'Boomer And Gio': 'Legitimately Shocked' Mets Sale Is In Jeopardy

LISTEN: Steve Cohen Has Reportedly Broke Off Negotiations With Wilpons To Buy Team

Boomer and Gio
February 05, 2020 - 8:43 am

For the past couple of months, Mets fans celebrated — what was thought to be — the impending arrival of Steve Cohen. 

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In December, the Mets said they are negotiating an agreement where Cohen, a hedge fund manager, could increase his ownership stake. The deal, reportedly worth $2.6 billion, seemed inevitable. On Tuesday, the New York Post, however, confirmed a report that Cohen had broken off negotiations with CEO Fred Wilpon and Chief Operating Officer Jeff Wilpon. 

WFAN's Gregg Giannotti was "legitimately shocked" that Cohen's purchase of the team is reportedly in jeopardy. 

"I want to say I'm not surprised because we were so excited about it," Giannotti said Wednesday. "The whole entire Mets fanbase was thrilled this was going on and now it's not going on. And we should just say, 'oh this is the Mets. This is what always happens when you get excited about something and they let you down.' But I am legitimately shocked at this point that this thing isn't going to go through because the way he is so aggressive, all the money that's involved it just seemed like things were falling right into place and now it's not."

There is a chance the two sides return to the table. According to WFAN baseball insider Jon Heyman, Cohen is hopeful the Mets call back to re-negotiate the sale. The Mets released a statement in wake of the rumors indicating that they cannot comment, "the parties are subject to confidentiality obligations, including a mutual non-disclosure agreement."

"I don't understand how stuff like this gets out or why stuff gets out like this," said Giannotti's co-host Boomer Esiason. "Maybe Steve Cohen wanted it out like this. I can't imagine the Mets would want it out. This is maybe a publicity ploy to try and put more pressure on the Mets. When we were talking about that whole five-year plan — Steve Cohen doesn't wait five years for something he wants if he actually truly wants it. He wants to take over the team now, he wants to take over the team now. Maybe that's one of the reasons some of the deal got moved around by the Wilpons. I don't know."

Esiason believes if Cohen, a lifelong Mets fan, really wants to purchase the 80 percent majority stake in the team, he'll "buck up" and "pay for it."

"We all have jumped the gun on this," Esiason said. "It was talked about how this was going be played out over five years and how Jeff (Wilpon) was going to continue to run the team and all that other stuff. You never know why a deal of this magnitude doesn't go through. There (are) a million deals like this that happen, they just don't involve the New York Mets. Now all of the Met fans are certainly disappointed because they thought they were going to have an owner with deep pockets and he was going to go out there and spend the money. Maybe he still will, maybe he wont but until a deal is signed, sealed and delivered, I think we all should be proceeding forward with a level of caution."

There is very little indication to what put an end to the negotiations. According to the New York Post's sources, Cohen walked away from the deal after the Wilpons attempted to change the deal near the final stages. 

"It just seemed like it was on track," Giannotti said. "(MLB Commissioner) Rob Manfred even commented on it — before the Astros scandal whenever he was talking about something people were asking, 'do you expect any snags.' He said no. He expected him to be ratified by the rest of the owners and there weren't going to be any issues. Hearing all of that stuff, why wouldn't we believe that?

"When you buy 80 percent of something and spend that much money, you can't tell that person you can have this thing in five years," Giannotti continued. "Imagine buying a Rolls Royce, spending that money in cash and then saying, 'we'll see you in five years then you can drive it around.'"

Click the audio player above to listen to the open from the "Morning Show with Boomer & Gio" in its entirety. 

Related: Report: Steve Cohen Breaks Off Talks To Buy Mets