• Loading stock data...
Friday, July 11, 2025

Mets Owner Apologizes To Fans After Trades, Pledges ‘Sustainable’ Future

  • Cohen writes extended apology letter to season-ticket holders
  • Team rebuild carries salary constraints due to dead money now on payroll
Brad Penner-USA TODAY Sports

Days after dismantling his New York Mets’ historically expensive roster, owner Steve Cohen is vowing to field a competitive team in 2024 and apologizing for the “disappointment” of this season.

Cohen wrote to season-ticket holders, seeking to reassure them that the deadline trades of star pitchers Max Scherzer and Justin Verlander, closer David Robertson, and outfielders Tommy Pham and Mark Canha for a series of prospects have positioned the Mets for future success.

“Things have not turned out how we planned,” Cohen wrote, “You are rightly disappointed, and so are we. This is not where we wanted to be in 2023. Our goal is to be a consistent contender. The only way to do this in a sustainable way is to build a pipeline of high-caliber talent in our farm system that will fuel our major league team for years to come.”

The Mets entered the season with a $344 million payroll, a league record by more than $50 million. Following the trades, the Mets now have more 2023 money committed to players not on the active roster than those who remain. The club is below .500 and far out of the postseason chase. 

In the letter, Cohen also sought to focus on the Citi Field experience: “Our fans having a great time at the ballpark is important to us, and that’ll never change, [and] it will only get better as the years go on. Wait until you see what’s in store for next season.”

The letter references “supplementation” from the free-agent market to build a “formidable” Mets team for 2024. But last week, Cohen said he couldn’t be “all-in” on free agents, as “I’m carrying a lot of dead money. Trading Justin and Max creates a lot of dead money.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Bruce Meyer and Tony Clark of the MLBPA

MLB, Players’ Union Spar Over Salary Cap As Labor Fight Looms

The MLB Players Association’s No. 2 executive outlines what he sees owners doing.

Suns All In on Booker, Who Signs Record Extension Amidst Chaos

The Suns changed their head coach for the fourth time in four years.

Deion Sanders Rips ‘Bulljunk’ in CFB, Calls for NFL-Style Salary Cap

Coach Prime is frustrated with the new revenue-sharing era.

Murphy: Club WC Snags Won’t Derail Biggest Event ‘in Human History’

New Jersey’s MetLife Stadium is the concluding site of both FIFA events.

Featured Today

Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
Alex Sarr

Wizards Pushing Limits of Youth With 11 Players on Rookie Deals

Washington’s 2025 first-round pick is top-eight protected.
Chelsea
July 8, 2025

Chelsea Club World Cup Run Banks at Least $100M for Mark Walter..

The Blues will likely take home between $100 million and $120 million.
July 9, 2025

From Dynasty to Disarray: Red Bull Fires Christian Horner

He served as Red Bull team principal for more than two decades.
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
July 8, 2025

Texas Sports Teams, Leagues Donate Over $5M to Flood Relief

NFL, MLB, and NBA teams in Texas donate to flood recovery efforts.
Chelsea
July 8, 2025

Club World Cup Semis Are Battle to Make Richest Soccer Final Ever

Semifinalists have each earned at least $60 million from the tournament so far.
July 7, 2025

Nationals Hit Reset Button, Oust Rizzo and Martinez Before Draft

The MLB club made major leadership changes just days before the draft.
July 6, 2025

Liverpool to Pay Diogo Jota’s $20M Contract to His Widow

Jota had two years remaining on his contract.