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.

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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.

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