Mets 'Cannot Comment' on Rumors Steve Cohen Is Backing Out of Majority Ownership Sale

The Mets issued a statement saying the team can not address the rumors that billionaire Steve Cohen is backing out of an agreement to increase his investment for a majority stake in the team, according to Ken Rosenthal of The Athletic and Jeff Passan of ESPN.

"The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment," the team said in a statement to Rosenthal. 

The rumor stems from Barstool Sports radio host Kevin Clancy, who said on the air that the Cohen deal is dead from “multiple places with somebody who would be trustworthy enough and close enough to the situation.”

MLB Networks' Jon Heyman, reported Thursday that the deal is completely dead and that the team is expected to open the sale up in a more typical auction.

Last month, it was announced that Fred and Jeff Wilson were looking to sell a majority of the team, which they have controlled since 2002, through holding company Sterling Partners. Bloomberg reported that Cohen was looking to acquire up to 80% of the team.

Under the agreement, Fred Wilpon would have remained in the role of Control Person and CEO for five years. Jeff Wilpon would have retained his role as Chief Operating Officer for that time as well. 

Cohen would continue to also work as the CEO and President of Point72 Asset Management.

Cohen has been a Mets minority owner since 2012. The Wilpons have owned a majority stake since 1986 and bought the remaining 50% in 2002.

The Mets are coming off an 86–76 season.

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