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N.Y. Mets owner Steve Cohen back David Stearns but still displeased with team performance

Reported by Sportsbusinessjournal
Jul 2, 2026· 3 min read
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Key Takeaways
  • • Stearns Tenure Extended: Mets owner Steve Cohen affirmed that President of Baseball Operations David Stearns will "live out his five-year contract" through 2028, eliminating immediate speculation about his removal despite organizational underperformance.
  • • Mixed Performance Record: Cohen acknowledged a "mixed record" under Stearns, crediting the 2024 near-World Series appearance while citing 2025-2026 deterioration driven by "underperformance, injuries, numerous off-season changes," and roster adjustment failures among newly acquired players like SS Bo Bichette and P Freddy Peralta.
  • • Conditional Accountability Framework: Cohen signaled that while Stearns retains his position now, "if we get to Year 5 and our performance continues to suffer, at that point everything is fair game," establishing a five-year performance evaluation window before major roster or leadership changes are reconsidered.
  • • Recent Management Shake-up: The Mets fired manager Carlos Mendoza last week—the first major move of the Stearns administration—marking a significant organizational shift amid declining on-field results and roster construction criticism.
  • • Capital Deployment Scrutiny: Sherman's analysis highlighted "poor use of money and farm collateral" under Stearns' tenure, signaling investor concerns about asset allocation efficiency and the strategic direction of franchise resources.
Summary
Mets owner Steve Cohen has publicly committed to retaining David Stearns as President of Baseball Operations through the completion of his five-year contract, which extends through 2028. In remarks to Newsday's Laura Albanese, Cohen stated that Stearns "will not only retain his job, but live out his five-year contract," and emphasized his intent to "give Stearns a chance to turn the franchise around." This declaration comes amid significant organizational distress, with the Mets' 2025-2026 performance deteriorating substantially from their 2024 near-World Series run.

Cohen's support, however, is decidedly conditional and qualified by acknowledged dissatisfaction. He characterized the team's current trajectory as a "mixed record," refusing to concede that results are "going great." Cohen attributed recent underperformance to "a confluence of events—underperformance, injuries, numerous off-season changes, and perhaps an underestimation of the human element of the game." The owner specifically credited 2024 performance as contextual evidence for Stearns' retention, asking rhetorically whether prior success "get[s] any credit" and does "not count," suggesting he views the executive's tenure holistically rather than through a single season lens.

However, Cohen established explicit performance thresholds for future decision-making, stating: "If we get to Year 5 and our performance continues to suffer, at that point everything is fair game." This language signals that while Stearns' position is secure in the near term, sustained underperformance will trigger organizational restructuring. The Mets' recent firing of manager Carlos Mendoza—the first major move of the Stearns administration—underscores active management changes despite Stearns' retention. According to Sherman's analysis for the New York press, the roster has increasingly reflected Stearns' personnel decisions, yet results have deteriorated year-over-year, with critics citing "poor use of money and farm collateral" alongside disappointing adjustments by newly acquired players such as shortstop Bo Bichette and pitcher Freddy Peralta. The franchise's trajectory suggests that while Cohen has not lost confidence in Stearns' strategic vision, operational execution and player development remain focal points for institutional scrutiny.

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Sportsbusinessjournal N.Y. Mets owner Steve Cohen back David Stearns but still displeased with team performance