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Steve Cohen Speaks...


Lip Man 1

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Mets owner commented today to the media:

“I made a commitment to the fans. It wasn’t a short-term commitment. When I do something, I don’t do it halfway. When I’m in, I’m all in. I don’t accept mediocrity well. And so I have a certain high expectation. If it requires me to invest in this club, I’m going to do it.”

“At the Owners’ Meetings, I had owners coming up and they go, ‘You're 100% right. You are following the rules.’ Which I am,” Cohen said. “They laid down the rules, and I’m following them.”

“You know how hard it is to get into the World Series, right?” Cohen said. “The only thing you can do is put yourself in a position where good things can happen; you’ve got to make the playoffs, your team’s got to be healthy, it’s got be rested, it’s got to be raring to go. And then you let the chips fall where they may. And if you keep putting yourself there, one day, we’ll get there.”

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https://sports.yahoo.com/nbas-player-movement-era-creates-buzz-for-league-freedom-for-players-but-is-there-a-downside-050528086.html

Was just reading this article about the NBA and how stars moving so frequently and dictating trade terms is good for the league.

Would have to argue the exact opposite for MLB...as it's increasingly a regional sport and stars in their first 6-7 years of player control are the lifeblood of small market teams, like Jose Ramirez in CLE or Wander Franco in TB.

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33 minutes ago, Lip Man 1 said:

Mets owner commented today to the media:

“I made a commitment to the fans. It wasn’t a short-term commitment. When I do something, I don’t do it halfway. When I’m in, I’m all in. I don’t accept mediocrity well. And so I have a certain high expectation. If it requires me to invest in this club, I’m going to do it.”

“At the Owners’ Meetings, I had owners coming up and they go, ‘You're 100% right. You are following the rules.’ Which I am,” Cohen said. “They laid down the rules, and I’m following them.”

“You know how hard it is to get into the World Series, right?” Cohen said. “The only thing you can do is put yourself in a position where good things can happen; you’ve got to make the playoffs, your team’s got to be healthy, it’s got be rested, it’s got to be raring to go. And then you let the chips fall where they may. And if you keep putting yourself there, one day, we’ll get there.”

I'm jealous!

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(Padres chastised by Rockies' ownership and Rob Manfred for "unsustainable" spending.)

If only JR heard the same criticism during his lifetime...maybe Albert Belle signing, but that was done intentionally by JR to mock the free agency system and escalating salaries prevalent in the mid to late 90's.

He didn't get stuck holding the bag with that deal for very long, either.

God knows if 2005 even happens if not for the Orioles interceding fortuitously.

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2 hours ago, JoshPR said:

Now we know why ol uncle Jerry didn't want this guy around... Makes him look more like a total ass

I don’t think it was ever a secret, in fact I’m pretty sure that all came out when Cohen was being considered as an owner, that JR was extremely against it.  Jerry knew that Cohen was planning on spending and changing the spend structure in the league 

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20 minutes ago, he gone. said:

some of the richest people are the cheapest people. we have that in Jerry. 

he's the guy who's tipping 20% on a meal to the penny and 10-15% on expensive wine. 

If he is tipping 20 percent then he is all good.  Not sure how that paints him as cheap lmao

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4 hours ago, Lip Man 1 said:

In response to Cohen MLB has formed a committee. Author says it is the first move to try to get a salary cap imposed in the future:

https://www.cbssports.com/mlb/news/mlb-owners-create-economic-reform-committee-as-worries-linger-over-steve-cohens-spending-broadcast-deals/

You know Jerry is leading the charge!

