Is Alex Rodriguez and Jennifer Lopez’s reported bid to buy the Mets being fueled by Derek Jeter envy or smart business?
The first part can’t be answered with any authority, but the second part appears to be true and kind of confirms the first part.
MORE: A-Rod teased Mets interest with Fallon
Reports on Tuesday said J-Rod is recruiting Quogue Capital founder Wayne Rothbaum for their ownership group. Rothbaum co-led a group with her former Florida Gov. Jeb Bush that wanted to buy the Marlins in 2017.
Sportico reported that Rothbaum has submitted an application to MLB but would prefer to be just an investor rather than a controlling partner.
There were conflicting reports that Miami billionaire Jorge Mas would help back the Rodriguez-Lopez bid. The New York Post speculated that Mas could be the group’s “money guy,” but Sportico reported that he has said no to Rodriguez’s pitch.
A group featuring Jeter and led by Bruce Sherman purchased the Marlins for $ 1.2 billion in September 2017. Jeter, Rodriguez’s longtime Yankees teammate, was installed as the Marlins’ CEO.
Last December, the Wilpon family, the longtime majority owner of the Mets, was close to selling a majority stake in the franchise to minority owner and New York hedge fund giant Steve Cohen. At the time, the franchise was valued at $ 2.6 billion and Cohen was seeking to increase his stake from 8 to 80 percent. The agreement later fell through, reportedly because of disputes over when Cohen could take control of the team from COO Jeff Wilpon.
The Wilpons are still interested in selling, the Post reports, but the baseball economy is now in tatters because of the coronavirus, so the sale price is expected to be way lower for the Rodriguez-Lopez group.
“Alex is gonna get this because of COVID. It’s gonna fall in his lap,” the Post quoted a source familiar with the bid as saying.
Reports on Monday said Rodriguez and Lopez have hired JPMorgan Chase managing director Eric Menell to raise capital for a play on the Mets, the team Rodriguez says he rooted for as a kid.