Report: Mets for Sale Without Wilpon Family's 'Preconditions on Control'
The Mets are likely to not run into the same issues again that led to the collapse of their sale to billionaire Steve Cohen last week.
According to Bloomberg, "No preconditions regarding control of the team will be attached to the upcoming sale" of the franchise, allowing a new owner to likely assume control immediately from the Wilpon family.
The report comes after Cohen's attempt to buy a majority stake in the team collapsed last week. It was reported that the Wilpon family changed the terms of the deal late in negotiations. Under the agreement, Fred Wilpon was looking to remain 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.
Last Thursday, Cohen addressed the situation after the deal fell through.
"I'm very disappointed we couldn't work out a deal, but as an 8% hold I'm looking forward to a higher bid for the team," Cohen said in a statement to The New York Times. "I want to thank the fans for their support and the respect they showed me and I want to thank Commissioner Manfred and MLB for their support through the process.
"I gave it my best shot."
The Mets ownership group released a statement on the attempted deal, writing, "The transaction between Sterling and Steve Cohen was a highly complicated one. Despite the efforts of the parties over the past several months, it became apparent that the transaction as contemplated would have been too difficult to execute."
The Wilpons still intend to sell the Mets. The family has owned a majority stake in the team since 1986 and bought the remaining 50% in 2002.
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