Cohen now owns 8% of the team. But, after submitting a $2.6 billion bid in late 2019, according to multiple reports, the Long Island native reduced his offer to $2 billion amid disagreements with the Wilpons over Jeff's future role with the team. As an extremely wealthy owner, it's conceivable that there would be "fear" that Cohen would spend like insane, but (1) I don't know how likely that is, and (2) I don't know that it would scuttle the deal for a guy who is already an 8% owner. That would make it the most paid for an Major League Baseball franchise, topping the $2.15 billion paid for the Los Angeles Dodgers and surrounding real estate. Cohen still needs to receive approval from 23 major-league owners, but one presumes this sale would not have proceeded to this point if that approval remained in doubt. "SNY, the regional sports network part-owned by the club, isn't part of the transaction".
The Wilpon and Katz families have owned at least a portion of the Mets since 1980 and at least 50% since 1986. So when the majority-owning Wilpon Family announced their intentions to sell their majority share of the team back at the beginning of the year, most Mets fans rejoiced.
Cohen had always been considered the favorite to buy the team, given his huge wealth, believed to be over $14 billion, according to Forbes. His primary competition for the team this summer was a group fronted by former baseball superstar Alex Rodriguez and entertainer Jennifer Lopez.