Jennifer Lopez and Alex Rodriguez reportedly are working with JPMorgan Chase to raise capital to possibly buy the New York Mets.
Sources with knowledge about the situation shared with Variety magazine in a piece published Monday, the 50-year-old pop singer and her fiance, the former New York Yankees’ slugger,
are working with managing director Eric Menell, the bank’s co-head of North American media investment banking, to raise money so they can make a bid for the team. (RELATED: 25 Times Jennifer Lopez Proved She Doesn’t Age [SLIDESHOW])
JUST IN | Alex Rodriguez and Jennifer Lopez want to buy the Mets. https://t.co/Mz2XYqnwb8
— New York Daily News (@NYDailyNews) April 21, 2020
The Wilpon family, which currently owns the NL East team, has been looking to sell a majority of the share of the team since December. (RELATED: Celebrate Anna Kendrick’s Birthday With Her Hottest Looks [SLIDESHOW])
According to the report:
The Wilpon family, which owns the Mets, said in December they were in talks to sell up to 80% of the Major League Baseball team to hedge fund titan Steve Cohen in a deal that valued the club at $2.6 billion. Under terms of that proposed deal, the Wilpons would’ve maintained control of the franchise for five years.
After Cohen sought to change the terms the deal fell apart, leaving the family looking for buyers.
The “Jenny From The Block” hitmaker and A-Rod would require partners in order to make the deal happen, as their reported combined net worth is around $700 million.
Rodriguez is a former Yankee player who won a World Series with the team and Lopez grew up in the Bronx, the home of Yanks, so the power couple’s interest in the team is definitely drawing attention.