Posts Tagged ‘Steve Cohen’

Expect the Mets to back up the Brink trucks in free agency for the first time in club history this winter. (Photo via NY Post).

With new owner Steve Cohen taking over the New York Mets, it’s obvious to say big changes are coming. Instead of hoping the Mets solve a hole or two like they have the last few winters, huge expectations are here right now to become an instant, perennial contender. It’s okay to dream big Mets fans, as Cohen has discussed upping payroll and investing in not just players but more analytics and front office personnel.

The Dodgers got new ownership in 2012 who drastically improved not just the roster but the entire organization. The franchise hasn’t missed the playoffs since. Cohen mentioned during his press conference while he wants to do things his own Met way, the Dodgers certainly are an organization that should be emulated.

Below should be the Mets offseason wish list that makes them an instant contender. While this list would have been fantasyland just a year ago, it certainly seems realistic based off of Cohen’s comments about reinvesting into the team.

  1. Sign Trevor Bauer

Trevor Bauer is clearly the top pitcher on the market and its already clear there is mutual interest between the Mets and Bauer. Sandy Alderson on WFAN last week described Bauer’s unique personality as something that could be a welcome addition to NY. Alderson brought up how baseball is an entertainment industry first and foremost. Bauer is a very intelligent pitcher who Alderson said could help the Mets out with new ideas when it comes to pitching.

Bauer has also made it clear he would have interest in pitching for the Mets. Bauer put up a YouTube clip which was around 15 minutes of praising Steve Cohen’s press conference and social media approach to addressing the fans. The title of Bauer’s video is “Steve Cohen’s BRILLIANT start”.

The main question with Bauer isn’t how his personality will fit in a major market like New York but what will be his price tag? Bauer has said in the past he will take one-year deals to maximize his future earnings but based on the season he just had, that seems unlikely. Bauer has been inconsistent in his Major League career but finished his ninth MLB season on a high note with a Cy Young award and a 1.73 ERA. Top of the rotation pitching is in short supply so even in this depressed free agent market, Bauer will be paid like an ace. While the timing couldn’t be any better for Bauer’s free agency, he’s not exactly a consistent ace. Look at his ERA each of the last four seasons, 4.19, 2.21, 4.48 and 1.73. Across those four seasons, Bauer has a 3.46 ERA, a good pitcher but not the elite ace that he’ll be paid as.

Bauer has often expressed an interest in signing one-year deals every year to always pitch for a contender. Plus there’s this bet … Will Trevor Bauer hold up his side of the bet with his best friend about signing a multi-year deal?

Despite the small-sample size, is it possible Bauer figured something out this season? While his Cy Young season was just 11 starts, 100 strikeouts in 73 innings is far from a fluke. The upside is certainly there for Bauer to perform similarly in future seasons.

A rotation of Jacob deGrom, Bauer, Marcus Stroman, David Peterson and eventually (hopefully) Noah Syndergaard is the type of rotation that gets into the playoffs and has a legit chance at a championship.

The last time the Mets got to the World Series was based on their pitching. Signing Trevor Bauer is the first step in solidifying a rotation that desperately needs top of the rotation help.

2. Sign George Springer

While the Houston Astros have already re-signed Yuli Gurriel and have shown interest in bringing back Michael Brantley, there has been very little reporting that the Astros will spend the big dollars necessary to retain George Springer.

George Springer is the two-way centerfielder the Mets have been lacking since trading Carlos Beltran away nearly a decade ago.

There is certainly concern about how good the Astros hitters are after the sign-stealing scandal, but Springer didn’t regress much this season (.265/.359/.540 in 222 PAs). What also makes Springer special is he’s been one of the better postseason hitters over the last decade with 18 home runs and a .925 OPS over his last 56 playoff games. Springer is 31 so the question is how will his centerfield defense decline as he gets into his mid-30’s. The hope is the Mets can sign him to a five-year contract and find a new center fielder in year three or four, moving Springer into a corner at that time. Like Bauer, there really isn’t an adequate replacement at his position if the Mets choose elsewhere on the free agent market. The next best centerfielder on the open market is 30-year-old Jackie Bradley Jr. who is a career .239/.321/.412 hitter, pass. As Springer went, so did the Astros and the hope would be he could do the same for what could be a special Met lineup.

George Springer’s infectious energy at the top of the Houston lineup has led to countless comeback Astros victories. (Photo via Houston Chronicle).

Expect the Mets to land a big hitter in free agency, they’ve already shown interest in Marcell Ozuna. Ozuna is a big bat but the Mets need a center fielder, not another LF/DH type at the moment.

