Report: Cohen expects to lose $400M in 1st two years of owning Mets

Steve Cohen isn't planning to skimp on expenses when he takes over as New York Mets owner.

The billionaire said he expects to lose about $400 million over the first two years of owning the club, sources told Mike Puma of the New York Post.

"While all these other owners are trying to save money, he’s already spent money," an MLB executive told Puma. "So what’s another $50 million to put together the best front office and (infrastructure) he can put together? These other guys are trying to save money, so (Cohen) is like these guys that try to dominate Wall Street by buying up all the stocks when stuff is going bad. He’s already spent the money and this is his opportunity to really take advantage of a down market."

In addition to pursuing top-flight free agents on the domestic and international markets, Cohen is expected to invest further into analytics and spend more on expanding technology available at Citi Field, where the Mets apparently trail much of the league with comparatively "archaic" tech.

However, the sale is not yet complete. In the coming weeks, MLB owners will vote, and Cohen will need 23 of 30 to approve the transaction. If it goes through, he will have a 95% stake in the team.