Alex Rodriguez and Jennifer Lopez Make Big Announcement
The former baseball superstar, Alex Rodriguez, and his equally famous and talented fiance, Jennifer Lopez, may be looking to buy the New York Mets baseball franchise. The couple have reportedly retained the JPMorgan Chase company to raise capital for a potential bid on the New York Mets baseball team, according to Variety.
The current owners of the New York Mets, the Wilpon family, had been in talks with hedge fund heavyweight Steve Cohen last December to sell the Mets, but the deal eventually fell through. The proposed deal valued the New York Mets at a whopping $2.6 billion.
Even with the extensive careers of both A-Rod and J-Lo, the pair only has a combined net worth of about $700 million. The only way they will be able to purchase the team will be with additional financing, which is apparently underway.
This isn’t the only recent example of a former Yankee player involved in buying a Major League Baseball team. Hall-of-fame shortstop and A-Rod’s former teammate, Derek Jeter, recently became partial owner of the Miami Marlins. The final purchase price for the Marlins was $1.2 billion, that’s not even half the price of the Mets valuation.
Only time will tell if Alex Rodriguez and Jennifer Lopez will be able to make a deal for ownership of the Mets.