Just a short while ago, the partnership of Alex Rodriguez and Jennifer Lopez backed out of purchasing the New York Mets. After their initial proposal fell out, their partnership with JPMorgan Chase have put together a new bid in the hope of becoming the new owners of the franchise.
— Bronx Bombers News (@NewsBronx) May 28, 2020
The couple is putting together “hundreds of millions” of their own money in an attempt to get rid of the Wilpon regime. The COVID-19 pandemic and current minor league conflicts show the family is more than ready to rid the financial burden of owning the Mets finally.
New Changes to the Plan
The original plan of only owning the franchise fell out in part of the negative revenues from solely owning the Mets. SNY’s revenues allow Wilpons to continue operating the franchise without losing money. The new plan includes SNY in the deal, new partners (no longer Wayne Rothbaum, and a long-term plan for successful ownership.
The Wilpons are not ones to prevent themselves from making an extra dime. They still want a part of SNY’s ownership in the deal but are willing to hand over majority ownership now. As rich as the J-Rod combination is, they need help to pull off a deal, especially with SNY involved.
Life isnâ€™t about waiting for the storm to pass. Itâ€™s about learning to dance in the rain (or jump in the pool ðŸ˜…)
Maybe youâ€™ll see a dance like this on @nbcworldofdance tonight!! ðŸ˜‚ #WorldOfDanceAgain @jlo pic.twitter.com/QFrES6CsgB
— Alex Rodriguez (@AROD) May 26, 2020
The partnership with JP Morgan Chase guarantees large amounts of money are coming for the big. Rumors put the bid around $2 billion, and it has a much higher chance of happening than their first attempt at ownership.
Another crucial part of this deal is the joint ownership where both Rodriguez and Lopez would be front and center of the franchise. They will be active owners and attempt to undo some of the messes the Wilpon family will leave behind.
New Blood in Queens
Another aspect is creating a different environment for fans and players. They have spoken with the Kraft family, who are not interested in owning a team but in what they can do for Citi Field and the neighborhood around it. The goal is to make going to the ballgame a whole day experience, not just a game experience.
— Ruby CarriÃ³n #LFGMðŸŽ (@bingcarrion) May 25, 2020
The Kraft family developed the area around Gilette Stadium to become a complex where you spend the weekend. Their interest is in developing the area around Citi Field the same way. Space is there in Queens, but fans know it is not the safest or welcoming area to hang out around after a ball game. Some of the auto shops and buildings have cleared out over the last decade-plus, but there is still a lot more work to be done there. This is why the 2013 All-Star game parade was on 42nd street in Manhattan.
The aim is to combine aspects of Wrigley Field and Madison Square Garden. The Wrigley element creates a “baseball town” for fans. The Mets fan base is as passionate as any in baseball, and they would embrace that culture. McFadden’s at Citi Field is a huge hit, so expanding that culture will fill the ballpark more often.
The Madison Square Garden aspect brings the star power to Citi Field. Just like the Knicks, the Mets have plenty of big-name celebrities from Jerry Seinfeld to Donovan Mitchell, who are avid fans. The Garden has “celebrity row” and putting together the same concept works to the Mets advantage. The stadium is next to a beautiful view, and Citi Field’s design is aging like fine wine.
There are still plenty of hoops to jump through. Other bids and negotiations are the biggest obstacles in the J-Rod ownership. But the improvement of their plans has to make fans optimistic, even as we are clueless on when baseball will return.