Photo: Wall Street Journal

In the latest twist in the saga that has become the unloading of the Mets franchise, Laura Goldman, a former Huffinging Post contributor, reported that billionaire Steve Cohen isn’t ruling out a return to reenter the bidding for the Mets. However, Goldman says that Cohen will only re-enter the bidding when the teams begin to play and will want more immediate control and/or SNY.

Cohen, in February, infamously walked back a 2.6 billion dollar deal that would’ve allowed the Wilpons to partially own the club during the next five seasons. However, with the team still not sold, the value of the club reportedly falling by a billion dollars, and the Wilpons burning through cash, some expected the New York native to reemerge with a bid.

Cohen walked back out of the deal in February due to the Wilpons negotiating in “bad faith” and changing the terms of the agreement late. Cohen also preferred control of SNY, a known cash cow of the Wilpons. However, the Wilpons were unwilling to part with the regional sports network.

With a global pandemic threatening the profits of the Wilpon family, they’re amping up their efforts to unload the Mets. Alex Rodriguez and Jennifer Lopez have long been rumored to buy the team, however, Jeff Wilpon said recently they’re far from the only party to pursue a purchase of the club. Instead, “four-to-five” other suitors are interested in the club, including the current owners of the NBA’s 76er’s as well as a “mystery international bidder.”

The Wilpons’ need for cash has been well-documented with Variety.com hearing that the family is looking into extending their current loan with J.P. Morgan due to the pandemic reducing their projected profits. The debt that the Wilpons are currently paying back for the usage of Citi Field isn’t looking good either; Forbes reported last week that investors are less sure than ever that the family can pay back its debt.

Ammy.com adds that the Wilpons are unlikely to add significant funds to the club’s payroll if they are not able to sell the club by the 2021 season.

With the 2020 season looking uncertain at the point, it’s unclear how long the Wilpons can hold onto the team with at least 800 million dollars in debt holding them down.