Photo: NY Times
According to Sportico, four groups have made a second bid to purchase the New York Mets. The four are led by billionaires Steve Cohen and Josh Harris. A consortium led by Alex Rodriguez and his fiancé Jennifer Lopez also made an offer, and a fourth bid was made by an unknown agent.
The groups were informed of their status by the investment bank Allen & Co., which is overseeing the sale process. They were also told not to submit offers on the team’s regional sports network, SNY, which is not part of the sale.
Few other details were released by the bank because of the private nature of the matter. As was the case in the first round of bidding, many participants in the negotiations have asked for and were granted anonymity.
Cohen, Harris, and Rodriguez declined comment.
First round bids were non-binding, meaning prospective buyers could change their offers as the process moves along. At least five groups submitted opening round bids for the team.
Cohen already owns an 8% stake in the franchise. Last February, he was in talks to acquire the remaining portion of the Mets, but talks broke down. That deal valued the club at $2.6 billion, but that was before the coronavirus shut down major U.S. sports. Major League Baseball is scheduled to start its season later this month.
Many business pundits call Cohen the “leader in the clubhouse” for the franchise. Cohen, a hedge fund titan, submitted a $2 billion bid in the opening round. He also reportedly bid $2 billion for SNY.
Harris – along with his principal partner, Blackstone executive David Blitzer – own the Philadelphia 76ers and New Jersey Devils and have other worldwide sporting interests.
Rodriguez is backed by Florida Panthers owner Vinnie Viola and Vitamin Water co-founder Mike Repole. Reportedly, this group made an opening round bid of $1.7 billion.
No mention was made of the amount of the second round bids as of Tuesday afternoon.
The groups were told that representatives for Allen & Co. and the Mets would reach out soon to provide more detailed information on the franchise. When information is disseminated, MMO will report on it promptly.
