Mets Steve Cohen Deal Reportedly 'Dead' and Franchise Could Be Auctioned

The New York Mets were all set to be sold to Steve Cohen. The process was supposed to take place over the next few years and the multi-billionaire would replace the Wilpon family that fans despise so much.

That is no longer the case. Cohen has backed out of the deal and now the Mets are once again seeking new owners as the agreement is reportedly dead.

Mets deal is dead, completely kaput. MLB doesn’t blame the Mets, who are expected to open up the sale in a more typical auction now. Also, after what happened here, belief is Stevie Cohen, despite his reported $13B, will have trouble ever buying any team.
— Jon Heyman (@JonHeyman) February 7, 2020

There are two important things to take from this news. The first is that the Mets are still going to be up for sale. It is just taking place in a traditional auction fashion. That creates some mystery for fans who may have been excited about Cohen and his massive fortune taking over.

I can confirm NY Post story that hedge fund titan Steve Cohen has ended negotiations to buy the NY Mets. Cohen and Wilpons would not confirm directly citing NDA but numerous sources close to the process and Cohen tell me Wilpons tried to retrade deal and he is walking.
— David Faber (@davidfaber) February 4, 2020

The other bit of news is that Cohen could have trouble buying another franchise. However, he has an argument to make if the Wilpons did indeed try to change the terms of the deal. That is bad business and Cohen had a right to walk away if that is true.

Cohen is officially out and Mets fans are hoping the next potential buyer doesn't get their hopes up, only to leave when change finally seems like a reality.