Lodi News-Sentinel

7 groups qualify as bidders to buy the Mets, including Rodriguez and Lopez

-

NEW YORK — The entangled race to buy the Mets is rapidly escalating.

Major League Baseball has approved seven groups as qualified bidders for the Mets, according to a Tuesday morning report from Sportico.

Known bidders include Alex Rodriguez and Jennifer Lopez’s group, which consists of Vitaminwat­er co-founder Mike Repole and Florida Panthers owner Vinnie Viola. Rodriguez and Lopez hired JPMorgan Chase in April to raise money for their possible bid. But, because the couple does not have enough money to buy the Mets on their own with a combined net worth of $700 million, Rodriguez and Lopez need help from billionair­e investors like Repole and Viola.

Devils and 76ers owners Josh Harris and David Blitzer — who have a combined net worth of $5.1 billion — are also reportedly in the mix.

Brothers David and Simon Reuben are reportedly exploring a bid for the team, according to a Variety report. The tycoons are worth a combined $14 billion and are more interested in the real estate opportunit­ies around Citi Field. In April, Bloomberg reported the Reuben brothers’ purchase of a retail condominiu­m around Rockefelle­r Center in Manhattan as a step towards growing their enterprise in New York.

The Mets — valued at $2.4 billion as of April — have been for sale since February, when the team’s current ownership group in Fred and Jeff Wilpon had a $2.6 billion deal with hedge fund billionair­e Steve Cohen that fell through two months after they announced they were negotiatin­g a sale. The Mets hired Allen & Co. to oversee the process in the same month.

Jeff Wilpon confirmed during a June panel discussion that “the team will have some kind of transactio­n.” He added, “I can’t tell you exactly what it’s going to be and how it’s going to look.”

Newspapers in English

Newspapers from United States