Thursday November 30, 2023

Mets Make Splash With First Big Trade Since Ownership Change

New York Mets
Linkedin
Copy Link
Link Copied
Link Copied

The New York Mets made their first blockbuster trade since billionaire hedge fund manager Steve Cohen purchased the team in October 2020: acquiring four-time All-Star Francisco Lindor from the Cleveland Indians.

Cohen, who has an estimated net worth of $14.6 billion, acquired the Mets in a $2.42 billion deal. He immediately said he’ll spend top dollar to make the organization a World Series contender.

Many expect the Mets to quickly sign Lindor to a long-term contract.

The 27-year-old shortstop was available as the Cleveland franchise embarks on a rebuilding effort. Shipping Lindor, along with pitcher Carlos Carrasco, to New York will save approximately $30 million in payroll. 

2021 Financial Comparisons: 

  • New York estimated payroll: $179 million
  • Cleveland estimated payroll: $40 million
  • Los Angeles Angels center fielder Mike Trout: $37.1 million

The Mets’ total no longer includes the $24 million that would otherwise be owed to Robinson Canó, who is serving a PED suspension. 

Beyond yesterday’s trade, Cohen has already delivered on his promise to spend for the Mets: 

  • Kept pitcher Marcus Stroman on a $18.9 million qualifying offer
  • Re-signed pitcher Noah Syndergaard to a one-year, $9.7 million contract
  • Signed pitcher Trevor May to a two-year, $15.5 million contract
  • Signed catcher James McCann to a four-year, $40.6 million contract

Despite the frenzy around the Lindor news, Cohen was focused elsewhere: “I know this trade seems to [be] creating excitement but let’s get back to what matters – the black jerseys,” he tweeted.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

A general view of Citi Field, home of the New York Mets.

Mets Owner's Major Hire Underscores Emphasis on Media Revenue

Cohen turns to Bloomberg Media executive to lead team's business operations.

FSG Confirms PGA Tour Talks After Report of Large Offer

The PGA Tour could bring on new investors this year.

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

Stadium bond refinancing yielding significant savings
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Mark Cuban, Mavericks After $3.5B Sale?

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Wasserman
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
Mark Cuban and Dallas Mavericks.

Adelson Family Freed Up $2B To Reportedly Buy Stake In Dallas Mavericks

Miriam Adelson is selling a portion of her Las Vegas Sands Corp stock.
New York Knicks executive chairman James Dolan watches during the first quarter against the Cleveland Cavaliers at Madison Square Garden.
November 22, 2023

Knicks Owner Resigns From NBA Committees Amid Lawsuit

The Knicks are suing the Toronto Raptors for $10 million.
Carolina Panthers quarterback Bryce Young hugs team owner David Tepper on the field prior to the game against the Atlanta Falcons at Mercedes-Benz Stadium.
November 27, 2023

David Tepper’s Reign Marred by Firings

Between the Panthers and Charlotte FC, Tepper has fired five head coaches.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Arizona Cardinals owner Michael Bidwill looks on against the Baltimore Ravens during the second half at State Farm Stadium.
November 1, 2023

Arizona Cardinals Owner Michael Bidwill Accused of Workplace Misconduct

Former COO Ron Minegar describes a “deep culture problem” within the organization.
Miami Marlins chief executive officer Derek Jeter watches batting practice prior to the game against the Los Angeles Dodgers at loanDepot park.
October 18, 2023

Former Miami Marlins President Says Bruce Sherman Fired Derek Jeter

David Samson told FOS that Derek Jeter failed to meet revenue goals.
Miami Marlins general manager Kim Ng looks on from the field prior to the game against the New York Mets at loanDepot Park.
October 16, 2023

Trailblazing GM Kim Ng Departs Miami Marlins

Miami reportedly considered hiring a president of baseball operations to oversee Ng.
October 11, 2023

Goodell On Track For Extension, $700M In Career Earnings

Months in development, new three-year contract again said to be close.