Is J-Rod on the verge of buying the Mets? Alex Rodriguez, his wife Jenifer Lopez, and their group of investors are the “clear-cut favorite to purchase the Mets.” This comes from “several MLB executives” according to USA Today’s Bob Nightengale.
Several #MLB executives believe that the Alex Rodriguez ownership group, which has shown it has the money, is now the clear-cut favorite to purchase the #Mets. There's an Aug. 31 deadline to provide the best and final bids, according to Sportico.
— Bob Nightengale (@BNightengale) August 16, 2020
The Bidders
The bidding war for the New York Mets has been one of the more publicized showdowns in sports history. The battle is currently between two bidding groups with vastly different approaches. Hedge fund billionaire Steve Cohen has a limited, but very strong group of investors. They include Devils and 76ers owners Josh Harris and David Blitzer.
“J-Rod”, made up of Jenifer Lopez and Alex Rodriguez opposes Cohen. They have brought in many investors, who primarily are not billionaires, and are young athletes. Among them are Hall of Fame NFL linebacker Brian Urlacher, Kansas City Chiefs tight end Travis Kelce, NBA All-Star guard Bradley Beal, and former NFL star running back DeMarco Murray. In addition, Florida Panthers owner Vincent Viola and Vitamin Water co-founder Mike Repole have recently joined the group.
The Bids
Reports say Steve Cohen currently has the highest bid at $2 billion. The last bid by Rodriguez and Lopez’s group was $1.8 billion.
Fred Wilpon, the current owner of the Mets, has been especially pressured to sell the team in recent months after controversies surrounding attempted transactions. Cohen made a push to buy a majority of the team last year, but the Wilpon family decided not to make a deal. Finally, it appears a deal is coming to fruition, but there is still a long way to go.
The New York Post reported that Lopez and Rodriguez had a meeting with New England Patriots owners Robert and Jonathan Kraft last month. They discussed a partnership in the works for Citi Field and the development of its surrounding areas, including Willets Point. The Post also reported that “J-Rod” was accompanied in their meeting “by senior bankers from JPMorgan Chase’s private wealth group, including Mary Callahan Erdoes, CEO of the bank’s Asset & Wealth Management group.”
The thought of J-Rod buying the Mets is certainly gaining steam. Rodriguez and Lopez are continuously finding investors. Most recently they added Joe Thomas, future NFL Hall of Fame offensive lineman. Bids are due in 15 days.
Main Image
Embed from Getty Images
