While free agents are signing left and right elsewhere, the offseason Hot Stove officially heated up in Queens with bombshell news that the Wilpons are selling off their majority stake in the team.
BREAKING: The Sterling Partners and Steve Cohen are negotiating an agreement in which Cohen would increase his investment in the #Mets, per source. Fred Wilpon will remain Control Person and CEO for five years and Jeff Wilpon will remain COO for five-year period as well.— Ken Rosenthal (@Ken_Rosenthal) December 4, 2019
But wait, there’s more!
According to a report from Bloomberg, the Wilpons are in talks to sell 80% of the team to billionaire Steve Cohen, who is already an investor in the club. It was added that Fred Wilpon is interested in selling controlling interest of the team as part of an estate and philanthropic planning.
Joel Sherman would add that there was bound to be a succession issue when Fred and Saul Katz were ready to step down, thus further explaining the extended sale process to hold onto the Mets for a few years longer.
While it's still way too early to understand what all this means and how it will exactly pan out, it seems like a big change is on the way.
The takeaway? Christmas just came early for fans who have been eager for a change in ownership. Even if they have to wait 5 more years.
P.S. Does this news make Tiki Barber the new go-to Mets insider? He said this was coming on the radio Tuesday and no one took him seriously.
Tiki Barber saying the Mets are getting sold? WTF??? pic.twitter.com/nWwLnJ02fv— GC (@gc_rma) December 4, 2019