The Skill Sets are very tight lipped lately about the state of their finances and that of the whole franchise. They’ve gone from wanting to sell 25 % of the team to now going as high as 49 %. Steve Cohen it seems was approached by the Skill Sets last year prior to the Madoff shit hitting the fan and he turn his back on a mere quarter share of the club as it seems he wants to buy the club outright since he’s worth $8 Billion, I guess he thought he could pursued the Skill Sets to accept one of those billion’s plus a little pocket money for the right to be the sole owner of the NY Mets.
Now that the Skill Sets are holding on for dear life to retain ownership and to stay financially solvent the have upped the ante to 49 % of the club for a mere $200 mil and you get the right to sit on the board and have a vote on finances such as players salaries and contracts.
The fact that the Skill Sets have gone from 25% to 49% that they are looking to sell, leads me to believe that the debt on the club is enormous. If Cohen is the guy who gets to buy in I’m sure he is also getting the right to buy the majority share. This would come as great news to Mets fans except Cohen is being looked at by the Feds as part of an insider trading probe. Cohen has not been charges or accused of any wrongdoing in fact he has stated he would not only help any investigation but he’s pay for any cost needed to look at his hedge fund company.
The final say comes from Bid Selig who will have MLB lawyers do a though search and background check on Cohen. Selig has two causes in this sale, the health of the NY National League franchise and his close personal friendship with Freddy Skill Sets.
Hopefully everything works out with Cohen and he gets to spend his money as a partner and gets some much need money invested in this franchise. When you look at all the problems the Mets have it’s not pitching or hitting that are the fans biggest concern. What the majority of Mets fans worry about is the team not having money to compete on the big stage.