Steve Cohen Conspiracy Theories

Look, when bad news comes down the pike, you can fall to pieces, or you can opt to try to have some fun and make the best of it. In light of that, instead of making the soul crushing realization we’re never getting rid of Jeff Wilpon, let’s pretend we’re Mel Gibson and start trying to find the one Conspiracy Theory which fits.

Cohen Would Never Be Approved

As previously noted, Steve Cohen has paid the largest ever fine for insider trading, and his business was sued for gender discrimination. Maybe MLB owners took a straw poll, and with it being known Cohen wouldn’t be approved as a majority owner, this was Cohen’s way of saving face.

MLB Wants The Wilpons In Power

With the Wilpons operating the Mets, MLB doesn’t have to worry about a second New York team escalating player salaries. With the debt of gratitude owed to MLB for not removing them from power the way it did with the McCourts and the Dodgers, they gained an ally who will forever do their bidding.

As an example, the Mets went from standing by Carlos Beltran because what he did with the Astros don’t impact his role as the Mets manager to firing him after meeting with the Commissioner’s Office.

Having that level of control over an owner is valuable for a commissioner. It’s more valuable when it comes from the largest market in the world.

Wilpons Were Orchestrating A Scam

Lost in Cohen buying the Mets we’re reports the Wilpons couldn’t obtain their share of the financing for the Islanders new arena. Before the sale to Cohen was announced, the Mets saw a diminution in value, there were fewer assets as collateral to obtain loans.

That goes double with the Mets carrying hundreds of millions in debt.

Cohen’s purported purchase price valued the Mets at over a billion more than where the Mets had it, which could give the Mets more equity to loan against.

Wilpons Can’t Actually Sell

We don’t know what the structure of the loan agreements the Mets have. We don’t know when certain payments need to be made, and/or what a sale of the Mets would trigger. More than that, we don’t know how much the Wilpons use the Mets to keep them and their business solvent. Maybe as the Wilpons looked at a post-Mets life, they realized they needed the Mets more than the money they could receive for selling the team.

Cohen Saw the Books and Walked Away

There are various rumors surrounding the Wilpons and the Mets dire financial state which they haven’t been able to get under control post-Madoff.

Maybe Cohen saw things were far worse than the $350 million in loans and losses of $120 million over the last two years. Seeing things were much worse than we all knew them to be, he might’ve realized this was actually a terrible investment and walked away.

Cohen Is Negotiating

Cohen isn’t an idiot. As much as he wants the Mets and the tax shelter, he’s not going to let the Wilpons push him around in these negotiations and keep control of a team he’s running.

Rather than cave, he’s walking away from the table leaving the Wilpons, desperate for the money to finally give them solvency, coming back to him and negotiating from a position of weakness instead of strength.

There’s Another Buyer

Cohen purchased the Mets without it really being public knowledge the Wilpons were open to selling the team. Perhaps after seeing the deal, some deeper pockets approached the Wilpons and told them if they could get out of the deal, they’d offer s better deal.

Wilpons and Katz Resolved Their Differences

One of the rumored reasons why the Mets were selling the team was the split between Saul Katz and Fred Wilpon over the running of the team. Specifically, the main issue for Katz and the rest of the Katz and Wilpon family was how Jeff Wilpon is running the team.

Keep in mind, this wasn’t the first time Katz wanted to sell. Perhaps, the Wilpons are finding a way to hold onto the majority control of the team while permitting Katz to sell his shares. Maybe, there was a reconciliation between the two which could be the Wilpons buying him out or some other action.

Whatever the case, the Wilpon/Katz dynamic is the driving force of the sale to Cohen, and if the Mets are not sold, it is all because of this dynamic.

Cohen Was Disgusted By The Offseason

So far this offseason, the Mets botched hiring a manager, saw Zack Wheeler go to a division rival, and as a whole, he saw the Mets projected 2020 roster as worse than the 2019 roster which finished the season. Seeing this, he pushed for immediate control or an out.

Jeff Was Never Relinquishing Control

Time-in and time-out, Jeff Wilpon referred to the Mets as business as usual. Case-in-point was when Beltran was fired, Jeff said he spoke with Fred Wilpon, not Steve Cohen. When you look at this offseason, the Mets were operated no differently than in previous seasons. This could be a strong indication Jeff Wilpon is not going to permit anyone to take control of the Mets away from him.

That could include his doing everything in his power along the line to sabotage the deal. His efforts might’ve accelerated when he saw Cohen’s plans to celebrate his taking over the team.

Wilpons Want All The Credit

Around the time of the announced sale, the Mets have announced the building of the Tom Seaver statue fans had begged them to build for years. Jerry Koosman‘s number 36 is being retired. There is a new address honoring Seaver at Citi Field and Mike Piazza in Port St. Lucie.  Beloved Mets like Edgardo Alfonzo and Ron Darling are getting inducted into the team Hall of Fame.

It’s very clear the Wilpons want to change the story, and they want the Mets fans to look warmly upon them. There’s also no mistaking their wanting five years of control to get that one World Series title they still don’t have (in 1986, Nelson Doubleday was the majority owner).

In the end, the Wilpons saw the fan reaction to their selling the team, fan overtures about how Steven Cohen was going to get them players like Mookie Betts, and generally how their going away makes everything better. Seeing that, they let their egos get in the way and decided if they’re not getting the credit they think they’re owed, the fans aren’t getting the ownership they deserve.

Fred Worries About Jeff

Since the announced sale to Cohen, Jeff Wilpon has announced his new business venture of stadium consulting at a time when Sterling cannot get financing for the Islanders arena. Jeff’s big financial investment, the NYXL, participates in a league which isn’t producing anywhere near the revenues the owners hoped it would generate.

Overall, Jeff Wilpon continues to show he has little to no business sense, and short of the Mets giving him a guaranteed job, you wonder what happens five years from now. As a worrying dad, Fred might just be willing to forego financial security and a billion in profit just to take care of his son.

There’s Something Horrible Coming

The Wilpons have been caught up in a Ponzi scheme. Jeff Wilpon has fired an unwed pregnant woman, and former Mets players have spoken out about his interference with medical issues. Steve Cohen has his own checkered past including his run-ins with the law.

Everyone involved in this transaction is dirty, and sooner or later, their own personal conduct could lead to a deal completely falling apart. Given their respective histories, there isn’t much you can rule out whether it has legal implications or otherwise.

Frankly, pondering what that could be is much easier to stomach than to accept the cold, hard reality. That reality is the Wilpons have a choke hold on the Mets, they’re incompetent owners, and we are not getting rid of them anytime soon.