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  • This is a Variety "exclusive," which means it's not from a sports publication and could very well be a publicity stunt.

    https://variety.com/2020/tv/news/ale...ts-1234585417/

    Alex Rodriguez, Jennifer Lopez Retain JPMorgan to Raise Money for Mets Bid

    By Scott Soshnick

    Retired baseball star Alex Rodriguez and his fiancé, recording artist and actor Jennifer Lopez, have retained JPMorgan Chase to raise capital for a possible bid on the New York Mets, people familiar with the matter said.

    The superstar couple is working with managing director Eric Menell, the bank’s co-head of North American media investment banking, said the people, who were granted anonymity because the matter is private. Menell didn’t respond to several requests seeking comment.

    Representatives for Rodriguez and Lopez did not immediately respond to requests for comment.

    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.

    Negotiations fell apart after Cohen sought to amend the terms.

    The Mets have retained Allen & Co.’s Steve Greenberg to oversee the sale process.

    It isn’t uncommon for an athlete, entertainer or celebrity to hold a limited position in a professional sports team. A-Rod’s former teammate, Derek Jeter, for instance, is a part owner of baseball’s Miami Marlins. The team’s managing partner is venture capitalist Bruce Sherman, while Jeter, who owns about 4% of the club, runs business and baseball operations. Jeter contributed about $25 million to the purchase of the team, which was sold for $1.2 billion.

    A-Rod and J-Lo, as the recording artist is known, would similarly require deep-pocketed partners in order to pull off the purchase. Their combined net worth is about $700 million.

    As a player, A-Rod entertained signing with the Mets as a free agent in 2000. He ultimately signed a record 10-year, $252 million deal with the Texas Rangers. He was then traded to the Yankees, where he won a World Series.

    J-Lo is from the Bronx, home of the Yankees.

    Unlike with Cohen, no preconditions regarding control of the team will be attached to the sale. Cohen holds an 8% stake in the Mets.

    The Wilpons assumed control of the franchise in 2002 at a valuation of $391 million. Whoever buys the team will assume annual losses of at least $50 million.
    Put it in the books.

    Comment


    • For years, I've said the Forbes figures for Mets revenue were nonsense. It seems "sources familiar with the Wilpons' finances", as quoted in various news reports, agree.

      According to Forbes, the Mets' total revenue in 2019 was $362M

      https://www.forbes.com/teams/new-york-mets/#25c412903215

      Meanwhile the Wilpons are howling about how only playing 50 games at home will cost them $150M:


      https://www.foxsports.com.au/basebal...b0983dc32ee381

      That would place their revenue at over $400M, just for 81 home games!

      The Forbes figures always seemed unrealistically low. I hope next time a CBA is negotiated with the players, these leaks from the Mets are investigated. I'm sure the source is Fred and Jeff. It might get the players a better deal.
      Last edited by Mongoose; 04-22-2020, 12:45 AM.


      "The Fightin' Met With Two Heads" - Mike Tyson/Ray Knight!

      Comment


      • Originally posted by milladrive View Post
        This is a Variety "exclusive," which means it's not from a sports publication and could very well be a publicity stunt.

        https://variety.com/2020/tv/news/ale...ts-1234585417/

        Alex Rodriguez, Jennifer Lopez Retain JPMorgan to Raise Money for Mets Bid

        By Scott Soshnick

        Retired baseball star Alex Rodriguez and his fiancé, recording artist and actor Jennifer Lopez, have retained JPMorgan Chase to raise capital for a possible bid on the New York Mets, people familiar with the matter said.

        The superstar couple is working with managing director Eric Menell, the bank’s co-head of North American media investment banking, said the people, who were granted anonymity because the matter is private. Menell didn’t respond to several requests seeking comment.

        Representatives for Rodriguez and Lopez did not immediately respond to requests for comment.

        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.

        Negotiations fell apart after Cohen sought to amend the terms.

        The Mets have retained Allen & Co.’s Steve Greenberg to oversee the sale process.

        It isn’t uncommon for an athlete, entertainer or celebrity to hold a limited position in a professional sports team. A-Rod’s former teammate, Derek Jeter, for instance, is a part owner of baseball’s Miami Marlins. The team’s managing partner is venture capitalist Bruce Sherman, while Jeter, who owns about 4% of the club, runs business and baseball operations. Jeter contributed about $25 million to the purchase of the team, which was sold for $1.2 billion.

        A-Rod and J-Lo, as the recording artist is known, would similarly require deep-pocketed partners in order to pull off the purchase. Their combined net worth is about $700 million.

        As a player, A-Rod entertained signing with the Mets as a free agent in 2000. He ultimately signed a record 10-year, $252 million deal with the Texas Rangers. He was then traded to the Yankees, where he won a World Series.

        J-Lo is from the Bronx, home of the Yankees.

        Unlike with Cohen, no preconditions regarding control of the team will be attached to the sale. Cohen holds an 8% stake in the Mets.

        The Wilpons assumed control of the franchise in 2002 at a valuation of $391 million. Whoever buys the team will assume annual losses of at least $50 million.
        I said on March 14th that this unfortunate situation may force the sale of the team sooner rather than later.

