Steve Cohen just saved one struggling New York sports entity, why not another?
Many see Cohen, who bought his beloved Mets for a cool $2.4 billion earlier this year, as a franchise savior and a breath of fresh air after decades of frustration under the Wilpons. The newly-minted owner has said all the right things in his early Mets tenure, creating a dialogue with fans over social media (a tactic that impressed coveted free agent Trevor Bauer), embracing analytics and establishing a firm timetable (3-5 years) for when New York can expect to compete for a World Series. While extravagant spending was never the Wilpons’ MO, Cohen and his estimated $14 billion net worth should have no qualms spoiling top-flight free agents like Bauer and George Springer if it helps bring a championship to the Big Apple.
It's no wonder Mets fans, beaten down from years of mediocrity, feel like they have a new lease on life with a competent owner running the show. Which begs the question, if Cohen and his Midas touch can change the Mets’ fortunes, why not take on another reclamation project, East Rutherford’s favorite fixer-upper, the New York Jets? There’s been no indication the Johnsons plan to sell their stake in the Jets any time soon, but if they did, would Cohen pony up billions for the chance to own a SECOND New York franchise?
One hopeful fan dug up an Observer article from 2017 that detailed Andrew Beresin’s experience as a former junior trader at Cohen’s Connecticut-based hedge fund SAC Capital Advisors. Beresin, who claims he sat a mere four feet from his boss, said he once overheard Cohen debating whether to buy the Jets. It must be nice to have enough zeros in your bank account to make such an outlandish hypothetical seem even remotely possible, but rest assured, Cohen will not be purchasing Gang Green now, or ever.
Well, that seems pretty definitive. It’s not unprecedented for owners to double-dip—Josh Harris, for instance, owns both the Philadelphia 76ers and New Jersey Devils while the Denver Nuggets, Colorado Avalanche and Los Angeles Rams all fall under Stan Kroenke’s jurisdiction. But if Cohen ever does decide to diversify his sports portfolio by owning a second team, don’t bet on it being the Jets.