It’s official. MLB has approved Steve Cohen’s purchase of the New York Mets. It’s the beginning of a new era in Queens.
New York City Mayor Bill de Blasio has also given his seal of approval on the deal. He announced on Twitter that his law department has finished their review and they have no issues with the sale of the team to Steve Cohen.
— Mayor Eric Adams (@NYCMayor) October 30, 2020
This news has been nearly a year in the making. Cohen and the Wilpons originally agreed to a $2.6 billion deal in December 2019. A few months later, the deal fell apart due to a five-year window of control that the Wilpon family requested.
After failing to seal a deal with Cohen, the Wilpons put the team up for auction. Bids came in from C.K. McWhorter, Joshua Harris, and even Alex Rodriguez, but none of them could match up to Cohen.
The lifelong Mets fan was not going to be denied the team. In August 2020, he was able to strike a $2.45 billion deal with the Wilpons and Saul Katz. Still, questions lingered over the approval process due to Cohen’s past. All of that was put to bed Friday afternoon though when the other 29 owners approved the bid.
Cohen immediately becomes the wealthiest owner in MLB and the second-wealthiest owner in American sports. He plans to name Sandy Alderson the team’s President of Baseball Operations.
It’s a new era in Queens — one that is expected to turn the Mets into a perennial contender.