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How Steve Cohen's ownership could impact New York Mets

Steve Cohen's wealth could help improve the Mets, as he is worth $14.6 billion – Photo by Twitter

On Sept. 14, it was announced that Steve Cohen, a hedge fund manager from Long Island, New York, reached an agreement to purchase the New York Mets.

Cohen tried to acquire the team this past winter but the deal fell through. After months of speculation, Cohen looks to have become the majority owner after having been a minority owner for the past few years.

In a statement released by the Mets, Cohen expressed enthusiasm in becoming the majority owner. “I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said.  

The Wilpon family had been a part of ownership since 1980. Now the sale of the team is the most expensive for a North American professional sports team, at a value of $2.4 billion.

Cohen is valued at $14.6 billion, according to Forbes, which would make him the richest owner in the league. Washington Nationals owner Ted Lerner, worth $4.8 billion, would be the second richest. New York could have the ability to improve given Cohen's wealth.

New ownership could mean a new beginning for the Mets.

In 2015, they lost the World Series. In 2016, they made the National League Wild Card Game, only to lose 3-0 to the San Francisco Giants. Since then, New York has not made the playoffs and has finished in the top three in their division once.

Cohen brings wealth to the Mets and a fresh reputation.

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