Wayne Rothbaum Reportedly Interested in Buying Mets Only for 'Fire Sale' Price

Billionaire Wayne Rothbaum is reportedly interested in purchasing the New York Mets, but only at a "fire sale" price of $1 billion, according to Thornton McEnery of the New York Post. 

"I think he likes the idea of $1 billion," one source said. "It's a round number and the Wilpons are not holding any cards without SNY."

Fred and Jeff Wilpon had initially planned to sell the team to Steve Cohen for $2.6 billion but the deal fell through in February. That deal also would not have included SNY, the organization's cable channel owned by the Wilpons.

As McEnery noted, the franchise is now valued at about $1.6 billion after the coronavirus has caused the MLB season to be delayed. The current owners could lose $150 million if half the season is lost because of the pandemic.

This is a dramatic change after the Mets nearly sold to Cohen, a hedge-fund manager worth about $11 billion.

McEnery previously reported the original deal included Fred Wilpon remaining CEO for five years after the sale. The Wilpons then wanted to remain in control after the five-year window, while there was disagreement about the long-term status of SNY.

The Mets remain available for sale, with Alex Rodriguez and Jennifer Lopez reportedly raising capital for a potential bid.

Rothbaum is another option as someone who was previously interested in buying the Miami Marlins before dropping out. 

The Mets would come at a higher price, but it seems the biotech investor will consider a bid if the price stays low.