Report: Mets Ownership ‘Motivated’ to Sell Club Before End of Year

Peter Morgan/Associated Press

It appears the Wilpons have set an internal deadline to finally sell the New York Mets.   

According to Thornton McEnery and Josh Kosman of the New York Post, the Mets owners “will begin to field first-round bids on the team in July with an eye toward locking in a buyer by Oct. 1,” and bidders are also apparently aware of the timetable. 

“They need to sell the team before the end of the year,” a source told McEnery and Kosman.

So why, after the protracted drama, a sudden deadline?

Per the report, “a source close to the sale pushed back on the idea that the Wilpons' 2020 deadline is a signal of financial desperation, saying a December closing would give any new ownership time to make decisions on payroll and roster changes for the 2021 MLB season.”

That, plus “closing the deal before the end of 2020 also means the new owner would be on the hook for the $44 million in debt payments owed on Citi Field in 2021.”

As for prospective buyers, Josh Harris and David Blitzer, who have ownership stakes in the Philadelphia 76ers and New Jersey Devils, are reportedly offering $1.4 billion to buy the team without the SNY television station attached. 

That would be a pretty big drop-off from a similar deal that fell through with hedge fund billionaire Steve Cohen in February, during which $2.6 billion was reportedly on the table. Add that to the estimated $200 million the team could lose in 2020 due to the shortened season amid the COVID-19 pandemic and the Wilpons could be looking at a lot of money lost. 

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Jennifer Lopez and Alex Rodriguez are also reportedly looking to put together an ownership group to purchase the team.

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