It is anticipated that the New York Mets‘ purchase of the Syracuse Chiefs (Class AAA; International League) will be completed soon, with the Mets expected to take control of the club this month.
The Mets have been working to complete their purchase of the Chiefs for $18 million. In a major step toward finalization, the Chiefs shareholders voted in November to approve the sale, with 88% of the votes going in favor of the transaction.
By purchasing the Chiefs, the Mets will eventually be able to bring their Class AAA affiliation–currently with the Las Vegas 51s (Class AAA; Pacific Coast League)–closer to their home base in New York. Additionally, the Mets have indicated that they are committed to keeping the Chiefs at NBT Bank Stadium through 2025. The sale is expected to be completed later this month, likely no later than December 15. More from Syracuse.com:
Chiefs General Manager Jason Smorol said the team has been sending new stock certificates to verified claimants for the past few weeks.
The team has said it expects the sale to the Mets to occur no later than Dec. 15. Soon afterward, shareholders will receive a letter starting the team’s process of collecting their stock certificates and disbursing the proceeds of the sale, Smorol said.
He said the merger may be completed before the team’s Hot Stove Dinner Dec. 8 at the Oncenter. Former Mets stars Mookie Wilson, Edgardo Alfonzo, Tim Teufel and Ron Darling are scheduled to attend the event, which is expected to draw up to 800 people.
The Chiefs are affiliated with the Washington Nationals through the 2018 season, an arrangement that is expected to continue. Under baseball rules, both sides need to opt out of a player-development contract (PDC) for any changes, and there’s simply no incentive right now for the Nats to opt out of a PDC for what could be potentially only a one-year tenancy in Las Vegas.
Once the switch in affiliation switch does take place, likely for the 2019 season, it will give the Mets a nice contingency of farm clubs in New York, with the Chiefs joining a group that presently includes the Brooklyn Cyclones (Short Season A; NY-Penn League) and Binghamton Rumble Ponies (Class AA; Eastern League). Both the Mets’ PDC with Las Vegas and the Nationals’ agreement with Syracuse are set to expire after the 2018 season.