Steve Cohen purchased the Mets in November 2021, after the season left the Mets in a 77-85 record. After handing over 2.4 billion for the club, Cohen made a now looming statement that “if I don’t win a World Series in the next three to five years – I’d like to make it sooner – I would consider that slightly disappointing.”
Since his purchase of the team, the Mets have gone 263-220, a generally positive number, but nowhere near the stakes required to make it to the World Series. Let’s take a closer look at Cohen and company strategy and key moves since taking control of the New York Mets.
An important piece of any ball club, especially when looking at longevity, is their farm system. MLB saw this strategy play out successfully with the Baltimore Orioles during the rebuild a few years ago. Opting for a larger supply of developing talent as opposed to a smaller supply of big-name talent proved to be effective, especially financially, as long as the club can rely on that player development.
Coaching and scouting come into play in a key role here, which is why eyes are all on Luisangel Acuña as he rises through the minor leagues. The star infielder and youngest son of the talented Venezuelan baseball family is a key indicator in the Mets minor league improvements as they shift focus to homegrown talent.
A major loss to Mets fans in recent years was the departure of star pitchers Max Scherzer and Justin Verlander. Scherzer went to the Texas Rangers in the deal that brought Acuña, and Verlander was sent back to the Houston Astros in exchange for two minor league outfielders.
In these deals, the Mets were able to invest in younger players who they can develop and potentially sign for longer-term deals as they rise to the majors. In addition, Max Scherzer and Justin Verlander, having just reached 40 and 41 years old respectively, are unlikely to sign any more long-term deals. Their contracts would be a big financial investment for the Mets that would put their pitching staff at a level that the rest of the team may not be able to match, which would be a shame as the team races for Cohen’s World Series goal in the next few years.
An interesting piece of this puzzle is the fact that the Mets have the largest payroll in major league baseball, with a staggering number at almost $318 million. With a number so high, and a new owner with pockets so deep ($21 billion deep), it’s tough to see how the Mets haven’t been able to keep a hold on talent like Scherzer and Verlander. For a small-market team, it would be a wise decision to put the money elsewhere, but the Mets certainly aren’t lacking the Benjamins, so it’ll be at the least interesting to see what they do with that cashflow in the next few years.
Cohen signed on President of Baseball Operations David Stearns in October 2023, effectively handing off much of the reigns as he simultaneously fired manager Buck Showalter. Stearns signed several players to 1–2-year deals to fill gaps where minor league talent wasn’t ready, including veterans DJ Stewart and Jorge Lopez.
Finally, outside of the baseball side, Citi Field has a plethora of opportunities as one of the major venues New York City has to offer. The ballpark has hosted music festivals such as Governor’s Ball and Rolling Loud in recent years, and Cohen has mentioned wanting to use those opportunities to the Mets’ advantage. 5 months of offseason could generate a significant profit to put towards team expenses, so it’ll be up to Cohen’s organization to take advantage of that deal.
Keep an eye on the Mets as they head into the 2024 Postseason, beginning with the NL Wild Card series this week against the Brewers.
For more information on the New York Mets fans are encouraged to click on the link seen here: