Steve Cohen’s $340M Gamble Falters as New York Gives Up on Juan Soto & Mets

Steve Cohen arrived in Queens on paper as a savior, descending from the height of hedge-fund towers in Greenwich or Boca with a swagger and a checkbook. He bet big on the New York Mets, dumping over $340 million into a franchise nobody could quite call broken. But now the bright lights feel dimmer. He came calling in December 2024 with a 15-year, $765 million contract to lure Yankees’ Juan Soto into the Mets. The richest deal in MLB history. That moment felt like the turning point. They didn’t just outbid their neighboring rivals; they made history.

But now, the Mets have lost their position as leaders in the final stage. They entered the weekend at 82–78, tied with Cincinnati for the last National League wild-card spot. The issue: the Reds possess the head-to-head tiebreaker. In effect,