New York Mets: Steve Cohen’s bid is approved by Major League Baseball’s Ownership Committee

New York Mets

The New York Mets are about to enter a new era. Fans are excited at the prospect of Steve Cohen, a lifelong fan of the team with deep pockets, taking over the team and making it a competitive, perennial contender in the National League East division.

According to a recent report from Scott Soshnick and Barry M. Bloom of Sportico, Cohen’s bid to acquire the New York Mets was approved by Major League Baseball’s Ownership Committee.

Before you jump into any conclusions, the development doesn’t mean that the takeover is complete and Cohen is already the Mets’ owner. However, it is a sign that everything is moving in the right direction and there haven’t been, so far, any significant roadblocks in the process.

What is separating Cohen and the Mets?

The next step should be a review by the commissioner’s Executive Council, and then, a voting process by MLB owners. The expectation is that the latter will take place shortly after the World Series finalizes.

To be claimed as the Mets’ owner, Cohen will need at least 23 votes. Although the process probably won’t happen in a unanimous way, the expectation is that he comfortably gets the needed votes to fulfill his lifelong dream.

The fact that Cohen already announced Sandy Alderson as the team president in case of taking over the Mets should help his chances of securing the needed votes. Alderson was the general manager from 2010 to 2018 and is well-respected around the league.

Cohen, a known hedge fund personality with a net worth of $14 billion, agreed to purchase the Mets for a record $2.42 billion bid to the Wilpon and Katz families. In the process, he beat other groups and associations interested in buying the club, most notably the Harris – Blitzer pairing and the Alex Rodriguez and Jennifer Lopez – led group.