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5 hours ago, Lip Man 1 said:

In response to Cohen MLB has formed a committee. Author says it is the first move to try to get a salary cap imposed in the future:

https://www.cbssports.com/mlb/news/mlb-owners-create-economic-reform-committee-as-worries-linger-over-steve-cohens-spending-broadcast-deals/

The next work stoppage is gonna be lit

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Phillies owner John Middleton seems to share the same philosophy as Cohen:

Quote

The payroll is closing in on the second-tier $253 million luxury-tax threshold, trailing only the Mets, Yankees, and Padres, and jockeying in the deep end with the Dodgers and Blue Jays. But for Middleton, as ever, the bottom line goes beyond the bottom line, which explains why he keeps spending ... and spending ... and spending.

“How much money did the ‘27 Yankees make? Or the ‘29 A’s? Or the ‘75-76 Big Red Machine?” Middleton said. “Does anybody know? Does anybody care? Nobody knows or cares whether any of them made any money or not. And nobody cares about whether I make money or not. If my legacy is that I didn’t lose any money owning a baseball team on an annual operating basis, that’s a pretty sad legacy. It’s about putting trophies in the cases.

“If your ambition is to be good, you don’t make those decisions [to sign Turner]. If your ambition is to be great, you make those decisions. It’s about desire, really. I just want to win.”

 

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23 hours ago, Kyyle23 said:

If he is tipping 20 percent then he is all good.  Not sure how that paints him as cheap lmao

If you have the means of JR and you're tipping 20% then you're an asshole. When you get to the level of billionaire you should be tipping 100%+. 

Let's put it this way. Let's say you've saved $100,000 cash in your bank account. Now let's just call JR worth $1,000,000,000 (Bulls valued over $4B, Sox at $1.75B), but for easy math let's call him $1B. You have 1/10,000 of his money. 

So let's say a bill comes and its $500. Him tipping 20% v 100% is $100 v. $500. That $400 difference is worth $400/10,000 to a person with $100k in their bank account. Or 4 cents. Now let's call him what he's worth at over $5B ... it's the equivalent of one penny. 

If he's not tipping 100% on a $500 bill it's the equivalent to adding ONE PENNY onto his bill to someone with $100k in the bank. 9% of Americans have $100k or more in savings in the bank. 

Perspective. 

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haha right? It's why Steve Cohen is correct & why all Sox fans are correct in their gripes. Assuming JR at $5B net worth. Adding $10mm to a payroll is like asking someone with a $100k cash to add $200 to our fantasy Sox baseball roster payroll. 

That's also assuming their is zero return on that $10mm. Aka, no ticket sales, no wins, no merch sales, no anything.

I don't know about you all, but if I was the owner and all these fans who use my baseball team is a stress reliever, a moment of joy, etc. and their ask was to put in an extra $200 per year? I'd do it. $500? Why not? And again, thats assuming no ROI (return on investment). If the Sox spent $25mm more this off-season I'm pretty sure there would be more season tickets sold, many more wins, many more day of ticket sales, more beer bought and more parking sold. $25mm could've netted Conforto and Segura give or take and still fit in the our "window" Not even asking for the big, long contracts. 

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  • 10 months later...

https://www.politico.com/news/2024/01/22/mets-steve-cohen-casino-00136687

 

"NEW YORK — A hedge fund billionaire and a gaming giant hoping to land a coveted license to run a casino in New York City have to clear a major hurdle in Albany this year — or risk tougher odds in the crowded competition.

And a few weeks into a new legislative session in Albany, politicians who will help decide the fate of the proposals are already expressing doubts.

The race for three New York City-area casino licenses has drawn 11 proposals from gambling companies and real estate developers, who are sparing little expense for a slice of the lucrative untapped market. They will soon begin a lengthy state process that requires winning over local politicians and state gaming regulators.

But two of the proposals — one from billionaire New York Mets owner Steve Cohen, and another from the gaming firm Bally’s — need an added layer of approval from the City Council and state Legislature, due to an obscure process governing the land where both bidders are looking to build.

Cohen recently unveiled plans for an $8 billion casino complex on the parking lot adjacent to Citi Field in Queens, while Bally’s is looking to build a casino at the Bronx golf course it took over from the Trump Organization in September."

Edited by caulfield12
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