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New York Mets owner Steve Cohen revealed plans Tuesday for an $8 billion project to develop the area around Citi Field in Flushing, Queens, New York.
According to Darren Rovell of The Action Network, the investment will cover a 50-acre area around the ballpark and it will feature the construction of several potential hotspots, including a Hard Rock hotel and casino, and a sportsbook, if approved:
Darren Rovell @darrenrovell
NY Mets owner Steve Cohen unveils $8 billion, 50-acre investment around CitiField.
Will include a Hard Rock Hotel & Casino + sportsbook, restaurants, bars and a live music venue. Also 20 acres of public park space. pic.twitter.com/iMmvFcOtmc
The new Metropolitan Park would also contain bars, restaurants, community athletic fields, playgrounds and more.
Cohen, 67, is the billionaire founder of hedge funds Point72 Asset Management and S.A.C. Capital Advisors who purchased the Mets from Fred Wilpon and Saul Katz for $2.4 billion in 2020.
In three full seasons since Cohen bought the team, the Mets are 253-233 with no National League East titles and just one playoff appearance.
They are coming off a particularly disappointing 75-87 season in 2023 that saw them trade away several top players, including veteran starting pitchers Justin Verlander and Max Scherzer.
Cohen, who has an estimated net worth of $13.9 billion per Bloomberg, has been outspoken about his willingness to spend big to win a World Series, but success has been fleeting thus far.
Still, the Mets are among the most popular teams in Major League Baseball, and their games should become an even bigger destination once the Metropolitan Park project is completed.
Per ABC7 in New York City, Cohen's plan is only a proposal currently, as it requires approval from the state legislature and the governor.
