SYRACUSE — A New York City firm will soon be the new owner of the Syracuse Mets, the Triple-A baseball affiliate of the New York Mets, but the team will continue playing its games in Syracuse. Syracuse will also remain the New York Mets’ top minor-league baseball affiliate. Diamond Baseball Holdings (DBH) on Dec. 10 […]
SYRACUSE — A New York City firm will soon be the new owner of the Syracuse Mets, the Triple-A baseball affiliate of the New York Mets, but the team will continue playing its games in Syracuse.
Syracuse will also remain the New York Mets’ top minor-league baseball affiliate.
Diamond Baseball Holdings (DBH) on Dec. 10 said it has forged an agreement with affiliates of Cohen Private Ventures to purchase the Syracuse Mets. DBH is a New York City–based organization that owns and operates about three-dozen minor-league clubs affiliated with Major League Baseball (MLB).
Subject to obtaining the consent of the league and satisfying other standard closing conditions, the transaction is expected to be completed “promptly,” per the Dec. 10 Syracuse Mets announcement, which didn’t include any financial details of the sale.
The New York Mets bought the then-Syracuse Chiefs for $18 million in a deal the Chiefs announced in October 2017.
Following the club’s latest sale, it will remain in Syracuse as the Mets’ Triple-A affiliate and the club will also retain its front-office staff and continue to be led by General Manager Jason Smorol, according to the announcement.
As part of the transaction, DBH has also purchased the New York Mets’ High-A minor-league affiliate, the Brooklyn Cyclones. The Syracuse Mets and Cyclones join the franchise’s Double-A affiliate, the Binghamton Rumble Ponies, on the DBH ownership roster.
“The New York Mets are deeply grateful to the staff and players of the Syracuse Mets and Brooklyn Cyclones. These franchises have created two of the best fan-bases in Minor League Baseball and we are excited to continue our affiliation with these cities,” M. Scott Havens, president of business operations for the New York Mets, said in the announcement. “With their acquisition by DBH, both clubs will have greater dedicated resources and player development tools to set them up for successful seasons for years to come.”
Diamond Baseball Holdings was formed in 2021 to support, promote, and enhance minor-league baseball clubs affiliated with MLB through professional management, best practices, innovation, and investment.
“The Syracuse Mets are a cornerstone of Central New York, where the franchise has deeply connected with the community while drawing fans from across the region for generations,” Pat Battle and Peter Freund, executive chairman and CEO of DBH, respectively, said in the announcement. “We’re thrilled to add them to our roster and continue growing our relationship with the New York Mets. We look forward to enhancing the distinct fan experience at NBT Bank Stadium while ensuring the ballpark remains a year-round destination for affordable, family-friendly entertainment for years to come.”
The announcement of the Syracuse Mets team sale came a day after the parent club, the New York Mets, made a huge splash with media reports stating it had agreed to sign Juan Soto to a 15-year, $765 million contract, the largest in the history of Major League Baseball.
