Mike RepoleRob Carr | Getty PicturesOne other purchaser is excited about becoming a member of an possession group to purchase the New York Mets.Bod
Mike Repole
Rob Carr | Getty Pictures
One other purchaser is excited about becoming a member of an possession group to purchase the New York Mets.
Bodyarmor founder Mike Repole is part of the group trying to buy the crew from the Fred Wilpon Household, an individual shut the state of affairs confirmed to CNBC. The group is headed by former Main League Baseball star Alex Rodriguez and actor and singer Jennifer Lopez.
Motion Community’s Darren Rovell first reported Repole’s involvement within the possession group.
That is Repole’s second time exhibiting curiosity within the Mets. The Queens native additionally wished to buy the franchise in 2011 when the Mets have been value roughly $850 million. In response to Forbes, the Mets are presently valued at greater than $2 billion.
Steve Cohen, the billionaire hedge fund supervisor, beforehand positioned a bid to buy roughly 80% of the Mets, however the deal fell aside. With Cohen out, for now, studies of Rodriguez and Lopez’s curiosity within the crew surfaced in March.
Philadelphia 76ers proprietor Josh Harris and Apollo World Administration founder Josh Harris, who additionally not too long ago accomplished a deal to buy shares of the Pittsburgh Steelers of the Nationwide Soccer League, can be an purchaser.
Wilpon had repurchased an even bigger slice of the crew in March 2019, with Sterling Equities — which Wilpon co-founded — agreeing to purchase again a 12% stake within the group. That curiosity was bought to assist fund a settlement for victims of the Bernard Madoff pyramid scheme.
Wilpon and Saul Katz, the co-founder of Sterling Equities and president of the Mets, have been sued in 2010 by Irving Picard, the trustee representing Madoff victims, claiming the pair ought to have been conscious of the scheme. The lawsuit was settled in 2012 for $162 million and later diminished to $61 million.
Repole famously bought beverage maker Glaceau in 2007 for $4.1 billion. In 2014, he partnered with basketball icon Bryant who invested $6 million in Bodyarmor. Bryant turned that funding into about $200 million (on paper) when Coca-Cola acquired a minority stake in 2018.
CNBC’s Jessica Golden contributed to this report.