Mr. Jennifer Lopez Alex Rodriguez is reportedly “fuming” over losing out in his bid to buy the New York Mets. According to a report in the New York Post, multiple sources are implying that the Mets took steps to block his bed.
Billionaire investor Steven Cohen, the founder of Point72 Asset Management, had been close to sealing a deal earlier this year. He then offered $2.6 billion for the team. But that deal fell apart when Fred Wilpon could not get Cohen to agree to allow him control over the team for an interim period.
So what did the Mets do? It is alleged that just before the August 31 deadline for submitting bids the New York Mets asked to see what the amount offered by the group led by Jennifer Lopez and Alex Rodriguez was. Steve Greenberg of Allen & Co., a banker who represents the Mets, is said to have made the inquiry. A-Rod, as he is known, had offered $2.3 billion for the team. In the end, Steve Cohen beat him out by just $50 million.
The new deal for the Mets includes $1.6 billion in cash. The rest of the money will be used to pay off the team’s debt and loses this season incurred due to the Corona Virus.
Sources close to Rodriguez said that he would have upped his offer had he known the other side’s bid.
It is not surprising, though, that the Mets did not want to sell to A-Rod. And Mets fans surely did not want him as the owner either. Rodriguez was disgraced and suspended for a full season from Major League Baseball in a scandal involving performance-enhancing drugs. And he never exactly endeared himself to New Yorkers when he played for the Mets’ crosstown rival the Yankees.
No sale is final, however, until the owners of MLB teams agree to the deal.
Read more about: New York Mets, Point72 Asset Management, Steven Cohen
