New York Mets: Things Heat Up With Potential Sellers

New York Mets, Jeff Wilpon

As the 2020 season seems to die in front of our eyes slowly, the potential sale of the New York Mets is heating up. Former buyers and new clients are lining up to purchase one of MLB’s most valuable franchises.

The Steve Cohen saga to purchase the Mets has no end in sight. He originally backed out from the 2.6 billion dollar deal, which included the Wilpons partial ownership for the following five seasons. Cohen said the Wilpons were negotiating in “bad faith” but does not rule out entering another bid. He is waiting on the season’s resumption and will also ask for more control of SNY with his future offer.

J-Rod Ownership?

The group led by Alex Rodriguez and Jennifer Lopez are active in their pursuit of the Mets. They connected with an unnamed backer who could bring up to $250,000 to add to the group’s funds. Rumors say two investors through Galatiota Sports Partners will bring in a combined 250 million dollars.

Galatiota helped Josh Harris acquire the Philadelphia 76ers in 2011. Harris is also interested in purchasing the Mets. Based on his work with the 76ers and New Jersey Devils, he would be a terrific replacement to the Wilpons.

Wilpons Scramble

The longer baseball goes without a season, the lower the value of franchises become. The Wilpons, known for the lack of funds to run a franchise, hope to extend a 250 million dollar loan, which expires after July. They hope the loan extension is for a year, which gives time for all of the turmoil in baseball and the world to settle. They want to avoid an auction, which would make it easy for the Harris/Blitzer group to swoop in and buy.

If the Mets are not sold by 2021, they will partake in their version of Moneyball. Any high priced talent will either get kicked to the curb or never receive an offer. For most owners of a sports franchise, it becomes a business-first mentality, but it seems the Wilpon’s have forgotten about the sports side of it and just want to break even when they through with the franchise.

New York Mets: J-Lo and A-Rod Making a Second Run at Buying The Mets

New York Yankees, Alex Rodriguez

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.

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.

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.

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.

New York Mets: Wilpons Won’t Sell SNY With the Team

As baseball continues to take a seat with the Coronavirus pandemic running rampant in the U.S., the Wilpons are still searching for the right buyer for the New York Mets. One guarantee of the future sale is that SNY will continue to belong to the Wilpons no matter what.

SNY has been the Mets network where a majority of the games air since 2006. The unwillingness to part ways with the network cause a conflict with Alex Rodriguez and Jennifer Lopez’s bid to acquire the franchise. SNY makes money while the Mets are losing up to $90 million per season. The Mets games are going to be on SNY for at least ten more years, which is a guaranteed profit for whoever owns the team.

One Controversial Group Against Another

The Wilpons 65 percent ownership of SNY is what levels off the high loss from owning the Mets. Steve Cohen was the only one willing to strike a deal without SNY. While the Mets have been struggling to make money without baseball games, the Wilpons have made a move to ask their minority owners to make commitments to the team.

A-Rod has found biotech investor Wayne Rothbaum to partner in the sale. Rothbaum brings in the money the A-Rod group needed, which makes the push to buy legitimate. He was part of a group with Jeb Bush that pursued the sale of the Marlins in 2017.

Rodriguez Takes a Backseat

What comes with Rothbaum joining the team is that MLB will want to see him in charge instead of Rodriguez. The same way Magic Johnson takes a limited role with the Los Angeles Dodgers. A-Rod has never been the type to avoid the spotlight either as the villain during his playing day to the hero he tries to play now.

Without any sports right now, the potential Mets sale at least gives fans something to be hopeful for in 2020.

New York Mets: A-Rod, J.Lo Make Moves to Propose a Big For the Mets

New York Yankees, Alex Rodriguez

Once a dream and an overlooked rumor, Alex Rodriguez is now seriously considering purchasing the New York Mets. He is not doing this alone as singer/fiancee Jennifer Lopez is helping the cause as well. Both are taking the steps together to make a run at owning the franchise.

This is another chapter in A-Rod’s story to give himself a shot at making the hall of fame. A career marked by his drama and PED filled legacy is trying to revive itself like the Undertaker sitting up out of his casket. His post-retirement life is filled with his analyst roles, Tik Tok videos, and is known as “J-Lo’s boyfriend.”

How Did We Get to this Point?

The group Rodriguez will bid with is still in the works but retained JPMorgan Chase to create a group potentially. Though the two are wealthy, the $2.6 billion asking price is out of their range. Chase also had a history as the former bank partner of the Mets.

The likelihood of the Wilpon’s selling to an A-Rod led group is unlikely to happen due to multiple factors. The Mets are expensive, Coronavirus is killing the economy, and despite the renaissance story, he still has a damaged reputation.

What comes with the market falling will be the diminishing value of the franchise. If the right combination of variables falls in place, then this becomes a possibility. If A-Rod can act quickly, he can swoop in before things bounce back to normal. For now, it still looks like the Wilpon’s will keep the team for the distant future.