Alex Rodriguez And Jennifer Reportedly Taking Steps To Buy The New York Mets
Honestly, this makes perfect sense. I can see it. Two iconic New Yorkers who have been A-List celebrities for decades coming together late in life to energize the city by buying the beleaguered New York Mets and turning the franchise around.
A-Rod has mentioned in the past that he’d jump at the chance. As a guest on The Tonight Show Starring Jimmy Fallon back in March he dropped “I will say this, if the opportunity (to buy the Mets) came up, I would certainly look at it,” and it appears as if that opportunity might be coming to fruition because there are reports he and J-Lo have retained a top-tier investment banker to raise capital for a purchase of the Mets.
Somehow every sports media outlet in the world was snaked by Variety with this news:
Retired baseball star Alex Rodriguez and his fiancé, recording artist and actor Jennifer Lopez, have retained JPMorgan Chase to raise capital for a possible bid on the New York Mets, people familiar with the matter said.
The superstar couple is working with managing director Eric Menell, the bank’s co-head of North American media investment banking, said the people, who were granted anonymity because the matter is private. Menell didn’t respond to several requests seeking comment.
It isn’t uncommon for an athlete, entertainer or celebrity to hold a limited position in a professional sports team. A-Rod’s former teammate, Derek Jeter, for instance, is a part owner of baseball’s Miami Marlins. The team’s managing partner is venture capitalist Bruce Sherman, while Jeter, who owns about 4% of the club, runs business and baseball operations. Jeter contributed about $25 million to the purchase of the team, which was sold for $1.2 billion. (via Variety)
Jennifer Lopez and Alex Rodriguez have a combined net worth of around $700 million which is a metric ass ton of cash but the Wilpons have run the Mets into the ground and the team LOSES $50 million a year despite calling New York City home and being one of the most beloved franchises in baseball.
As I said before, I can see this happening. Not that it means anything, but I can visualize this being a great fit for the city of New York.
For more on this, you can click here to head on over to Variety.