According to FOX Business Network’s Senior Correspondent Charles Gasparino, New York Mets owner Steve Cohen is still interested in purchasing the team’s RSN, SNY, from the Wilpon family.
Gasparino said this afternoon on FBN’s The Claman Countdown, “we do understand he is still interested in the other part of the deal, and that’s the Mets’ regional sports network known as SNY.”
“There is a problem with the bidding and here’s what I would tell you, he’s balking over the price,” he added.
Gasparino said the Wilpons are looking for about $1 billion or more for the network. To go along with the price, Cohen is also worried about the fact that the Wilpons have about $800 million in debt and may make him overpay, and the network also features just one sports franchise.
“If you look at the Yankees’ RSN, the YES Network, the have the Yankees, the Brooklyn Nets, I believe they have a soccer team, there’s a few things in there. There’s more than just one team, this is a single team. It’s got some issues, serious debt load,” Gasparino said.
Following the finalization of Cohen purchasing the team from the Wilpons he was given 30 days to make an exclusive bid for the network. Cohen focused on other organizational issues at the time, but certainly still seems interested in getting a deal done at the right price.
The Wilpons rights to the network do not expire until 2030, so they of course could ultimately just wait things out and potentially receive a better offer.
