Alex Rodriguez and Jennifer Lopez reportedly aren't giving up on their desire to purchase the New York Mets.
While the power couple's first attempt at acquiring the team recently fell apart, they are now working with JPMorgan Chase (NYSE:JPM) bankers to produce a second bid, the New York Post reported Friday night.
The newspaper cited anonymous sources saying that actress-singer Lopez and retired baseball star Rodriguez are willing to invest "hundreds of millions" out of their pockets to acquire the Mets.
Per the Post, the Wilpon family, who own the Mets, are growing more eager to unload the team as their finances take a hit due to baseball's shutdown during the coronavirus pandemic. The newspaper added that the Wilpons are now willing to package SNY, the Mets' cable network, for sale along with the club.
The Wilpons' previous unwillingness to include SNY in the deal helped sink the first bid from Rodriguez and Lopez, according to the Post.
The Wilpons initially were reported to be shopping the Mets in December, when billionaire hedge-fund founder Steve Cohen attempted to acquire 80 percent of the team. Cohen already was a minority owner of the team.
Cohen announced in February that his bid to gain controlling interest had failed, news that was followed shortly by reports of interest from Rodriguez and Lopez.
Last month, Forbes placed the Mets' value at $2.4 billion, a 4 percent rise from last year. The Mets' ranked sixth on Forbes list of values for Major League Baseball teams, trailing only the New York Yankees ($5 billion), Los Angeles Dodgers ($3.4 billion), Boston Red Sox ($3.3 billion), Chicago Cubs ($3.2 billion) and San Francisco Giants ($3.1 billion).
Rodriguez, 44, was a three-time Most Valuable Player and 14-time All-Star in a 22-year major league career that included stints with the Seattle Mariners (1994-2000), Texas Rangers (2001-03) and New York Yankees (2004-13). His career accomplishments were tarnished by his admitted use of performance-enhancing drugs.
Lopez, 50, has enjoyed success as both a movie star and a singer. Fox Business reported in February that her net worth is between $225 million and $400 million, with Rodriguez's net worth estimated at $300 million to $350 million.
--Field Level Media
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Date: 29/05/2020 23:40
Word Count: 365
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Source: FIELD LEVEL MEDIA
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