he can to vote no. And Arod is promising to trade them prospects for pennies on the dollar (ok I made that last part up - but it could happen - in a Stephen King-like baseball horror movie)
Cohen  
TyreeHelmet : 9/16/2020 9:51 am : link
How would 7 owners vote against this sale? Blaming it on the insider trading deal that was settled with the government 7 years ago?

Reinsdorf is a powerful owner but I don't see how this gets voted down. Sure hope I am right.
They  
DanMetroMan : 9/16/2020 10:11 am : link
need 22 yes votes, Heyman said he's only heard of 2 "no's" thus far.
RE: Wilpons  
Section331 : 9/16/2020 10:14 am : link
In comment 14970272 DanMetroMan said:
Quote:
will retain SNY.


I'm curious if the Mets have a formal agreement with SNY, because Cohen will hold a lot of leverage. If he threatens to pull Mets games from SNY, the network is worthless.
MLB  
DanMetroMan : 9/16/2020 10:17 am : link
hopes to have the 16 team playoffs going forward, YUCK.
RE: RE: Wilpons  
DanMetroMan : 9/16/2020 10:20 am : link
In comment 14974170 Section331 said:
Quote:
In comment 14970272 DanMetroMan said:


Quote:


will retain SNY.



I'm curious if the Mets have a formal agreement with SNY, because Cohen will hold a lot of leverage. If he threatens to pull Mets games from SNY, the network is worthless.


The Mets have a formal contract with Sterling/Comcast/Charter. That contract is believed to expire after the 2030 season.
RE: RE: Wilpons  
Jim in Fairfax : 9/16/2020 10:21 am : link
In comment 14974170 Section331 said:
Quote:
In comment 14970272 DanMetroMan said:


Quote:


will retain SNY.



I'm curious if the Mets have a formal agreement with SNY, because Cohen will hold a lot of leverage. If he threatens to pull Mets games from SNY, the network is worthless.

They do - it runs thru 2030.

They piled a crapload of debt into SNY, so it’s worth a lot less than it aught to be. And the value will drop every year since the team can and will walk at the end. The Wilpons would be wise to just get out, but they’re not the sharpest tools. They’re just tools.
RE: .  
Mike in NY : 9/16/2020 10:39 am : link
In comment 14973289 DanMetroMan said:
Quote:
Charles Gasparino
@CGasparino
SCOOP: @AROD
- @JLo
- @marcericlore
bidding group for the @Mets
will be approaching the team's investment bankers with the following proposition: If Steve Cohen is rejected by owners, they will MATCH his offer without any renegotiation. They believe many owners are wary of Cohen


This worries me as there might be enough owners who will like that A-Rod wants a hard cap and will basically treat the Mets like a farm system for the rest of the league. Having a perennial doormat increases the likelihood of other teams making the playoffs and winning the World Series.
Darvish  
DanMetroMan : 9/16/2020 10:58 am : link
is likely the leader for NL Cy Young by a nose right now. Really rooting for DeGrom to pull this out.
Arod  
TyreeHelmet : 9/16/2020 11:37 am : link
Shouldn't Arod's history with MLB be more of a red flag then Cohen's insider trading? If after all of this Cohen gets rejected for Arod and JLo I am done with the Mets.
good news - they aren't scheduling an early vote to deny Cohen  
Eric on Li : 9/16/2020 12:27 pm : link
Quote:
Sports Business Journal
@sbjsbd
Source: #MLB owners are expected to vote on approving Steve Cohen's #Mets purchase before their November meetings, per @timbhealey & @DPLennon of @Newsday. Cohen's bid is expected to be approved when the vote does happen.


And while there may be a few owners with shared DNA to Jeff who may be lured in by the celebrity and charisma of someone like A-Rod becoming an owner, most are all about the bottom line and do not want to deal with his BS. How many stupid headlines has he made during this process? They do not want that. Most importantly Manfred doesn't want that. He came out for the hard cap and then immediately walked it back because he rubbed the players the wrong way. The last thing they want ahead of a labor negotiation.
it is greater than 0% chance he gets rejected  
capone : 9/16/2020 12:41 pm : link
- some think he is a criminal and got one of his minions to take the fall - and it does appear that way
- he may be a big spender and a rebel in other areas- which is not wanted
- I think he would be the wealthiest owner but certainly teh richest not counting the baseball team
- he rubs people the wrong way
- people don't like or care about the wilpons they dont have allot of mlb juice
- that said a high price lifts all boats and he paid a high price
- if there really is a backup offer at the same price I would take 8-1 odds
lastly if its a close vote and he barely wins  
capone : 9/16/2020 12:44 pm : link
they will revote and it will be unnanimous or 90%+ for appearences / less publicity
BTW, Arod is like fucking herpes. The fact that he’s hanging on  
PhiPsi125 : 9/16/2020 9:32 pm : link
and hasn’t gone away makes me believe that there’s a chance that the MLB owners won’t approve Cohen. Which I believe is 100% because he’s got a ton of money. It ain’t because of his shady past because I’m sure ALL the owners partake in some fuckery.

Mark my words...Arod will be WORSE than the Wilpons. And I’ll be officially done with the Mets if that happens. And baseball all together.
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