ARod and JLo Looking to Buy Mets
Former Yankees superstar Alex Rodriguez and his fiance Jennifer Lopez are raising money to purchase the Mets. The power couple has retained JP Morgan Chase and will be working with Eric Menell, the bank's co-head of North American Media Investment.
Forbes estimates that the Mets are worth roughly $2.4 billion, which makes them the sixth most valuable team in baseball.
Earlier this year, Steve Cohen was looking to buy majority ownership from the Wilpon family for $2.6 billion. Cohen and the Wilpons entered negotiations in December that would have given him 80% stake in the franchise. The hedge-fund manager ,valued at $13.7 billion, is currently a minority owner with an 8% share of the Mets.
Rodriguez was one of the highest earners in pro sports history. He earned $317 million in his contracts before including his endorsement deals and post playing work. Lopez's net worth is estimated at about $400 million, which pushes their combined net worth to over $700 million.
ARod and JLo will need to clear many steps to end up purchasing the Mets and the most difficult part may be getting through current Mets ownership.