Wed, 12 Aug 2020

Report: Rodriguez-Lopez make cut with $1.7B bid to buy Mets

Field Level Media
10 Jul 2020, 14:40 GMT+10

Alex Rodriguez and Jennifer Lopez made a $1.7 billion bid to buy the New York Mets, likely good enough to make the cut into the second round of the auction, the New York Post reported late Thursday night.

The Mets set a deadline of Thursday for suitors to submit a bid.

The A-Rod-J-Lo stable of investors - including Florida Panthers owner Vinny Viola - made a bid that was comparable to one made by Josh Harris and David Blitzer, owners of the Philadelphia 76ers and New Jersey Devils. Viola reportedly contributed $200 million to the Rodriguez-Lopez led group.

Billionaire Steve Cohen also reportedly submitted another bid after walking away from his $2.6 billion bid earlier this year. But the Post reports Cohen would have to outbid his nearest competitor by more than $250 million over his tactics in February. Further, Cohen could face a difficult challenge being approved by three-quarters of baseball owners, according to the report.

Rodriguez 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 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.

The Wilpon family, owners of the Mets, will now review the bids and decide how many suitors to invite to a second round, the Post reported.

--Field Level Media

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