Sources: Repole understands A-Rod in control of Amazin’s deal
Alex Rodriguez and his advisers were upset when they learned that potential Mets co-investor Mike Repole wanted to be a general partner of their bidding group, but Repole apparently understands that A-Rod is still the captain, sources said.
Multiple reports on Monday said Repole was investing money with A-Rod’s group and was going to be a general partner.
Major League Baseball only allows one controlling party per team. The rest of a team’s owners are typically considered limited partners even if they have a say in operations.
Vitamin Water cofounder Repole and Florida Panthers owner Vinny Viola are deep in talks to invest a com- bined $250 million with A-Rod and Jennifer Lo- pez in their bid for the
Mets. Nothing has been finalized. Repole and
Viola want a meaningful say in operations, sources said.
However, they understand that MLB typically only allows one control person and that will be A-Rod, multiple sources told The Post.
If A-Rod and J.Lo are married, then the cou- ple may become the control party, sources said.
J-Rod is prepared to invest hundreds of millions of their own money in the offer, sources said, putting them on near equal footing financially with Repole and Viola.
Viola could afford to put much more into a Mets transaction but is not planning to at this time, sources said.
“J-Rod has a vision for what they want to do with the franchise,” said one person familiar with J-Rod’s thinking. “I don’t think their plan is to take a Jeter deal from two guys putting up only $250 million.”
In 2017, Derek Jeter invested $25 million in a $1.2 billion bid to buy the Miami Marlins. That deal left billionaire financier Bruce Sherman as the controlling partner of the team, with Jeter owning 4 percent while serving as the face of the franchise and CEO of the team.
The J-Rod bidding group, if it now has $500 million in cash, will need to have more equity in order to finance an expected bid of between $1.4 billion and $2 billion for the Mets.
Other possible investors are not yet known.
A Steve Cohen deal for the Mets collapsed earlier this year over the Wilpons wanting to maintain their position as the Mets controlling party over a five-year ownership transition period.
Meanwhile, Variety reported Tuesday that the Reuben Brothers were interested in buying the Mets.
Instead, Londonbased David and Simon Reuben, worth a combined $12 billion, are likely interested in buying the real estate around Citi Field from the Wilpons and not the team, two sources close to the situation said.
Recently, the Reubens have started buying trophy properties in NYC.
The Reuben brothers made their fortune during the bloody aluminum wars of 1990s Russia. These guys are not scandal free.
“They will never give MLB their tax returns,” one of the sources said.
However, the Wilpons could sell them real estate rights without going through MLB, giving them liquidity if they don’t like the J-Rod bid or a possible competing proposal from 76ers owners Josh Harris and David Blitzer, the sources said.
The Reubens are likely something of a backup plan, the sources said.
Presently, the Reubens are part of a group bidding for British soccer team Newcastle United and would be taking a minority stake in the team.
The Post reported a few weeks ago that there was a mystery international bidder for the Mets and that appears to be the Reubens.