Steve Cohen, Jeff Wilpon, David discussed on WFAN Sports Radio_FM Show
David broke the story on DH. We welcome board right now. Good afternoon, David. How you doing, buddy? I'm doing Okay. Hope you guys are both doing well, we're doing well and thanks. It's been a while since we last we spoke, David after the initial deal fell through here. You know, Cohen everyone when the story came out, and you broke the story that you know, people are saying what was always going to be Steve Cohen take us away from what your knowledge and understanding is You know this process and why it played out so quickly. We didn't have to wait till today. Where that news comes down Friday night. Yeah, you know, Listen, I Comey always had to imagine was, um, the person Most able to pull it off. If he wanted to write, he's by far the wealthiest of any of them. Bitting, so to speak, and it really is just a matter of how much he wanted to write a check for, But that said, I don't think it was in any way Fair completed. He was gonna win this time on should point out even though he's he's in exclusive talks, and my latest reporting is maybe a little of a couple of days away. Finding a deal not celebrating yet, and you both know Well, Last time we talked, this thing fell apart very close to sort of the end. There's different things. I could talk to her. If you want about what's different this time last, But in terms of competition, I mean, the Abra J. Lo cook was real from everything I hear. Now there were some who are questioning whether all their equity commitments from various investors would have been would have been good. That debt commitment potentially from JP Morgan. They were real and they I think we're getting confident that they had a real shot at this thing, and I think they're willing to go a size 2.3 billion. I think kind of that's where they indicated. On. Clearly, Cohen stepped up above that is what I what I my reporting indicates given. He's the one who has exclusive rights to negotiate and get the final deal done. So, David, what is different this time around? Why is this closer to the finish line that it was back in? What was that February? It was said right now is just trying to feel like a lifetime ago. Time is weird these days. Yeah, but it was only February late December when when they sort of want come and looked like he was going to get the team and then it fell apart, not separate. But we talked to a number of times. Well, first, there was a five year agreement that you too know well about right five year management agreement that even though he would own the team, well ponds, and Jeff Wilpon would manage it for a parent of years after that sort of complicated things, although subsequently so what I knew back then I also think that there was some difficulty around the costs of closing the deal. So called closing costs, you know, and there was a back and forth there that they didn't get to an answer to a new agreement on in terms of who would bear certain costs. They've been through all this before, and the five year agreement obviously is not a part of this. Deal it alright when he buys it. He owns it he controls And so I think there is hope on both sides that they can get through it more quickly. But that said, Listen, You never know. You know, you never know. These two days when trying to sort of get to the absolute final thing and get their signatures on the page. You never know something's gonna come up. It doesn't seem likely, but certainly we know it's possible that anyone has bought a house was just nodding their heads slowly when you're talking about closing costs. Oh, my goodness. There really were channeling David Favour co anchor of CNBC Squawk on the street joins us now. No, David, as in how much was it? The Post reported that Will Jeff Wilpon was not part of the negotiations. We know and have seen reports that Jeff and Steve don't see II. Someone said that Jeff can't stand. Steve Cohen. How much was How important was it to get Jeff out of the negotiating room? This go around? He knows? I don't really know Specifically how important that wass and I don't know that I could speak to the level of animosity. If there is any between Mr Cohen Oh, and Jeff Wilpon. Um, what I do know is that it's well, ponds and you are Going to sell the team You want to have a robust in auction is possible. So even if there was a mill well with Mr Collins, if maximizing your profit is really what you're all about. There's just no way you don't want him sitting down at table or at least being a part of the of of the bidding process. I mean, Knowing that he could write the cheque that as it's turned out, of course, would be the highest number. You'd probably get paid. So you know, I guess To the extent of your well ponds. And if that's true from the post reporting that there is this high level attention, you just don't want Jeff from the room, conceivably, or in these days on the zoom to negotiate that for you. We're talking with David Faber from squawk on the street and had the news that Steve Cohen has the exclusive exclusive negotiating rights to buy the vets. And this is gonna be David Metz. Citi Field. Did you hear anything about S N y, which was to die? Obviously, full disclosure have have done work for anything about the network. No, You know, that's not a part of Neil's. Far as I'm aware, it's funny. One of the bidding groups group might have been some, There was some discussion about whether there would be a certain percentage that they might buy. I think Cohen would like tone, but it's not a part of this deal. As far as I'm aware, um, and there's some complexities around two in terms of the contract between us online, the Mets, whether or not because you have the same owners on both sides. Whether the Mets are getting fairly compensated. So that could be an issue. You know, if you're a buyer, you're gonna want to understand what fair value of the of the TV rights and radio right streaming rights really has because that secrets into your Willingness to ability to bits, but it's unwise problem. We're not a part of this transaction down the road. It certainly could be something that he looks by because I think that On coin's part to own it, David, What do you think Cohen will be as Mets owner? You know, we talked about this, I guess last time when? When? When? It was bad news even more, right? Yeah, because I think this belief No, I know him from following him for many, many years through a lot of good and bad times, obviously the key being the insider trading Ah, settlement that he reached with the government. Um, but he also somebody who really understands how tow evolved. Ah, business. And so that it stays. Relevant and I think he's managed to do that for many years running his hedge fund, predecessor say fees new 1.72 Um, he, you know he's known sort of for having been this great trader. But really, I think what he really has been somebody who understands how to build a business and evolve it. And make sure that it's still able to maintain high level the problem. So if you believe that's the case, I think you're going to embrace him as an owner. That's just first deep pockets, but because I think he He learned and he implements on is constantly trying to be the forefront of things that are changing Mama Baseball's also changing a lot every day..