Report: Steve Cohen's $2.6B Bid to Buy Mets on 'Life Support' Amid Negotiations

Billionaire Steve Cohen reportedly is walking away from his $2.6 million purchase of the New York Mets because of the Wilpon family's last-second attempts to make alterations to their existing agreement.

Thornton McEnery of the New York Post reported the deal is "on life support," and Cohen is "deeply unhappy" about the Wilpon's actions in attempting to close the deal.

However, Jon Heyman of MLB Network reported Cohen is hopeful the Mets will revisit the deal.

"The parties are subject to confidentiality obligations, including a mutual non-disclosure agreement, and therefore cannot comment," the Mets said in a statement.

The Mets announced in December that Cohen was in negotiations to increase his stake in the Mets to 80 percent. A transition would take place over the course of the next five years, with Jeff and Fred Wilpon staying on in their respective roles during that time.

The $2.6 billion valuation would be the largest sale in MLB history. Fred Wilpon and Nelson Doubleday Jr. bought matching 50 percent shares of the Mets in 1986. Wilpon bought out Doubleday's half in 2002, taking full control of the franchise.

The Wilpons sold minority stakes in the Mets to pay off lawsuits that transpired due to their involvement with Ponzi scheme mastermind Bernie Madoff. 

Joel Sherman of the New York Post reported the Wilpons were looking to make a sale because they could not agree to a succession plan within the family. The children of Sol Katz, the brother-in-law of Fred Wilpon, reportedly did not want to partner with Jeff Wilpon moving forward.

It's unclear if the Mets will seek another buyer if this deal falls through.