        Yes this looks like an Entertainment Tonight article. But If 2020 and now maybe 2021 are lost seasons for fans who attend games we may have a new ownership group to deal with it.
        And if the value of the team has fallen that much which I assume, maybe Cohen will reappear.

        Comment


        • Originally posted by LI METS FAN View Post

          I said on March 14th that this unfortunate situation may force the sale of the team sooner rather than later.

          Yes this looks like an Entertainment Tonight article. But If 2020 and now maybe 2021 are lost seasons for fans who attend games we may have a new ownership group to deal with it.
          And if the value of the team has fallen that much which I assume, maybe Cohen will reappear.
          I still dont think the team is sold in 2020. In fact I would strongly bet against it. If the value has fallen that much in that short a period of time - the Wilpons would be idiots for selling it at a low point.

          ARod/JLo going to JPMorgan -- is nice. It doesnt mean a thing just yet.

          Fans not attending in 2021????

          My guess is still next year at the earliest, and not until things are normal...or the new normal so the value goes back up to a certain level.

          Cohen is still the best shot to make a quick sale.
          Last edited by Paulypal; 04-22-2020, 06:34 AM.

          Comment


          • Scott Boras, appearing on WFAN’s “Joe and Evan” on Thursday, weighed in with his thoughts on what a sale of the Mets could do for the franchise.

            “The Wilpons, Fred Wilpon, is a very bright guy. He built a foundation with that – owning the network, having the franchise, and built a beautiful ballpark – I’ve always teased in many ways they built a rocketship,” Boras said. “The white cloud of smoke is burling. It’s ready to take off. It’s just really all about the astronauts. Get the right astronauts on that platform it could be a really, really successful franchise for a long time.”

            https://wfan.radio.com/articles/news...pons-mets-sale
            The Mets have the best, smartest fans in baseball.

            Comment


            • Originally posted by Blue387 View Post
              Scott Boras, appearing on WFAN’s “Joe and Evan” on Thursday, weighed in with his thoughts on what a sale of the Mets could do for the franchise.

              “The Wilpons, Fred Wilpon, is a very bright guy. He built a foundation with that – owning the network, having the franchise, and built a beautiful ballpark – I’ve always teased in many ways they built a rocketship,” Boras said. “The white cloud of smoke is burling. It’s ready to take off. It’s just really all about the astronauts. Get the right astronauts on that platform it could be a really, really successful franchise for a long time.”

              https://wfan.radio.com/articles/news...pons-mets-sale
              Put it in the books.

              Comment


              • Originally posted by Blue387 View Post
                Scott Boras, appearing on WFAN’s “Joe and Evan” on Thursday, weighed in with his thoughts on what a sale of the Mets could do for the franchise.

                “The Wilpons, Fred Wilpon, is a very bright guy. He built a foundation with that – owning the network, having the franchise, and built a beautiful ballpark – I’ve always teased in many ways they built a rocketship,” Boras said. “The white cloud of smoke is burling. It’s ready to take off. It’s just really all about the astronauts. Get the right astronauts on that platform it could be a really, really successful franchise for a long time.”

                https://wfan.radio.com/articles/news...pons-mets-sale
                Sooooooooooo if Wilpon is a very bright guy why isnt he the right astronaut?

                Actual translation of what Boras said:

                Fred/Jeff are two morons that have a team with a huge fan base in the biggest city in the world and they are too stupid to build a team around great players.


                I dropped Boras' original statement into Google Translate and thats what came up. When choosing the language - use Agent Speak.

                Comment


                • Remember when Boras compared Oliver Perez to Sandy Koufax?

                  When Oliver Perez entered free agency after the 2008 season, his agent, Scott Boras, followed his standard procedure and produced a binder, 45 pages in length, that praised his client to the heavens.

                  Consider the table of contents in the binder, with headings that include: Perez Is One of Baseball’s Top 5 Left-Handed Starting Pitchers; Durable Perez; and A Rare Young Left-Handed Starting Pitcher Available on the Free-Agent Market.

                  Or the heading on Page 3 of the binder, which states: Perez Follows Footsteps of Hall of Fame Pitcher Sandy Koufax. That entry then argues through statistical breakdowns that Perez’s career from ages 20 to 26 was similar to Koufax’s from ages 19 to 26, and implies that just as Koufax became great at 27, so might Perez.

                  Page 5 of the binder makes a similar comparison between Perez and Randy Johnson.
                  https://www.nytimes.com/2011/03/22/s...l/22boras.html

                  The Koufax comp was clearly aimed at one man, the Brooklyn resident and Mets owner who is friends with Koufax.
                  The Mets have the best, smartest fans in baseball.

                  Comment


                  • New York Mets’ Citi Field Debt Is Downgraded To Below Investment Grade
                    https://www.forbes.com/sites/mikeoza...estment-grade/
                    The Mets have the best, smartest fans in baseball.

                    Comment


                    • New suitors for the team. Josh Harris and David Blitzer.

                      I’m continuing to be hopeful the sale will be this season or this year if no season.

