24 Apr

Jennifer Lopez and Alex Rodriguez Taking Steps to Buy New York Mets

According to Variety, Jennifer Lopez and Alex Rodriguez are taking big steps to buy the New York Mets by retaining JPMorgan Chase to raise capital for a possible bid.

A source close to the situation revealed that the superstar couple is working with managing director Eric Menell, the bank’s co-head of North American media investment banking. To give an idea of how much it will take for J.Lo and A-Rod to buy the Mets, the Wilpon family, who owns the team, were in talks to sell up to 80% of the Mets to hedge fund titan Steve Cohen in December 2019. While the deal fell through after Cohen sought to amend the terms, it was revealed that the team was valued at $2.6 billion. This would mean J.Lo and A-Rod would need wealthy partners to pull off the deal, as their combined net worth is a reported $700 million.


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