“King” Cohen continues to invest; sign Correa to his Mets

The roller coaster that has meant the signing of shortstop Carlos Correa showed that in the negotiations the checkmate is done by the billionaire tycoon Steven Cohenwhich does not skimp on exceeding the dollars allowed by the MLB.

Christmas has not yet arrived and it seems that Cohen has not finished investing. The adjective of “king” has been earned by the media because he has invested the most in this offseason. He acquired nine free agents, which in contracts represents an $806.2 million commitment. His most recent signing was Correa with a 12-year deal and 315 million, divided into 26.2 million per year.

And it is not that the owner of the Mets was the only offer for the Puerto Rican baseball player, the San Francisco Giants (and other teams) put their figures on the table, but in the end, the medical examinations and the delay in signing a contract made them desperate. Agent Scott Boras. He closed the door on them.

It became apparent that something was wrong when the Giants suddenly canceled the presentation conference on December 20 at Oracle Park.

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“We had a letter of agreement. We gave them a deadline to execute it. They told us they still had questions. They still wanted to talk to other people, other doctors, review it. I told them, ‘Look, I’ve given a reasonable amount of time. We need to move on this. Give me a deadline. If you’re not going to execute, I need to go talk to other teams,” Boras told Ken Rosenthal of The Athletic.

“You are talking about a player who has played eight seasons in the Major Leagues. There are things in his medical records that happened decades ago. All of these are speculative dynamics. Each team has the right to review things and evaluate. The key is that we gave them [a los Gigantes] medical reports at the time. They still wanted to sign and negotiate,” Boras continued.

Giants president of basketball operations Farhan Zaidi issued a statement after Boras went public with the disagreement over Correa’s physical.

“While we are prohibited from disclosing confidential medical information, as Boras said publicly, there was a difference of opinion about the results of Carlos’ physical examination.”

Now Correa is on the other side of the country being part of the team of “King” Cohen.

Cohen’s fortune is estimated at $17.5 billion, according to Forbes rankings. Due to her unbridled investment capacity, as part of the latest labor agreement, reached earlier this year, a new tier was added to the luxury tax system that was specifically designed to try to mitigate his spending habits. This new level (60 million above the base threshold), with a tax of 80% for each dollar in excess in the first year, 90% in a second consecutive year and 105% in each subsequent year.

By taking into account other contractual commitments, the Mets As of 2023 they have a player roster of 377 million, or a staggering 144 million above next season’s base luxury tax threshold of 233 million.

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