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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.

Tomas Eidsvold/ via Upsplash / Upsplash

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.

Tom Brady “Cited” During COVID19

If you are one to scour reddit and social media for bits and pieces of news you would be amiss to believe what you saw without questioning it first. Take this post for instance:

Fake news can be rampant on Reddit.

A first glance, one would be led to believe that Tom Brady was cited for trespassing in a public park in the Tampa Area for violating city or state emergency ordinances. In fact, the exact opposite is happening in this case. If you were to read the first few sentences of the news article on CNN it would become immediately clear what was going on here.

According to Joe Sutton and Hollie Silverman of CNN, Tom Brady was sighted (not cited) by park staff while patrolling the park on their shift. Case closed, why must social media push false narratives and get people upset over nothing.

Looking at the top comments of the post it is clear most people only read the title and jump straight to conclusions. This promotes false information and incites people into thinking something that isn’t true.

The Hidden Cost of Cancellation

With the current state of a world entrenched in warfare with an invisible enemy we look at the hidden cost of a pandemic. Everyone knows about the big highlighted economic issues surrounding the US. The big ones being unemployment, the stock market and main street America, but what happens when a pandemic causes the cancellation of major events or cancellation of an entire sports season. What the general public sometimes fails to recognize is the behind the scenes operation of putting on a major events like the super bowl, the college football playoff or the behind scenes work that goes into putting on the NFL season. With these events come dependents on the event itself. What these are the contractors that are hired to run the event, set up the event, market the event, the vendors at the event, the tv and/or radio stations that will be broadcasting the event. These companies/vendors rely on the event as part of their overall budget and when the events get canceled that revenue is lost. This forces the companies to adjust their budget to account for the loss of revenue by laying people off and cutting other operational costs to stay afloat. Another hidden cost of the event/season cancellations are the overall economic impact to the local economies that were scheduled to host them. Take for example the effect on the City of Spokane when the NCAA tournament was cancelled. Experts estimate the economic impact in this event-less March alone will be a deficit of roughly $20 million. Organizers say they will lose at least $3.4 million just in tax revenue; the city projects a $6 million sales tax hit on its initial projection of $53 million in 2020. These are staggering numbers and is only one example in a pool of many. This is only one example of many cities that have been impacted similarly. Another example is the impact of the cancellation of SXSW festival. How many vendors lost out on the revenue they were counting on as part of their budget or how many stage setup crews lost their job due to the cancellations? Overall the national economic impact of the coronavirus has been staggering with the stock market plunging to near 2008 levels, but what also needs to be understood are the hidden cost when a pandemic hits a country causing widespread cancellation.

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