Full Breakdown
Steve Cohen’s Mets: A Promise Unfulfilled
4/28/2026, 8:12:54 PM
Collapse of a Billion-Dollar Investment
On April 15, 2026, the Mets fell 8-2 to the Dodgers, completing a sweep and extending a losing streak that would reach 12 games. They have now lost 15 of their last 17 contests and sit at 9-19 this season, a significant decline after a $2.4 billion purchase.
From Purchase to Persistent Losses
Steve Cohen bought the Mets from Fred Wilpon in 2020 for $2.4 billion, pledging a World Series within five years, a “blueprint for winning,” and hiring “best and brightest.” Attendance peaked last season, but the promised title remains absent and his public optimism about a turnaround has not materialized.
Front-Office Turnover
Cohen’s tenure includes changes: Jared Porter was dismissed after five weeks for misconduct; Zack Scott was fired in 2021 after a DWI arrest (later acquitted); Billy Eppler resigned in 2023 amid an MLB injured-list probe. David Stearns hired manager Carlos Mendoza, who guided a 2024 playoff run before a June 2025 collapse led to a roster overhaul that removed Pete Alonso, Edwin Díaz, Brandon Nimmo and Jeff McNeil.
Numbers Highlight the Decline
The Mets rank MLB-worst in runs (92), on-base (.288), slugging (.337) and saves (two). Payroll and tax obligations total $506,843,754. Recent performance includes a 15-2 run in the last 17 games and a 9-19 start this season, highlighting the gap between spending and results.
Ownership and League Responses
Cohen voiced frustration with the club’s record, calling the championship drought “just too long” and urging fans to hold him accountable if expectations are unmet. He says he provides resources, not on-field decisions. An MLB official praised him as a supportive owner but noted “the people he’s hired have let him down.”
Critical Voices
Analysts note a missing talent-evaluation process, citing rapid GM turnover and the dismantling of a successful 2024 roster. The costly acquisition of Juan Soto has yielded limited impact, and trading Justin Verlander after 16 starts underscores perceived strategic inconsistency.
Verbatim Quotes
- “We will turn this around!” — Steve Cohen, Mets owner (tweet, April 15 2026)
- “You don’t buy them.” — Steve Cohen, introductory press conference (2020)
- “It’s hard to explain,” — Carlos Mendoza, Mets manager (post-loss comment)
- “I can’t find anyone who says Steve Cohen is a meddler, or someone who isn’t a supportive, positive owner,” — MLB official (anonymous)
Outlook
Cohen has pledged accountability, and the Mets face pressure to craft a coherent development plan before the next season. Continued roster turnover and the challenge of converting financial resources into consistent on-field performance remain the franchise’s central hurdles.
