Jennifer Lopez & Alex Rodriguez are raising money in a possible bid to buy the New York Mets
for violations of Major League Baseball’s drug agreement and labor contract.
A-Rod, now 44 years old, earned about $448 million as a player. The 14-time All-Star started his career with Seattle, signed a record contract with Texas in December 2000, and then moved from shortstop to third base when he was traded from the Rangers to the New York Yankees ahead of the 2004 season.
The Mets’ ownership is headed by Fred Wilpon, brother-in-law Saul Katz and Jeff Wilpon’s son Jeff, the team’s chief operating officer. The team said Dec. 4 it was negotiating an agreement with Steve Cohen. The hedge fund manager bought an 8% limited partnership stake in 2012 for $40 million. The deal under discussion would have seen him acquire an 80% controlling share in a transaction that values the team at $2.6 billion, and the Wilpons would have remained in place for five years.
The sides announced the deal’s collapse on Feb. 6, and the Mets owners said they intended to find a new buyer. Allen & Co. represents the Mets owners. Given the drop in equities prices caused by the new coronavirus pandemic, the next few months figure to be a difficult time to raise money for a bid.
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