3. Extend Michael Conforto

Michael Conforto had a breakout 2020 and it makes a lot of sense to see if the Scott Boras client would consider a long-term extension before he hits free agency. Conforto will get a decent raise in arbitration on his $8 million 2020 salary. Could an extension similar to Justin Upton’s five-year, $106 million contract with the Angels make sense for the Mets? Upton had more MLB experience than Conforto when he signed his deal but since that deal is a few years old, (factoring in inflation) this could make some sense. An outfield duo for most of the decade of Springer and Conforto could be special offensively.

From August 5th, 2020: Steven Inman discusses why this is the right time to extend Michael Conforto.

It makes a lot of sense for the Mets to also look at some of their other position players as candidates for long term extensions. The sooner the Mets lock those young players up such as Jeff McNeil, Dominic Smith and Pete Alonso, the cheaper they will be long term. Conforto is looking at $100 plus million because the Mets didn’t explore this possibility when signs of the breakout were appearing. Again, it takes two to tango and Boras may apt for Conforto to hit free agency but Boras clients have signed extension close to free agency before, such as Stephen Strasburg and Jered Weaver.

4. Resist the temptation to trade for Francisco Lindor

You just bought your hometown franchise and the fanbase looks at you like the savior. I bet it’s awfully tempting to make that franchise-altering move and acquire a superstar, middle of the diamond player to immediately put your stamp on the team. Cohen and the Mets need to resist that temptation and let him get traded elsewhere.

Francisco Lindor is in the final year of arbitration and will become a free agent in 2021. This means a team isn’t just paying the Indians prospects but also in terms of a close to $300 million dollar contract. Lindor is likely worth that money as a dynamic shortstop and middle of the order bat but the Mets have spent most of their prospect depth over the last two years under Brodie Van Wagenen. This means the Mets will likely have to include big league talent in the deal for Lindor. Speculation has come up this could mean Andres Gimenez and more importantly Jeff McNeil. McNeil is a career .319/.383/.501 hitter in three seasons as a Met. The sample size is large enough now to show that he’s no fluke and I can’t imagine trading him as part of a bigger package for a rental player, no matter how good Lindor is. Now maybe the asking price on Lindor decreases as the winter goes on and we can discuss this idea further but that is unlikely.

The trade for Lindor now supporters compare this to the Mookie Betts trade, where Betts signed long term in LA, won a World Series and never reached free agency. Yes, the same thing could happen to Lindor on his new team as well. Having said that, there are plenty of 2021 All-Star shortstop options available for the Mets in a year besides Lindor such as Corey Seager, Trevor Story, Javier Baez & Carlos Correa. It is likely that a couple of them could sign long term deals before they hit free agency. With that said, the odds that none of them hit the open market is remote at best. Sandy Alderson has acknowledged that the upper levels of the minors are barren. Amed Rosario and Gimenez can handle shortstop and the No. 9 spot in the lineup for a year (assuming the DH is back again because why wouldn’t it be) and then the Mets can make shortstop a top priority in a year if neither of those homegrown players show they can handle the full-time role.

5. Finally fix the bullpen

Death, taxes and the New York Mets bullpen underachieving are the only things certain in this world but with a new owner comes new possibilities. Could one of these possibilities be the Mets finally fixing their bullpen? Absolutely and this is a great winter to try it.

The Indians declined a relatively cheap club option on closer Brad Hand and shockingly no team in baseball claimed him. Hand, 30, has a 2.70 ERA and a 1.07 WHIP over his last five seasons as one of the more underrated bullpen weapons in the game. The entire baseball industry decided he wasn’t worth picking up for a $10 million 2021 salary and he went unclaimed. This means if you are one of the few franchises willing to spend this winter, not only can you revamp your roster, but you can also get really great bargains too.

Hand should be considered, as should Athletics closer Liam Hendriks, as the free agent struck out 161 in 110.1 innings over his last two seasons in Oakland. Certainly don’t expect the small market A’s to spend wildly in free agency. Expect the Brewers to dangle dynamic closer Josh Hader in trade discussions again this winter as he gets pricier but with so many interesting free agent options, the Mets should preserve their prospects. The Mets should also move Seth Lugo back to the bullpen where he’s at his best. It’s been made very clear that he reportedly prefers to start but he’s just such an impact pitcher out of the bullpen, it makes too much sense to move him back to relief for good. The Mets could find a middle of the rotation starter like Charlie Morton or Jake Odorizzi on a one-year deal to fill Lugo’s rotation spot. By acquiring one or even both of Hendriks and Hand and moving Seth Lugo back to the bullpen, the Mets have the makings of a great bullpen. Not only are Lugo, Hand & Hendriks great relievers, but they all have experience in a variety of bullpen roles. The Mets must get bullpen insurance in case Edwin Diaz blows up again.

