Photo: NY Times
Joe Pantorno of AM New York reports that the hurdle keeping Steve Cohen from buying the team is the Wilpon’s insistence of staying in charge of the team for the first five years of the deal.
Jeff and Fred Wilpon apparently were hoping to keep decision-making power of the team for five years while using Cohen’s money to help finance the franchise during that time.
It was first reported on Tuesday that the deal had hit a snag and that the $2.6 billion agreement to own 80% of the team after 2024 was unlikely to come to fruition.
Pantorno notes that if this deal doesn’t happen, Cohen is likely to remain a minority owner of the team.
