New York Mets Owner Steve Cohen Managed to Turn an Insane Profit of Over $150 Million Despite Lower Attendance Numbers- Here’s How
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The ongoing lockout in Major League Baseball has been a curse for the game of baseball and its players. But when it comes to the New York Mets, the curse on them has been for quite a long time now.
Notably, the Mets have been one of the most unsuccessful teams of MLB in the past few years. But ever since Steve Cohen has bought the team, seems like the good old days will be back very soon at the Mets.
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Notably, even after having a bad year in the 2021 season, the New York Mets’ revenue has taken a massive jump. And for this, the Mets’ fans must thank their new owner Steve Cohen.
New York Mets’ 2021 revenue crossed over $150 million
It is no secret that the New York Mets have struggled a lot in Major League Baseball in the past few years. Instead of winning the titles, the Mets have only disappointed its fans. The last time they won something that the Mets’ fans celebrated was the National League title in the 2015 season. Since then, the Mets have not had anything to add to their trophy cabinet.
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However, ever since business tycoon Steve Cohen has bought the New York-based MLB team, the Mets have done some serious business both, on the field and off the field. Notably, Cohen bought the Mets in 2020 by paying a huge amount of 2.4 billion. And after that, he also invested $50 million from his own purse on the ballpark’s balance sheet.
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Even attendees at Citi Field were 39% less than the 2019 season. But somehow the Mets owner managed to generate 153 million in revenue at their ballpark. According to Forbes, Cohen demonstrated this support by bolstering ballpark’s balance sheet liquidity by investing a massive amount of money. And on the other hand, the management also built additional near-term liquidity through the current refinancing.
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The New York Mets had a good year at Citi Field, documents obtained by Forbes show https://t.co/PDg64GkH6L
— Forbes (@Forbes) March 4, 2022
And just like the previous season, the Mets are looking for some serious business in 2022 as well. But this time they are also focusing on the rebuild of their squad for a better season on the field. Notably, just before the lockout, the New York Mets made some expansive signings in the name of Max Scherzer and Starling Marte among some other players. While the Mets also hired veteran manager Buck Showalter as their next manager.
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Only time will tell, how the Mets will do in this season, once the regular season starts. And after the lockout, the Mets might sign a couple of more players for the next season.
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