Jennifer Lopez and Alex Rodriguez Are Reportedly Trying to Buy the Mets
You know, just a casual $2.6 billion investment ...
Jennifer Lopez and Alex Rodriguez may be housebound, but they’re still plenty busy. Their schedule is filled with all the typical quarantine activities: Put on a live benefit concert, attend a virtual dance party with your ex-boyfriend, ponder investing in a Major League Baseball team …
According to Variety, Lopez and Rodriguez, who got engaged over a year ago, are working with JPMorgan Chase to “raise capital for a possible bid on the New York Mets."
Unlike designer duds and sports cars, baseball teams aren’t the sort of rich person investment you can just drop money on and collect. A-Rod and J. Lo are wealthy, make no mistake — their combined net worth is around $700 million — but they aren’t “look honey, I bought the Mets” wealthy.
The team is currently valued at $2.6 billion and owned by real estate developer Fred Wilpon and his family. In December, the Wilpons were in talks to sell 80% of their holdings to hedge fund manager Steve Cohen, but the deal fell apart.
While Rodriguez, a former MLB player, has never played for the Mets, he almost signed with them back in 2000. Instead, he took a $252 million 10-year deal from the Texas Rangers. In 2004, he was traded to the New York Yankees. He stayed with the team until his retirement in 2016.
Just last month, Rodriguez appeared on The Tonight Show with Jimmy Fallon and told the host, if the opportunity to purchase the Mets arose, he’d “certainly look at it.”