KEY POINTS

  • Jennifer Lopez and Alex Rodriguez launch second bid to buy Mets
  • Mets deal will now include TV network SNY
  • The Wilpon family could relax asking price due to COVID-19

Alex Rodriguez and Jennifer Lopez are reviving plans to possibly buy the New York Mets. It will be recalled that their initial bid failed and the belief then was that the celebrity couple has given up their pursuit. But it appears that both have changed their minds and now plan to try again.

In a report from the New York Post, it was reported that Rodriguez and Lopez are now busy and working with senior bankers from JP Morgan Chase to come up with another offer. Both are allegedly putting in hundreds of millions of their own money to hopefully get the Wilpon family to agree. However, the offer may need to be tremendous with the Mets' television network, SNY, now included in the new deal.

Compared to the last time they tried, external factors now caused by the COVID-19 pandemic could change the landscape. Most teams are feeling the financial pinch of the coronavirus, something that Wilpon may or may not consider. The Mets are operating at a major loss, relying heavily on TV revenues to stay afloat. This is seen as the reason why SNY was included in the deal to bridge the gap.

In a previous post, it was mentioned how A-Rod and Lopez emerged as one of the bidders for the Mets. It was also mentioned that the sudden interest of Rodriguez may have stemmed from ex-teammate Derek Jeter. Jeter bought a minority stake of the Miami Marlins. However, Rodriguez may need to pool together additional money to make the sale happen. The majority of that is expected to come from Lopez who holds a net worth near $400 million.

Jennifer Lopez And Alex Rodriguez Alex Rodriguez (L) and Jennifer Lopez attend the 2019 Vanity Fair Oscar Party hosted by Radhika Jones at Wallis Annenberg Center for the Performing Arts on February 24, 2019 in Beverly Hills, California. Photo: Getty Images/Dia Dipasupil

Before the renewed interest of Rodriguez and Lopez, Mets minority owner also made a bid to buy 80% of the team for $2.6 billion. Unfortunately, that failed to push through. Cohen was disappointed but says he is looking forward to seeing someone else make a higher bid for the team. He maintains an 8% hold of the team.

"I want to thank the fans for their support and the respect they showed me and I want to thank Commissioner Manfred and MLB for their support through the process. I gave it my best shot," he said.

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