New York Mets chief operating officer Jeff Wilpon broke his silence regarding the failed transaction that would have made Steve Cohen the franchise’s new owner.
He didn’t divulge much, though.
As spring training begins, on behalf of ownership, we would like to share more information explaining why the proposed transaction has ended, however due to confidentiality and non-disclosure agreements we are unable to do so at this time. So right now, I believe we need to focus on the future and not in the past and that’s what we intend to do. We would like to assure our fans that we will continue our commitment to winning in 2020 and beyond and we’ll work hard to earn and maintain everyone’s confidence and trust. We’ll be moving forward to find a new transaction. We will not be giving details or updates on the timeline or process until we are prepared to make a public announcement. Thank you, that’s all I can say now.”
Jeff and his father, Fred, saw their potential sale of the Mets to the hedge-fund-managing billionaire Cohen fall through last week. The 63-year-old Long Island native — who owns an 8% minority share in the club — was going to purchase 80% of the team for $2.6 billion.
Things went south in the negotiating process when a source told amNewYork Metro last week that Cohen balked at the Wilpons’ demands, which included Jeff remaining as the final decision maker for five years despite Cohen pouring his funds into the team.
The Wilpons will continue to search for a potential buyer with one key amendment.
According to Bloomberg, there will be no preconditions attached to the sale of the Mets, meaning a new potential owner can take control immediately rather than deal with a Wilpon-instituted phase-out period.