Steve Cohen Responds to Mets’ Struggles With Rebuild Demands and Juan Soto Speculation

The New York Mets, a team with high hopes of winning the World Series and the payroll to match it, have sunk into a funk. Steve Cohen, their owner, who is renowned for his love of the team and its fans, tweeted yesterday: “What a stretch, mind boggling. I know how disheartening this is for our fans. Ty for caring so much.”

It comes in the wake of the 7-8 loss to the San Francisco Giants, in which the Mets blew a 6-2 lead and had their fate sealed on a walk-off infield dribbler turned by Matt Chapman. Marking their ninth loss in 11 games, their last performance drops them to eight games below .500. This has sparked conversations about whether to tear down the entire lineup with potential additions like Juan Soto.

The bullpen has been an ongoing problem, with Edwin Diaz struggling mightily as of late. Yesterday, Reed Garrett gave up a grand slam to Patrick Bailey, furthering the narrative of a team in disarray.

Steve Cohen’s frustration is understandable but also not usually seen from owners who are too far removed from what they’re supposed to be overseeing, especially when it comes to empathizing with their fanbase. His tweet has only intensified the conversation surrounding the Mets’ potential next steps.

The allure of Juan Soto is undeniable. The 25-year-old, already with one World Series title and batting title, reportedly turned down $440 million over 15 years from the Washington Nationals before this season even started. Yes. That happened. And why did he do that? For his confidence in himself? A strict “no-no” from Scott Boras? Considering that industry insiders have already predicted that he could land a 14-year, $540 million contract, the reason might probably be all of those things.

For Cohen, the cost of acquiring a talent like Soto is going to be high—very high. A recent New York Yankees’ Homecoming Dinner included an auction of a painting of Juan Soto in pinstripes that sold for $16,000 last Sunday night—no player has ever been valued more symbolically or financially. This painting should very well serve as a metaphor for what it will take to get him there in the first place.

But here’s the real issue: Soto projects to have an average annual value (AAV) of $38.6 million on his next deal, regardless of the fact that whether Hal Steinbrenner is going to make him a part of his cost-cuts, or not. That’s not easy to balance against other contracts; somebody is going to have to go if you want him. This, in turn, definitely raises questions about the future of Pete Alonso, the Mets’ homegrown slugger and fan favorite. 

Can Steve Cohen afford to keep Pete Alonso and Juan Soto?

Pete Alonso’s current 1-for-30 slump has some Mets fans wondering about his consistency—a word that gets thrown around a lot when it comes to the homegrown hero known for his prodigious power. But while Alonso’s track record is strong, this season’s numbers have been underwhelming. He is still 48 home runs away from tying Darryl Strawberry for the Mets’ all-time lead in that category, and his projected seven-year, $190-million deal as a free agent next winter reflects his status as one of the game’s premier sluggers. Alonso loves New York and wants to be a Met long-term; those who have followed him since he was drafted know how genuine that sentiment is. But it’s still a question of whether Cohen will sign both Juan Soto and Pete Alonso or force himself into a tough decision.

The direction the Mets take with Pete Alonso could depend on their overall strategy. If they commit to full rebuild mode, they might prioritize younger, cheaper players over long-term deals—even for someone like Alonso, who could be one of baseball’s more affordable stars through arbitration until he hits free agency after the 2024 season. But if they believe he truly is their cornerstone player, maybe at his most valuable position and still improving offensively with improvements already made defensively, then financially it would make sense for Steve Cohen to keep him in Queens.

Pete Alonso has always been thought of as a one-dimensional power-hitting first baseman without much else going for him (except maybe personality). It wasn’t until 2022 that he proved everybody wrong by batting .271/.352/.518 with an OPS+ of 146 and 166 intended bases on balls, good enough to clinch 8th in the majors among players who qualified for rate stats in NL MVP. So what happened? Why did pitchers figure out how to get him out again this year? The answer may lie within opposing teams’ scouting reports because they’re finally starting to take into account what makes Pete so dangerous: his swing, while making use of his weakness: an almost obsolete amount of clutch hitting.

Despite the uncertainty surrounding his future, Alonso remains focused on the present. “I love the city I play in,” he said in a recent interview. “I consider myself a New Yorker. I have a great relationship with guys on the team obviously. And I think I have a great relationship with people in the front office and Steve as well. We’ll see what happens this winter. It’s a big question mark.” His commitment to the team and the city has only endeared him further to the fanbase.

But the Mets are stuck in 2021, where their best player is still so far off from equaling numbers put up by a guy who played for them over three decades ago. They can’t afford to let go of that kind of talent, especially not right after the Yankees signed him (I’m joking). The point is, if Steve Cohen really, REALLY wants Juan Soto and Pete Alonso on the same team next season, then they better start playing some serious catch-up with their crosstown rivals this winter.