New owner: Mets to act 'like a major market team'

5:56 PM ET

Associated Press

NEW YORK — Steven Cohen promises splashes of cash Mets fans expect from his billions — within reason.

“If I don’t win a World Series in the next three to five years, ” he said Tuesday, “I would consider that slightly disappointing.”

Four days after buying the Mets from the Wilpon and Katz families in a deal that valued the team at a baseball record $2.42 billion, Cohen unveiled his philosophy to turn around the perennial underachiever, promising that the Mets will act “like a major market team.”

“Are we going to act like drunken sailors in the marketplace? No,” he said. “I want to be thoughtful. You can spend a lot of money today and then tie up your team in bad contracts for the next five years.”

Cohen, CEO of Point72 Asset Management in Stamford, Connecticut, bought an 8% limited partnership stake in 2012 for $40 million and increased that last week to 95%, with the Wilpon and Katz families retaining 5%.

His first decision was to bring back Sandy Alderson as team president. Cohen plans to defer to Alderson and his baseball operations staff. Alderson said Luis Rojas probably

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