Mets' Valuation Reportedly Lost a Ton of Money After Steve Cohen's Deal to Buy Team Fell Through
By Andrew Gullotta
Things keep going wrong in the Wilpons' search to sell the Mets.
Per business reporter Darren Rovell, the Mets have been hit particularly hard in recent weeks, amid so much uncertainty. The team is now valued at about $1 billion -- yes, billion with a B -- less than what they were worth 75 days ago, when hedge fund manager Steve Cohen's deal for the team officially fell apart, throwing their future further to the wind.
75 days ago, the Wilpons and Steve Cohen failed to agree to a $2.6 Billion deal to sell the Mets. Today, the team is closer to being worth $1.6 Billion.
— Darren Rovell (@darrenrovell) April 21, 2020
Yes, that $2.6 billion offer by Cohen may be the best offer the Mets' owners get, with the current state of the economy further delaying any movement here.
Don't give up hope, though! With the valuation of the team falling, 14-time All-Star Alex Rodriguez and mega-star Jennifer Lopez, are now throwing their hats into the ring to buy the team. The couple is now raising money to gear up to make an offer for the squad.
Report: A-Rod and J-Lo take a step toward a Mets bid https://t.co/osX6hHKPsO
— Jon Heyman (@JonHeyman) April 20, 2020
This news may be exciting for Mets fans, as they have been screaming for the owners to sell the team for awhile, but the loss in the team's value will infuriate the already-aggrieved Wilpons.
As the Wilpons' ownership of the Amazin's ideally hits its final days, they cannot get out of their own way, which is a narrative that Mets fans are all too familiar with.