Fri, 27 Nov 2020

Report: A-Rod group advances in bid to buy Mets

Field Level Media
15 Jul 2020, 05:19 GMT+10

Billionaires Steve Cohen and Josh Harris, a contingent led by Alex Rodriguez and a fourth unidentified group have advanced to the next level of bidding to purchase the New York Mets, Sportico reported on Tuesday.

Investment bank Allen Co., which is overseeing the sale process, informed the respective groups of their status.

Per Sportico, the groups were told not to submit offers on the team's regional sports network (SNY), which is not part of the sale.

The New York Post reported that Cohen submitted a $2 billion bid in the opening round. The hedge fund titan, who already owns an 8 percent stake in the team, reportedly also bid $2 billion for the network.

Harris is the principal owner of the NHL's New Jersey Devils and NBA's Philadelphia 76ers.

Rodriguez is backed by Florida Panthers owner Vinnie Viola and Vitaminwater co-founder Mike Repole.

Per ESPN, Rodriguez and fiancee Jennifer Lopez added Pro Football Hall of Fame linebacker Brian Urlacher, Super Bowl champion Travis Kelce, former NFL running back DeMarco Murray and retired offensive lineman Joe Thomas as investors in the bid. Also, the NBA's Bradley Beal (Washington Wizards) and Mason Plumlee (Denver Nuggets) are included in the group.

In April, Forbes placed the Mets' value at $2.4 billion, a 4 percent rise from last year. The Mets ranked sixth on Forbes' list of values for Major League Baseball teams, trailing only the Yankees ($5 billion), Los Angeles Dodgers ($3.4 billion), Boston Red Sox ($3.3 billion), Chicago Cubs ($3.2 billion) and San Francisco Giants ($3.1 billion).

--Field Level Media

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