Alex Rodriguez and his fiancee, Jennifer Lopez, a world-renowned entertainer, are looking to raise capital in an attempt to make a bid to purchase a stake in the New York Mets, Variety reported Monday.
According to the report, Rodriguez and Lopez have retained JPMorgan Chase in their quest for partners.
Billionaire and minority owner Steve Cohen’s attempt to buy an 80 percent stake of the Mets for $2.6 billion fell through in February after Mets owner Fred Wilpon reportedly changed the terms of the deal at the 11th hour. Under the construct of that deal, Cohen would have taken control of the club in five years. No such clause would be part of this deal, Variety reported.
Cohen, 63, paid $40 million for an 8 percent stake of the Mets in 2012.
The Mets are utilizing Allen & Co.’s Steve Greenberg to manage the any potential sale.
The combined net worth of Rodriguez and Lopez is around $700 million, per Variety.
Forbes currently lists the Mets’ value at $2.4 billion, which ranks sixth among Major League Baseball teams, trailing only the New York Yankees ($5 billion), Los Angeles Dodgers ($3.4 billion), the Boston Red Sox ($3.3 billion), Chicago Cubs ($3.2 billion) and the San Francisco Giants ($3.1 billion).