6. Sign James McCann

While J.T. Realmuto is the best catcher in baseball and available on the free agent market, it’s scary to commit 100+ million to a catcher who will be 30 before Opening Day. Has a large, long-term contract for a catcher ever worked out for a team before? Buster Posey and Joe Mauer were being transitioned to first base long before the final years of their contracts (Posey is still owed $22.177,778 in the final guaranteed year in his contract in 2021). The Blue Jays last year paid $16.4 million to get the Dodgers to take the final year of Russell Martin’s contract off their hands.

It makes much more sense to make catcher a year-to-year position because it’s just so taxing. Willson Contreras would be the perfect fit but it’s unclear what the Cubs would want for him (it would take a big haul). Veteran James McCann is the best solution here as he is a solid defensive catcher who has learned how to hit big league pitching in his two seasons with the White Sox, slashing .276/.334/.474 across 587 plate appearances. McCann is hardly a star catcher but he’s solid enough to drive in some runs batting eighth, while more importantly handling a very good pitching staff. McCann could likely be had on a two-year $26 million contract. The money the Mets are saving on his deal compared to signing Realmuto is going towards Bauer & Springer’s large contracts.

Again, this is the Mets offseason “wish list” meaning if they fall short of doing all of these things, it’s far from a disaster. Having said that, there is no reason not to expect an eventful offseason where many of these things listed above could happen.

Now it’s your turn. Leave in the comments below your Mets offseason wish list. Let’s Go Mets!

Steve Cohen

Will attempt No. 2 get Steve Cohen his beloved Mets? (Photo via Fox Business).

If you ask New York Mets fans, they would tell you the club’s biggest issue over the past two decades has been ownership. Despite playing in New York, the team has spent like a mid-market club, especially in recent seasons. In 2018, they ranked 12th in total payroll and in 2019 they ranked 13th. Owners Fred and Jeff Wilpon have owned a majority stake in the Mets since 2003. The duo has alienated fans due to their nature of reportedly meddling in day-to-day operations of the club. Fans would likely be less bothered by this if the Mets had any World Series championships under their belt since 1986.

An executive familiar with the Mets said the following about Jeff, who is more involved in the day-to-day operations currently of the Mets than his father Fred, “Jeff is the problem in that organization, and he is never going to realize that. He cannot help himself. He has to be involved. He will never hire anyone who will not let him have major input. He will not hire anyone who does not run every personnel decision through him.

Things only got worse under the Wilpons after the Bernie Madoff Ponzi scheme scandal. The owners lost a fortune when Madoff was arrested and lost even more when they were sued by Irving Picard, a lawyer at the firm Baker & Hostetler. Picard was in charge of salvaging assets to compensate Madoff’s victims. Picard was aware that the Wilpons received large financial gains from what was perceived to be legitimate dividends from Madoff.

As the game of baseball has seen salaries rocket over the last decade with rising television contracts, the Mets have had payrolls in the same range. The team never spent like their crosstown rivals, the New York Yankees, but it is puzzling to see a team in New York not in the top 5-10 teams in baseball in player salaries.

Mets 2020 payroll

Even the players the Mets have invested significant dollars in over the past few seasons such as Robinson Cano, Yoenis Cespedes, Jeurys Familia and Jed Lowrie have all been unable to stay on the field due to injury over the last few seasons. (Photo via Baseball Reference).

Enter Steve Cohen

There have been various reports over the last few years that the Wilpons are in massive debt and may not be able to hold onto the team much longer. In December of 2019, the Wilpons surprisingly announced they would sell majority shares of the team to minority owner Steve Cohen. Cohen would go from owning eight percent of the team to 80 percent in a deal valued at $2.6 billion. Cohen, a lifelong Mets fan would take over the franchise from the Wilpons after a five-year waiting period, but the cash was expected immediately. After the agreement, Cohen believed he could get the Wilpons out ahead of schedule since he would be the one spending the money. The deal fell apart in February 2020 over the five-year waiting period. There was also talk that Cohen wanted the Mets lucrative cable network, SNY, as part of the deal. The Wilpons announced they would begin looking for a new deal with the hopes of selling at least a portion of the team by the end of 2020.

Major League Baseball ranked by revenue in 2019

In 2019, the Mets spent money like a mid-market team and as a result, the 2019 revenue was equivalent to a mid-market team. (Photo via Statista).

