Alex Rodriguez and Jennifer Lopez are making another attempt to buy the New York Mets, according to Yahoo Sports. A report saying the couple are having another go after a failed run last month started making the rounds on Friday afternoon.
The report said the power couple is teaming up with JPMorgan Chase bankers in order to try and make this second bid work out. Anonymous sources reportedly told the media Rodriguez and Lopez are looking to pool their money with the bank and are willing to invest “hundreds of millions” of dollars into getting the Mets.
Rodriguez and Lopez are apparently a little more hopeful this time around because of the current owners’ interest in selling. The Wilpons are reportedly eager to reach a deal with someone, as long as the purchase price is something they can abide. Ownership of the Mets is losing more money every day due to the coronavirus-induced shutdown, and that is making them more eager to find a buyer, according to numerous reports.
The Wilpons have reportedly been trying to sell the Mets since at least December. At that time, Steve Cohen tried to attain at least 80 percent ownership of the team. He already had a small share but wanted to gain a controlling interest. In February, Cohen announced his attempt had failed. Not long after Cohen made his announcement, Rodriguez and Lopez reportedly entered the picture.
Lopez and Rodriguez have a combined net worth of somewhere in the neighborhood of $700 million. It’s not entirely clear how much they are willing to offer for the Mets or what exactly sunk their chances when they attempted to acquire the team last month. Rodriguez has made no secret of wanting to get into baseball ownership, following in the footsteps of one-time teammate Derek Jeter. The former New York Yankees shortstop has a partial ownership stake in the Florida Marlins.
The Mets were valued at more than $2.4 billion last year by Forbes magazine. That value was a 10 percent increase from the year before. The Mets are considered the sixth-most valuable team in Major League Baseball behind 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).
While Rodriguez and Lopez are reported to have enlisted the help of JPMorgan Chase, it’s not clear if there are additional unnamed people who might be a part of the group looking to take ownership of the Mets. There’s also no stated timeline for a resolution and decision from the Wilpons on a sale.