Report: Mets Worth a Billion Dollars Less Than Previous Sale Price

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Earlier this year, New York Met fans were jilted at the altar when billionaire hedge fund tycoon Steven A. Cohen pulled out of an agreement to buy 80 percent of the team. Cohen was apparently not please with the current owners – Fred Wilpon, his son Jeff and brother-in-law Saul Katz – insisted on taking Cohen’s cash but not relinquishing control of the team for five years.

Can’t blame Cohen for that. There wasn’t much in for him. The team was valued at $2.6 billion and Cohen had agreed to those terms. Now, with Major League Baseball looking at a season in which they are going to take it on chin financially, the team is said to be worth considerably less.



I’m not sure where Rovell got this valuation. I trust him as a reporter but he does not cite the source here. In Forbes’ latest list of MLB team valuations, the Mets are the sixth-most valuable franchise at $2.4 billion.

As for the sale of the Mets, Alex Rodriguez and his fiancee, singer/actress Jennifer Lopez are reportedly mounting an offer to buy the club. They have retained JP Morgan Chase to help raise capital to finance the deal.

If Rovell is correct in his assessment, ARod and Lopez could steal the Mets. The decrease in value could also bring back isome big money players such as Cohen to the table. Then again, the Wilpons are not likely to let the Mets go at $1.6 billion. They will hold out for their price. Sorry, Met fans.

 

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