The Mets are in the process of being sold by the Wilpons to hedge-fund billionaire Steve Cohen. Beyond the seismic significance of that development, there are a number of smaller but pivotal questions. Here are a few — plus the answers:

Q: So what’s going to happen to SNY? Will Cohen own that as well?

A: He will not. The network is not part of the purchase, so the Wilpons will retain control of SNY. That’s surprising, because it’s a huge revenue generator Cohen won’t have as part of his takeover.

Q: Will the Wilpons really be running the Mets until 2025?

Yes and no. In terms of technically remaining owners, the Wilpons will still run the organization, perhaps even for the five years stated in the press release. But Cohen must now approve, at minimum, all major allocations and, more importantly, can control the budget and decide to spend considerably more on payroll.

Q: By the way, where is Saul Katz in all of this? Why doesn’t he just take over ownership from the Wilpons?

A: It wasn’t going to happen. Katz and his family had no interest in owning the team and wanted out of the business.

Q: Cohen seems to have some questionable business history. Does MLB have any concerns about him taking over as the Mets’ controlling owner?

A: Cohen was already approved by MLB as a minority owner. MLB will still need to approve him as majority owner — he requires 75 percent of the league’s owners to vote yes. It’s not a guarantee he’ll be approved, though it’s likely.

Q: Cohen obviously didn’t hire Brodie Van Wagenen. What could this sale mean for the Mets GM?

A: If the clock is ticking on the Wilpons now, it might also be ticking on Van Wagenen. He has a close relationship with Jeff Wilpon, but now that relationship becomes less important. It’s unknown how Cohen feels about Van Wagenen, but he certainly better win because his personal ties probably won’t save him.



Source link