New York Mets: Three observations on the Steve Cohen sale

NEW YORK, NEW YORK - APRIL 10: Point72 Asset Management and Gala Chair Steven A. Cohen speaks on stage the Lincoln Center Alternative Investment Gala at The Rainbow Room on April 10, 2019 in New York City. (Photo by Dave Kotinsky/Getty Images for Lincoln Center)
NEW YORK, NEW YORK - APRIL 10: Point72 Asset Management and Gala Chair Steven A. Cohen speaks on stage the Lincoln Center Alternative Investment Gala at The Rainbow Room on April 10, 2019 in New York City. (Photo by Dave Kotinsky/Getty Images for Lincoln Center)
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PORT ST. LUCIE, FL – MARCH 08: A New York Mets batting helmet in the dugout before a spring training baseball game against the Houston Astros at Clover Park on March 8, 2020 in Port St. Lucie, Florida. The Mets defeated the Astros 3-1. (Photo by Rich Schultz/Getty Images)
PORT ST. LUCIE, FL – MARCH 08: A New York Mets batting helmet in the dugout before a spring training baseball game against the Houston Astros at Clover Park on March 8, 2020 in Port St. Lucie, Florida. The Mets defeated the Astros 3-1. (Photo by Rich Schultz/Getty Images) /

What did you notice about the sale of the New York Mets to Steve Cohen?

September 14th, 2020 will be a major day of significance in the story of the New York Mets baseball franchise. On this date, news broke that the Mets and billionaire Steve Cohen have officially reached a purchase agreement. The move would make Cohen just the sixth principle owner in the history of the Mets.

This news was cause for great joy amongst a fan base who has often lamented the dysfunction, lack of success, and penny-pinching of current owners Fred and Jeff Wilpon. Many fans in New York would even go as far as to quickly nominate the Wilpons as the worst owners in American professional sports.

While we all, as fans, eagerly await for confirmation of the Cohen purchase and fantasize about how the change will positively impact our favorite team, there are three brief observations I’d like to share:

Observation #1: Cohen will become the richest owner in MLB

Much has been made of this point. But let that fact sink in for a moment. The New York Mets, a team with a reputation on behaving like a small market team despite playing in the biggest sports city in the country, will now have the capital to rival the sports’ financial elite. More than the Red Sox. More than the Dodgers. More than even the cross-town Yankees.

This will be a complete change of pace for the Mets. The team has spent many of the past seasons with little to no chance of adding top free agents.

For the first time in recent memory, the franchise has a real opportunity to be competitive in all facets of the game. While we don’t yet know Cohen’s plans, the potential is a beautiful thing.

ATLANTA, GA – AUGUST 15: A detail view of New York Mets socks are seen during the game against the Atlanta Braves at SunTrust Park on August 15, 2019 in Atlanta, Georgia. (Photo by Carmen Mandato/Getty Images)
ATLANTA, GA – AUGUST 15: A detail view of New York Mets socks are seen during the game against the Atlanta Braves at SunTrust Park on August 15, 2019 in Atlanta, Georgia. (Photo by Carmen Mandato/Getty Images) /

Observation #2: Cohen’s group has leaked very little information

This leads me to my next observation. This is the second time that Cohen has surfaced as a major player to purchase the Mets. Twice, the idea of a rare change in ownership has occurred surrounding a major franchise in the midst of the New York media.

And yet, how much do we really know about the details? Cohen and company have kept the important information surprisingly quiet considering the circumstances. At no point has information been released without their approval. This is a breath of fresh air following an administration famous for their dysfunction.

We also don’t have any idea what Cohen is thinking in terms of baseball. He has yet to divulge any information concerning his plans for the franchise, vision, spending exceptions, front office or coaching changes, etc.

It can be assumed that Cohen has plenty of connections in the baseball world. He may also be interested in making changes and implementing “his people” in key roles. Yet, he has kept these details private throughout the process thus far. When you look at the best sports owners, a defining trait seems to be an absence of boisterous public opinions and meddling. Many top individuals are largely faceless and even nameless in the minds of the average sports fan. Their focus is on their business, building a healthy culture, and setting their franchises up for maximum success.

An owner with the ability to limit leaks, speak strategically, and control information is something most Mets fans will sign up for in a heartbeat. I certainly know I would!

NEW YORK, NY – AUGUST 29: Mr. Met performs during a game between the New York Mets and Chicago Cubs at Citi Field on August 29, 2019 in New York City. (Photo by Rich Schultz/Getty Images)
NEW YORK, NY – AUGUST 29: Mr. Met performs during a game between the New York Mets and Chicago Cubs at Citi Field on August 29, 2019 in New York City. (Photo by Rich Schultz/Getty Images) /

Observation #3: Ownership vetoes are very rare

The news that Cohen and the Wilpon’s ownership group have agreed to a sale is a major hurdle. In fact, considering the state of the last round of negotiations, it was likely the biggest challenge. There is, however, one other major event that must take place for the sale to become official: a vote by the 29 remaining owners.

The sale to Cohen must be approved by 22 of the 29 other owners for the deal to become official. Fans who know the Mets history of disappointment are likely still afraid something will occur between now and that point.

However, it should be known that a curveball at this point in the process would be quite rare. At this stage, the vote should be considered more of a formality than a concern.

There is some precedent for a sale being denied during an ownership change. The last occurrence was in 2012 when Jeff Moorad attempted to purchase the San Diego Padres, but was voted down by owners. However, there were a number of extenuating factors that are not concerns in the case of the Mets.

One can also be certain that MLB commissioner Rob Manfred has some handle on the situation for it to reach this stage. A sale falling through without just cause in the eleventh hour would be a stain on the league as a whole. It would be shocking if the vote did not easily pass.

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Nothing is official until after the vote, but there is very little reason to fear.

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