New York-based billionaire Steve Cohen purchased a majority stake in the the New York Mets in 2020. At the time of the acquisition, he was expected to usher in a new era of glory for one of the baseball's most storied franchises.
Despite having one of the most developed and loyal fanbases in the MLB, fans of the Mets were starved for success. The team's two preceding owners had failed to do anything to ignite a winning spririt, and to make matters worse, the team had not won a World Series since 1986.
Soon after he took the reigns, Steve Cohen made it clear that his deep-pocketed rep would not be lost on the players. Under Cohen, the New York Mets re-signed infielders Francisco Lindor and Pete Alonso to massive extensions. In late 2021, they signed pitcher Max Scherzer to a record-setting deal worth $43 million per season over three years.
"The Mets and Max Scherzer are finalizing a 3-year, $130M contract, per @JonHeyman" - FOX Sports: MLB
In 2022, the New York Mets had their best season since Steve Cohen took control. Their first 100+ win season since 1988, the team was beat out of the divisional spot on the final day of the season, and had to settle for a Wild Card spot.
After a highly dissapointing exit in the Wild Card round against the San Diego Padres, Cohen and his GM, Billy Eppler, set out to sign even more talent. They inked 2022 Cy Young winner Justin Verlander to a similar deal to Scherzer, and penned closer Edwin Diaz to a 5-year, $102 million deal, despite the fact that the Puerto Rican's season ended after March's World Baseball Classic on account of injury.
Now nursing a record of 30-33, the New York Mets find themselves 8 1/2 games behind the Atlanta Braves for the NL East's the top spot. Their 13-10 loss to the Braves on June 8 marked the first time in the New York Mets' history that they have lost three straight games after leading each by more than three runs.
"If Mets don’t end spiral, what will Steve Cohen do? Column:" - Ken Rosenthal
Fans seem to be at the end of their rope, and fail to see why their team's $359 million payroll is not delivering on-field results. It appears as though Eppler, and then Cohen, will be blamed directly if things fail to get any better.
The New York Mets are proof that money cannot buy wins
As much as the story of the underdog is attractive, it is still sad to see a rich team like the New York Mets falter. Their loyal fanbase has been waiting decades for something to happen, but not on account of lack of funds. Hopefully, Cohen and Eppler will be able to put an end to the bleeding before their jobs are jeopardized.