X

Report: Alex Rodriguez, Jennifer Lopez, Mets Buyers' Best Bids Due by August 31

Paul KasabianSenior ContributorAugust 12, 2020

Actress Jennifer Lopez, left, and former major league baseball player Alex Rodriguez watch a baseball game between the New York Yankees and the Baltimore Orioles, Saturday, March 30, 2019, in New York. (AP Photo/Julie Jacobson)
Julie Jacobson/Associated Press

Bidders must submit their final offers to purchase the New York Mets by August 31, per Scott Soshnick of Sportico.

Allen & Co, a privately held boutique investment bank, is overseeing the sale.

Per Soshnick, Allen & Co emailed a letter to the bidders, who include a group led by ex-MLB star infielder Alex Rodriguez and fiancee singer/actress Jennifer Lopez.

A group consisting of Apollo Global Management co-founder Josh Harris, who is the principal owner of the New Jersey Devils and Philadelphia 76ers, is also in the mix.

The same goes for a group guided by billionaire hedge fund manager Steve Cohen, who nearly bought the Mets in December 2019 before talks broke down.

Forbes valued the Mets at $2.4 billion in April 2020. However, Soshnick reported that initial bids were around the $2 billion range. New York and other MLB franchises are losing revenue this season because of the shortened 60-game slate sans fans amid the COVID-19 pandemic.

At least 23 MLB owners must approve a franchise sale, per Soshnick.

Cohen reportedly had the highest offer to buy the team following the first round of bidding, per Deesha Thosar of the New York Daily News, with a $2 billion bid for the team and an additional $2 billion to purchase SNY. The group with Lopez and Rodriguez reportedly made a bid around $1.7 billion.

Video Play Button
Videos you might like

Harris' group's offering amount was "unclear," per Thosar, who also called Cohen the "favorite" to ultimately purchase the team.

The Mets' majority owner is Fred Wilpon, who has held a stake of varying percentages in the team since 1980.

slash iconYour sports. Delivered.

Enjoy our content? Join our newsletter to get the latest in sports news delivered straight to your inbox!