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Report: Steve Cohen buy-in to the Mets is off

May 11, 2011, 11:03 AM EDT

mets logo hat AP

At least I think that’s what this report is saying.  The headline is highly misleading: “Steve Cohen will not buy Mets for $840 million.” Which is fine, but he was never reported to be doing that. He was reported to be buying a stake in the $200 million neighborhood. The post itself seems to be saying that’s off too, however, and if that’s the case, that’s the bigger news.

The rationale — Cohen would prefer control — is something we’ve seen reported before, so it wouldn’t surprise me if the minority-stake sale is off.  I just wish it was put a little more clearly.

  1. BC - May 11, 2011 at 11:14 AM

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    It had to be said.

    • paperlions - May 11, 2011 at 11:18 AM

      No, it didn’t.

      • BC - May 11, 2011 at 11:39 AM

        Yes. Yes it did. We need a no bullbleep owner who is business savvy and doesn’t meddle in baseball operations (and neither does his son). Set the payroll, then spend money off the field in the right places. Besides, he’d shake things up a little.
        I can dream, can’t I?

  2. halladaysbiceps - May 11, 2011 at 11:18 AM

    The Mutts should ask for an additional 100 mil from the prospective shareholder so they can afford to move in the fences an additional 30 feet to help poor David Wright and Jason Bay hit more homeruns.

  3. kopy - May 11, 2011 at 11:21 AM

    The headline is “Steve Cohen Will Not Buy Stake In New York Mets For $840 Million Valuation”. Within the text lies the sentence, “A $200 million investment by Cohen for a 49% stake would have given the team a value of $840 million.”

    I could be wrong too, but basically I think they’re just saying the deal is off, and the deal would have increased the value of the Mets. This is Forbes, which valued the Mets this year at $747 Million, and only seems to care about baseball if they’re talking about how much teams are worth.

  4. sdelmonte - May 11, 2011 at 1:04 PM

    The questions about Cohen’s dealings bother me. I don’t want that added to the Madoff mess, and I suspect that Selig doesn’t either.

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