According to people familiar with the Mets finances, the Mets annually lose $50 million a season, due to declining attendance numbers and $50 million in annual payments used to finance the construction of Citi Field. The Wilpons have been able to stay afloat so far because SNY reportedly brings in $150 million per season. It remains to be seen whether the Wilpons will be able to sell the team that loses money without giving up the cash cow SNY.

One reason a potential new owner may be comfortable purchasing the team without the cable network included, SNY only reportedly owns the Mets media rights until 2030. It’s possible a new owner would create a new network or sell the rights to broadcast games to an existing network at that time.

Despite all of the debt the Mets currently have, there have been numerous candidates interested in buying the team, even if the Wilpons maintain that SNY will not be part of the deal. After a first-round bidding that knocked out a few candidates, three groups have emerged in the next round of bidding. The second round of bidding involves each group looking through the team’s financial books before final offers are submitted, likely next month. Of course, a mystery candidate could always step in and make a large offer but at this moment, there are three groups involved.

The candidates: Steve Cohen

Despite a messy falling out in February, Cohen is reportedly back in the race to buy the club and is the favorite due to his deep pockets and lifelong love of the franchise. Another advantage Cohen has is as a current minority owner, he can see the bids that come in. That means Cohen knows exactly how much he needs to bid to win the team over the other candidates. It has been reported that Cohen’s second bid for the Mets was $2 billion for the team and another $2 billion for SNY.

While Cohen is clearly the fan’s choice, it’s not an easy decision. Cohen has had legal trouble in the past with insider trading. Cohen’s company Point72 was sued by a current employee claiming sexual harassment and pay discrimination based on gender.

Alex Rodriguez, Jennifer Lopez and friends

While Alex Rodriguez is the only candidate with a baseball pedigree, it remains to be seen if his group has the money to actually win the bid. Rodriguez has already gotten his wealthy celebrity finance Jennifer Lopez, Florida Panthers owner Vincent Viola and BodyArmour founder Mike Repole involved. Like Cohen, Repole is a huge Mets fan from Long Island. Rodriguez has also recruited star athletes like Washington Wizards guard Bradley Beal and Kansas City Chiefs tight end Travis Kelce. The issue is for Rodriguez to remain as the control person (baseball requires every group have one go-to control person), he likely needs to put up the most money amongst the group. Rodriguez continues to add new money to his bid through new investors, reportedly recently asking New England Patriots owner Robert Kraft for an investment. Kraft is interested in redeveloping the land outside of Citi Field to make it a haven for baseball fans, similar to what goes on near Gillette Stadium on Patriots game days. Having said that, the big question here is will the 29 other baseball owners approve of such a large group?

Josh Harris and David Blitzer

Josh Harris and David Blitzer already own the Philadelphia 76ers and New Jersey Devils. The thought here is during the coronavirus pandemic, the team may be available at a discount compared to the $2.6 billion bid Cohen placed last year. Harris and Blitzer are known as bargain hunters, acquiring both the Sixers and Devils as distressed assets in serious debt. It remains to be seen if they are willing to get into a bidding war with Cohen.

The remaining questions

While the Wilpons will decide which bid they want to go forward with, MLB commissioner Rob Manfred will also have a major say, as will the other 29 MLB owners who will have to vote the new Mets owner in. After an ugly war with the players this spring over salaries and number of games during this shortened 2020 season, owners are reportedly concerned over Cohen coming in and spending a lot of money on players. As more and more players have been left out in the cold during the recent MLB hot stove seasons, tensions between both sides are high. Cohen coming in and spending big money on free agents and driving prices up, right before the 2021 CBA expires is something that concerns both Manfred and the other owners. Still, during a pandemic, it is likely the other owners and Manfred would want the largest bid to take the team, propping up the values of the other MLB franchises. Picture3

The fans

99 percent of Met fans are salivating at the idea of Cohen coming into Queens and turning the Mets into the New York Yankees. Cohen is not just expected to spend big on players but enhance the team’s analytic and scouting departments.

The Wilpons

After a messy disagreement between the Wilpons and Cohen, the Wilpons reportedly would prefer to sell to another bidder if the bids are close. This time around, the Wilpon’s financial situation is even murkier after having a season without fans at Citi Field. It is expected that the five-year waiting period goes away and the Wilpons will depart the organization after the sale is completed.

It seems pretty clear that if one bid is significantly larger than the others then that bidder will win the team. Having said that, what if the bids are all really close together? In this strange financial time, it remains to be seen if Cohen will simply outbid the other candidates by several hundred million like fans are hoping.

Who will end up owning the Mets in 2021?