Jenny may be from a block in the Bronx, but, ain't it funny, she's hoping to do it well, live it up and get loud in Queens.
Translation: Recording artist and actor Jennifer Lopez, along with her fiancé, retired baseball player Alex Rodriguez, have retained JPMorgan Chase to line up financing that would allow them to make a bid for the New York Mets.
A majority stake in the Mets has been on the sales block since late last year, when a deal to sell 80 percent of the team to hedge fund billionaire Steve Cohen fell apart. (The Wilpon family, which owns the team, wanted to keep its control of team management even while selling most of their shares, and various attempts to renegotiate the deal reportedly scotched it.) The Wilpons have said they still want to sell a majority of the team, and hired Allen & Co. to facilitate a deal.
The Mets are worth well north of $2 billion, which means that, as Variety notes, "A-Rod and J-Lo, would … require deep-pocketed partners in order to pull off the purchase. Their combined net worth is about $700 million." Love may not cost a thing, but that's not the case with a major league team.
- KC's View:
in a baseball market long dominated by the Yankees, A-Rod and J-Lo would bring the Mets an interesting level of glamour … and frankly, I'm so tired of the Wilpons that I'd be happy to see this sale get made. I just hope they are for "Real" … that they "Get Right" … and that in the end, they have Mets fans "Feelin' So Good."