Steve Cohen's $ 2.6 billion offer to buy the Mets is life-supporting – if it lives at all. Negotiations on the deal only became public two months ago. Here's a look at the timeline:
2012: Cohen, a billionaire hedge fund manager who is a Mets fan on Long Island, becomes a minority owner on the team.
December 4, 2019: The Mets issue a statement recognizing that Sterling Partners is negotiating the sale of a majority stake in Cohen. According to the agreement, Cohen (according to Forbes with an estimated net worth of $ 13.6 billion) would receive up to 80 percent of the team. The deal would allow Fred Wilpon to remain five years as CEO and Jeff Wilpon as COO.
December 11, 2019: At the winter meetings in San Diego, Commissioner Rob Manfred said Sterling Partners had followed the correct protocols for a possible sale to Cohen. And Manfred says he doesn't expect a power struggle.
"We have had situations where, especially in cases like this, the one who owns more is not the actual controller for a certain period of time," said Manfred. “Steve Cohen and Fred Wilpon have known each other for a long time. Steve has been part of the club for a long time.
“I don't expect there to be governance issues related to the plan they have for the Mets transition. It is a fairly standard transaction in terms of the path to control and the transition. "
December 23, 2019: Hall of Famer Reggie Jackson tells The Post that Cohen – with whom he has already spoken about starting an ownership group – will take the Mets to another stratosphere.
"The Mets got involved with Bernie Madoff and had financial problems. If you want to compete in New York, you have to be able to issue a big check," said Jackson.
Tuesday: Cohen's negotiations to buy the Mets seem dead or close. The Post reports that Cohen is dissatisfied with the Wilpons because they changed the terms of the contract late.