Mets COO Jeff Wilpon released a statement on Monday regarding the ending of negotiations with Steve Cohen and the process of the sale of the team going forward.
"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," Wilpon said. "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 for now."
On Feb. 6, after Cohen announced that his deal to become majority owner had fallen through, Sterling Partners released a statement citing the "highly complicated" transaction they had been attempting with Cohen and adding that Sterling intended to "pursue a new transaction and has engaged Allen & Company to manage that process."
A report last Wednesday in the New York Times shed light on the snag the potential deal had hit. It had been reported last Tuesday that Cohen was close to walking away from the table.
MLB -- non-Mets -- sources with knowledge of the Cohen negotiation said it wasn't the five-year transition of power that was at issue, SNY's Andy Martino reported Thursday, saying that part of the transaction was a done deal in writing months ago.
On Sunday, Bloomberg reported that in the wake of the failed negotiations with Cohen, there would be "no preconditions regarding control of the team" as part of the next attempted sale, meaning whoever becomes majority owner would likely have full control once the sale is complete.
Fred Wilpon has been the majority owner of the Mets since 2002, when he bought out Nelson Doubleday.
Doubleday and Company and Wilpon purchased the Mets from the Payson family in January of 1980.