                      Comment


                      • Billionaire Sports Owner Josh Harris Exploring New York Mets Bid
                        https://variety.com/2020/sports/spor...id-1234627896/
                        The Mets have the best, smartest fans in baseball.

                        Comment


                        • https://nypost.com/2020/06/08/devils...t-buying-mets/

                          Be careful what you wish for. Besides being a Met fan, I also root for the Devils. I did not follow hockey until my late teen years and I believe my Devil fandom came from them being televised on the same station as the Mets, Sportschannel. The Devils were a great franchise at one time. They were an affordable option to watch an NHL game in the NY area. They put competent people in place and let them run the team. They were very successful for a twenty year period yet received very little notoriety. There was talk through the years of the team moving and they were able to reach a deal for a beautiful hockey arena in Newark.

                          In 2013 they sold the team to Harris and Blitzer. Ticket prices began to rise, concession prices became outright ridiculous. They have had a revolving door at the leadership positions. Some bad trades were made, some bad draft selections. They are not afraid to spend money on big contracts but from what I have seen they are more interested in flashy players than players who can play in a system which is a proven way to win in the NHL. I think they currently cannot figure out what direction to take the team in and a team that was once a perennial winner has become a franchise in a rebuild for the last several years with no end in site.

                          I see many similarities in them and the Wilpon's. The Post article does allude to the belief they are looking to get the team for a bargain and steal it from the Wilpon's . I think that shows the way they conduct business and gives a glimpse into the way the team will be run. I would not be happy if this deal goes through.

                          Comment


                          • Originally posted by rjsallstars View Post
                            https://nypost.com/2020/06/08/devils...t-buying-mets/

                            Be careful what you wish for. Besides being a Met fan, I also root for the Devils. I did not follow hockey until my late teen years and I believe my Devil fandom came from them being televised on the same station as the Mets, Sportschannel. The Devils were a great franchise at one time. They were an affordable option to watch an NHL game in the NY area. They put competent people in place and let them run the team. They were very successful for a twenty year period yet received very little notoriety. There was talk through the years of the team moving and they were able to reach a deal for a beautiful hockey arena in Newark.

                            In 2013 they sold the team to Harris and Blitzer. Ticket prices began to rise, concession prices became outright ridiculous. They have had a revolving door at the leadership positions. Some bad trades were made, some bad draft selections. They are not afraid to spend money on big contracts but from what I have seen they are more interested in flashy players than players who can play in a system which is a proven way to win in the NHL. I think they currently cannot figure out what direction to take the team in and a team that was once a perennial winner has become a franchise in a rebuild for the last several years with no end in site.

                            I see many similarities in them and the Wilpon's. The Post article does allude to the belief they are looking to get the team for a bargain and steal it from the Wilpon's . I think that shows the way they conduct business and gives a glimpse into the way the team will be run. I would not be happy if this deal goes through.
                            Thanks for the info. I know nothing about either name and have no opinion on either name. But imo ownership should hire the right staff. Oh and having money to spend doesn’t hurt, usually.

                            Whoever buys the team will be looking to get it for less than last years price or the year before. There is no product, the country entered a recession, a segment of the population won’t attend events with large groups of people, MLB popularity declining with young people and on and on.

                            Comment


                            • Originally posted by rjsallstars View Post
                              https://nypost.com/2020/06/08/devils...t-buying-mets/

                              Be careful what you wish for. Besides being a Met fan, I also root for the Devils. I did not follow hockey until my late teen years and I believe my Devil fandom came from them being televised on the same station as the Mets, Sportschannel. The Devils were a great franchise at one time. They were an affordable option to watch an NHL game in the NY area. They put competent people in place and let them run the team. They were very successful for a twenty year period yet received very little notoriety. There was talk through the years of the team moving and they were able to reach a deal for a beautiful hockey arena in Newark.

                              In 2013 they sold the team to Harris and Blitzer. Ticket prices began to rise, concession prices became outright ridiculous. They have had a revolving door at the leadership positions. Some bad trades were made, some bad draft selections. They are not afraid to spend money on big contracts but from what I have seen they are more interested in flashy players than players who can play in a system which is a proven way to win in the NHL. I think they currently cannot figure out what direction to take the team in and a team that was once a perennial winner has become a franchise in a rebuild for the last several years with no end in site.

                              I see many similarities in them and the Wilpon's. The Post article does allude to the belief they are looking to get the team for a bargain and steal it from the Wilpon's . I think that shows the way they conduct business and gives a glimpse into the way the team will be run. I would not be happy if this deal goes through.
                              I heard from someone else exactly what you just mentioned above. I am not enthused, although getting rid of the Wilpons is a positive thing - obviously we are hoping that the new owner would be hands off and let baseball people run the baseball team...........just have the checkbook handy.

                              Comment


                              • WCBS radio this morning - at a UJA event, Jeff Wilpon said there were 4 or 5 suitors for the sale of the Mets. His dad and uncle want to do philanthropic and family planning etc. And that is “totally fine” with him.

                                It’s feeling more like 2020 is the year the sale goes through.

                                Comment

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