Alex Rodriguez and Jennifer Lopez are reportedly actively exploring a bid for the New York Mets


Retired Yankees star Alex Rodriguez and fiancée Jennifer Lopez have retained JPMorgan Chase to explore a bid on the New York Mets, Variety reports. The Mets, based in Queens, are owned by the Wilpon family, which was negotiating a sale to hedge fund billionaire Steven Cohen late last year. That deal, which valued the Mets at $2.6 billion, fell through after Cohen tried to change the terms, Variety says, noting that A-Rod and J-Lo have a combined net worth of about $700 million.
Would Mets fans be happy if their team was owned by a former Yankee and a woman from the Bronx? As long as the Mets win, fans probably won't care. Former teammate Derek Jeter owns a stake in the Miami Marlins, for example, and his involvement in the team gives "the Marlins cachet and a former player universally respected in baseball," the Miami Herald wrote in 2017. A-Rod would also bring that, while J-Lo could add some glamour. Jeter announced Monday that he is foregoing his annual $5 million salary as Marlins CEO during the coronavirus pandemic.
When the Wilpons bought control of the MLB franchise in 2002, it was worth $391 million, Variety says, and along with the higher price tag, the new Mets owner will inherit annual losses of at least $50 million and a 2020 season that may not happen.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Can Trump put his tariffs on stronger legal footing?
Today's Big Question Appeals court says 'emergency' tariffs are improper
-
Film reviews: The Roses, Splitsville, and Twinless
Feature A happy union devolves into domestic warfare, a couple's open marriage reaps chaos, and an unlikely friendship takes surprising turns
-
Thought-provoking podcasts you may have missed this summer
The Week Recommends Check out a true crime binger, a deep-dive into history and more
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year