What Lessons Could New Jersey Devils Ownership Learn From Steven Cohen
When billionaire hedge fund tycoon Steven Cohen bought the New York Mets, Cohen told the fans that he wanted to build something special in Queens. He was a diehard Mets fan, pushing someone who looked at the team as more than dollars and cents in the front office. Almost immediately, Cohen engaged with Mets fans. During a live Zoom interview, he told the story of how he obtained ownership of the actual baseball that got through Red Sox first baseman Bill Buckner in Game 6 of the 1986 World Series. On social media, Mets fans immediately adored their new savior and affectionately nicknamed him, “Uncle Steven”.
When it comes to the New Jersey Devils, the love for ownership isn’t the same. Joshua Harris and David Blitzer aren’t interacting with fans like Cohen. That doesn’t mean they can’t look across the river and learn a thing or two. Here are a few lessons the Devils can learn from Mets ownership.
Be A True Fan
Since Cohen stepped onto the big stage, he was honest with Mets fans and promised to do his best to give the Mets a chance at winning. In his introductory press conference as owner, Cohen wanted to build a winning culture immediately. He said, “I’m not in this to be mediocre”. And followed up by saying, “I don’t want to just get into the playoffs. I want to win a championship”.
The new Mets owner was “all in” and this immediately resonated with the diehard Mets fans. They had the confidence that the ownership group will do whatever it takes to win. Especially when Cohen set the timeline by stating that he would “consider that slightly disappointing” if the Mets did not win the World Series in 3-5 years.
When the Devils ownership led by Harris and Blitzer initially bought the team in 2013, it honestly felt like Devils fans were watching a corporate boardroom meeting at their introductory press conference. To their credit, Harris and Blitzer said the right things, but the tone was more of a transactional business acquisition than getting fired up to win the Stanley Cup. It is important for Harris and Blitzer to become true Devils fans and be passionate about their team like any entrepreneur developing their own unique product. Otherwise, they’ll always remain out of touch with the New Jersey Devils fanbase.
Truly Engage With Fans
When Steve Cohen began his own Twitter account, he started to engage with the Mets fans directly. He brought his sense of humor but was always honest with his fellow fans. Mets fans would even ask him the tough questions like when the organization had to endure the embarrassing hiring and firing of Jared Porter. Cohen always responded frankly and has been consistent with his mission of making the Mets a winner.
Cohen would ask for suggestions on Twitter on how to make the Mets fan experience better. Some of these suggestions actually came into fruition such as bringing back the 2000s-era black Mets jerseys on Friday games.
Devils fans, especially season ticket holders, get bombarded with endless surveys and focus group meetings or telephone calls. Nobody asked for our opinion about the ugly black “Jersey Jersey”. Since then, we have had to endure their relentless marketing campaigns in their attempt to go mainstream with celebrities by featuring this market study product, such as at the VMAs. You are not going to attract new Devils fans to the team when you can’t even get your own fanbase onboard. Keep it simple by engaging what the Devils fans really want instead of asking the fanbase to be more patient!
Focus On Winning
To the credit of the Devils, they are finally spending money and now are at the salary cap ceiling. For the first time in the Harris/Blitzer tenure, we actually see a financial commitment towards winning. Devils GM Tom Fitzgerald did land the big free agent prize in 2021 when he signed defenseman Dougie Hamilton like how the Mets GM Billy Eppler signed free agent pitcher Max Scherzer. This is a good start for the Devils, but the ultimate goal is to win the Stanley Cup, not just make the playoffs. Winning solves everything.
Can Harris and Blitzer realistically emulate and follow Steve Cohen’s Grand Experiment? Well, they do have a lot in common. All three are wealthy hedge fund moguls and have applied analytics to their respective franchises. Coincidentally, HBSE did try to bid for the Mets and came close to purchasing the team. But if the Devils organization actually listens and measures the pulse of the fanbase rather than manufacturing phony corporate marketing gimmicks, the Devils fan experience will draw more fans into the Prudential Center with the expectation that the Devils will win the Stanley Cup each year.
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As Uncle Steven says, “I’m ready for the challenge. I’m all in here.”