In 1980, he was instrumental in the company's decision to buy the New York Mets baseball team from the Payson family, putting up 80% of the $21.1 million price tag and became chairman of the board of the Mets. The remaining 20% came from partners City Investing Corporation and Fred Wilpon. Wilpon and Doubleday put in an additional $20 million over the next three years to rebuild the franchise. The pair built the franchise into a pennant contender in 1984 and 1985 and winning the 1986 World Series title. The team also saw attendance rise significantly and earn $6 million.