Steve Cohen's big NY Mets free agent signing decisive blow to "Coupon" Wilpon era

“I don’t know how many teams have two $30 million players,” Jeff Wilpon famously said in 2019, in response to why the New York Mets didn’t go after free agents Bryce Harper and Manny Machado. The Mets already had Yoenis Cespedes, went their logic, which was enough, and therefore didn’t need to pay for any of these young available superstars. 

Prior to 2009, the Wilpon family, longtime owners of the Mets, spent lavishly on their roster and were major players in the talent acquisition market. However, that all changed in the fallout of the Bernie Madoff scandal, which put financial constraints on their operation to run the Mets in the 2010s.

In 1998, the Mets signed newly acquired Mike Piazza to a 7-year, $91 million contract, the largest in MLB history at the time. In the early 2000s, the Mets were involved in acquiring superstars Ken Griffey Jr. and Alex Rodriguez, despite failing in those efforts. In the 2004 offseason, the Mets signed Pedro Martinez to a 4-year $53 million deal and Carlos Beltran for 7-years and $119 million. In 2008, they traded for Johan Santana and signed him to a 5-year, $137.5 contract. When the best players in the league were made available, the Mets were in the conversation.

However, the Mets operated much more conservatively in the 2010s. Outside of David Wright’s 8-year, $138 million extension, Yoenis Cespedes’ 4-year, $110 million extension, and Jacob deGrom's 5-year, $137.5 million extension, the Mets largest contract handed out was Curtis Granderson’s 4-year, $60 million deal. The Mets were no longer a destination for the league’s best available players.

The Wilpon owned Mets were not a destination. Now Cohen's Mets are the hottest ticket in town.

So after 2018, with the core from the Mets 2015 World Series appearance still intact, their window was still open, yet rapidly closing. With generational talents Bryce Harper and Manny Machado unsigned going into January 2019, the Wilpons frustratingly refused to even try to go after them. Because of the Mets inaction, Bryce Harper joined the Mets division rival Phillies, and has wreaked havoc on the Mets for the last half a decade since. Machado joined the Padres, who eliminated the Mets from the Wild Card round in the 2022 playoffs. 

The Mets were getting outspent by their National League rivals, and it was causing long term consequences to their ability to compete. Since 2009, the Mets have won their division one time (2015). They’ve finished below .500 eleven times in that period. The 2009-2020 window of Mets history was one of austerity and cost cutting, with a poor product on the field and “Sell The Team” chants from the fans in the bleachers.

The Wilpon’s wasted their 2015 WS team window by not supplementing their young core with elite talent in the back half of the 2010s. Regardless, the MLB appeared to be content with the Wilpon’s ownership, despite the poor product on the field and Mets fans increasing calls for new owners. It seemed like the Mets were stuck in Wilpon mediocrity forever.

But, the dam finally burst, and the Wilpon’s sold the Mets following the 2020 season. Steve Cohen, who already had an 8% ownership in the team, became the sole owner of the club, and freed the Mets from the Wilpon bargain bin. 

Cohen immediately acquired superstar Francisco Lindor, and signed him for a 10-year and $341 million contract. This was a signal to the rest of the league- the Mets were no longer going to excuse themselves from acquiring the best players. The “Coupon” Mets were over- if Cohen wanted someone, he’ll offer whatever money is necessary to get his guy.

When the Yankees acquired Juan Soto in the 2023 offseason, they became the frontrunners to sign Soto when he hit free agency in 2024. After Soto and Aaron Judge had a “Babe Ruth and Lou Gerhig” season and a trip to the World Series, the Yankees were well positioned to demonstrate to Soto their desirability.

And yet, Soto still joined the Mets. Obviously it was about the money, but it was more than that. A difference of tens of millions don’t matter as much when we are in the scale of hundreds of millions. Soto picked the Mets over the Yankees because he must believe in the long term direction of the Mets franchise, the team’s financial resources, and their desire to be perennial winners.

The Mets are no longer that Wilpon owned-team shopping the sale rack every offseason. The Cohen Mets shop at the luxury stores that give you champagne while you browse. The Mets are a destination for the league's best players again. The rest of the MLB has been put on notice- the teams better be careful, or else the Mets might take their best player.

Hey, Jeff Wilpon- the Mets now have two $30 Million dollar players.