Jennifer Lopez and Alex Rodriguez will no longer buy The New York Mets as negotiations fail to materialize
Rodriguez was hoping to be the managing partner of the Mets by investing only $50 million along with Lopez to buy the team
Reportedly, the ‘Booty' singer Jennifer Lopez and fiance Alex Rodriguez, former American baseball star have given up on their hopes of buying the New York Mets.
It has been said that despite many attempts, Lopez and Rodriguez’s negotiation with the potential partners did not materialize and the couple had to step back from their decision. “They never got a firm commitment from any investors they spoke with,” reports Forbes. The report also states that Rodriguez was hoping to be the managing partner of the Mets by investing only $50 million along with Lopez to buy the team.
Also, SNY’s chosen partner, Long Island’s biotech billionaire Wayne Rothbaum was the first one to agree to invest in the team. Apparently he wanted to “exert more control over the team than J- Rod was comfortable surrendering”.
The other setback Rodriguez and Lopez faced with he buying of Mets was the among of investment they were looking into. Reportedly Mets sold for $2.5 billion valuations including $350 million of debt. Although Rodriguez and Lopez were willing to invest a large chunk of their collective network, it would still only make 2% of equity and perhaps SNY thought resting power in the hands of someone with mere investment was a risk.
Moreover owing to Jerry Colangelo’s big financial losses which pushed Mets embarrassingly into debt, a humongous investment is needed for the team to be able to compete against big players such as Washinton National, Philadelphia Phillies, and New York Yankees.
Rodriguez may not be able to but the Mets but he’ll continue to remain a prominent shadow in MLB for which he played 22 seasons. Considered to be one of the greatest baseball players of all time, Rodriguez has played seven seasons with Seattle Mariners, three seasons with the Texas Rangers, and twelve seasons with the New York Yankees.
He’s also the recipient of titles including League batting champion, American League champion, and World Series champion.
As far as his relationship with Lopez is concerned, the duo started dating in 2017 and announced their engagement in 2019. The couple was planning on having a summer destination wedding, which has to be indefinitely postponed due to the novel coronavirus.