Alex Rodriguez And Jennifer Lopez Are In Talks To Buy The New York Mets
Alex Rodriguez and Jennifer Lopez make movements. Rodriguez has expanded his real estate portfolio and invested in companies (both on and off Shark aquarium). Meanwhile, Lopez starred in the Super Bowl halftime show and won several awards for his performance in the blockbuster film. Hustlers. Now the power couple are teaming up for a potentially huge deal.
A-Rod and J-Lo have retained JPMorgan Chase to raise capital for a possible New York Mets bid. The Wilpon family, the current owner of the team, were in talks to sell up to 80% to Steve Cohen, a billionaire hedge fund. The deal valued the club at $ 2.6 billion, but negotiations failed after Cohen attempted to change the terms.
So now the way is open for A-Rod and J-Lo to be part of an ownership group. Rodriguez can follow the path of his former Yankees teammate Derek Jeter, who owns about four per cent of the Miami Marlins. Jeter contributed approximately $ 25 million to buy the team as a member of the venture capitalist Bruce Sharman. Jeter directs the team’s baseball and business operations.
If A-Rod and J-Lo want to follow a similar path, they will also need a partner to help them cope with the money. The couple’s combined equity is around $ 750 million.
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However, some baseball insiders don’t see a way for Rodriguez to have a team. Jon Heyman of MLB Network even reported that an executive said that the chances of Rodriguez receiving enough money to buy a team are “zero”.
There is some skepticism about A-Rod with the funds to buy the Mets. Referring to the $ 2.6 billion price, a baseball executive said, “The chances of someone giving him that kind of money are zero.”
– Jon Heyman (@JonHeyman) April 21, 2020
While Jeter came with the dollar to buy the Marlins, and A-Rod has a wealthy partner (J-Lo), a baseball / A-Rod skeptic pointed out the differences: 1. The Marlins are not the Mets ( at 1.2B, they cost about half) 2. The time to raise $ is not good, and 3. Jeter’s representative is blank.
– Jon Heyman (@JonHeyman) April 21, 2020
The couple is only looking to invest a little money, so they are looking for partners who could save $ 25 million to $ 50 million. Could it be more difficult than expected?
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One thing that weighs in favor of A-Rod and J-Lo: despite the collapsed $ 2.6 billion deal, the team can be worth even less. Darren Rovell estimates that the Mets have a valuation closer to $ 1.6 billion.
Whoever ends up buying the Mets, the Wilpons will make a big profit. They took control of the franchise in 2002; the team was only worth $ 391 million at the time.
Rodriguez and Lopez both have closer ties to the Yankees
Growing up, Rodriguez had always taken root for the Mets. When they won the World Series in 1986, he was among the fans in Manhattan. He even nearly signed with the team in 2000 before signing a ten-year, $ 252 million contract with the Rangers.
Now he is blessed with his favorite team when he was a child. How many of us can say the same?
