• Loading stock data...
Friday, July 18, 2025

In One Stadium Move, Cohen Saves The Mets More Than $200M

  • Stadium bond refinancing yielding significant savings
  • Team owner continues push to improve Citi Field area
Brad Penner-USA TODAY Sports

New York Mets owner Steve Cohen is well known for his unprecedented spending on players and league-leading personal wealth. But he’s also managing to save the club significant sums of money.

Cohen’s Mets — who fielded a MLB-record $344 million payroll this year, and led by his estimated $19.8 billion net worth — are reaping major benefits from a 2021 refinancing of bonds funding the construction of 14-year-old Citi Field, which was publicly owned and now also owned by Cohen.

The refinancing infused $50 million into the balance sheet for the stadium bonds. It also lowered interest rates from a prior range of 4.3-6.5% to a new one of 2-5%, reducing annual payments and yielding more than $200 million in total savings between now and 2046.

“New ownership immediately and continually invests in the on-field team product with one of the highest payrolls in MLB,” Moody’s Investor Service wrote in a report giving the Mets’ stadium bonds a stable outlook. “This willingness to support the team, and the ballpark if needed, is expected to continue.”

Stadium Aspirations

That investment in the ballpark and the area surrounding Citi Field continues to be one of the key focal points for Cohen and the Mets. Following a dismantling of the roster at this past season’s trade deadline, Cohen pledged a heightened focus on the Citi Field experience for the 2024 season.

More recently, Cohen has been public about his desire to build a casino in the oft-criticized Queens neighborhood adjacent to Citi Field, an effort that would be new for a major league ballpark setting.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jul 13, 2025; Atlanta, GA, USA; MLB Commissioner Rob Manfred announces the pick for the Athletics pick during the MLB Draft at The Coca-Cola Roxy.

Manfred Says MLB Had Wrong Approach to Creators Like Jomboy

“You gotta go where people are going,” the commissioner said.
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) reacts after giving up a home run during the fourth inning against the Cincinnati Reds at Progressive Field.

MLB Pitcher’s Paid Leave Extended Through August As Betting Probe Continues

Leagues have been dealing with a host of sports betting issues.

Netflix Beats Projections Again—and Plots Big Holiday Sports Slate

The streaming giant again beats analyst projections in every respect.

Cleveland’s WNBA Team Follows Golden State’s Proven Blueprint

The franchise will play its first WNBA season in 2028.

Featured Today

Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.
July 12, 2025

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.

Michael Jordan’s NASCAR Team Loses Another Legal Battle

23XI Racing has lost its Cup Series charter status for the time being.
WNBA
July 15, 2025

Portland WNBA Team Will Be Fire, Bigger Choices Loom

The WNBA’s 15th franchise is bringing back the Fire.
Jul 2, 2025; Tampa, Florida, USA; Tampa Bay Rays left fielder Jake Mangum (28) leaps for a ball over the wall against the Oakland Athletics in the second inning at George M. Steinbrenner Field.
July 16, 2025

Rays Will Play Potential Playoff Games at Spring Training Stadium

Tropicana Field is undergoing hurricane renovations.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
May 12, 2025; New York, New York, USA; Boston Celtics forward Jayson Tatum (0) shoots the ball in the second half during game four of the second round for the 2025 NBA Playoffs against the New York Knicks at Madison Square Garden.
exclusive
July 14, 2025

Celtics, Lakers Sales Not on Agenda for NBA Board of Governors Vote

The Board of Governors will meet Tuesday.
Alex Rodriguez
July 11, 2025

Finally in Charge, A-Rod Says Timberwolves Need New Arena

Rodriguez and Lore would like to repair team relations with Kevin Garnett.
Alex Sarr
July 9, 2025

Wizards Pushing Limits of Youth With 11 Players on Rookie Deals

Washington’s 2025 first-round pick is top-eight protected.
July 9, 2025

From Dynasty to Disarray: Red Bull Fires Christian Horner

He served as Red Bull team principal for more than two decades.