Two big names might soon be in the mix for the Mets.
According to Variety, former Yankees star Alex Rodriguez and recording artist and actress Jennifer Lopez, his fiancé, have retained JPMorgan Chase to “raise capital for a possible bid on the Mets.” The report said the couple is working with managing director Eric Menell, the bank’s co-head of North American media investment banking.
In December, Sterling Partners — owned by the Wilpons — said it was in talks to sell the team to hedge fund billionaire Steven Cohen. The family could have sold up to 80% of the team.
One condition the Wilpons mentioned in their original statement: Upon completion of a sale with Cohen, Fred and Jeff would still hold their current titles for the next five years. Outsiders wondered what this meant.
Would they use that as a graceful exit? Did they still want control of baseball operations for five years.
Well, it never got there.
Days before Mets pitchers and catchers reported to spring training, the deal died. No sale.
On report day, the family issued a statement saying it still intended to pursue a sale. It has not spoken publicly on the matter since.
Rodriguez and Lopez, a Bronx native, are estimated to be worth $750 million. This is where raising money enters the picture.
In November, John Sherman bought the Kansas City Royals for $1 billion.
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