MLB Commissioner Rob Manfred Believes Mets Sale to Steve Cohen Won't Happen

Steve Cohen's bid to buy a majority stake in the New York Mets may be over. 

MLB commissioner Rob Manfred said Thursday, "My belief is there's not going to be a transaction," according to Erik Boland of Newsday. 

Cohen, who was going to buy an 80 percent stake in the Mets, has reportedly decided to back out of the deal. According to Deesha Thosar of the New York Post, the hedge-fund billionaire got cold feet after Fred and Jeff Wilpon reportedly tried to change the terms of the original agreement:

"Under the original agreement, announced on Dec. 4, Fred Wilpon, 83, would remain in his role of Mets CEO and control person and Jeff Wilpon would remain in his role of COO through the 2024 season.

"According to a source familiar with the situation, the Wilpons wanted team control beyond the five years they agreed to and also wanted to extend their control of SNY, the Mets' cable network, for longer than the 20-year rights deal."

Per that report, Cohen is willing to return to the bargaining table, but "only if they are under his terms and possibly only if those discussions involve immediate control as majority owner."

Kevin Draper, David Waldstein and James Wagner of the New York Times also reported that Cohen was backing out because of the Wilpons seeking to extend their team control beyond the terms originally agreed upon, though they added that the deal could still go through and that the most recent snag may simply be each side negotiating for more favorable terms. 

Cohen currently owns a four-percent stake in the organization. 

The Mets have not commented on the ongoing negotiations, citing a non-disclosure agreement.