It appears J-Rod has told the Wilpons they're not getting any dinero from the power couple.
The New York Post reported on Thursday that Alex Rodriguez and Jennifer Lopez have ended their pursuit of the Mets. Sources told the newspaper the slugger and the singer couldn't line up enough investors, and that they weren't keen on buying the ballclub without also acquiring the Mets' TV network, SNY. The current regime has been unwilling to give up that revenue source.
That makes two failed tries for the franchise in a period of months. Steve Cohen wanted to increase his stake in the club from 8 to 80 percent, but could not complete a purchase agreement that was worth upward of $2.6 billion. The deal reportedly broke down, the Post reported in February, over current COO Jeff Wilpon wanting to retain power during an ownership transition from the Wilpon family to Cohen.
The Post noted that Cohen was willing to buy his stake without also buying SNY, but that the coronavirus outbreak has damaged MLB and Mets finances such that the network is now considered a must for any prospective buyer. One Post source estimated the franchise will lose at least $90 million this year.
"They really think they can sell the team and keep SNY," the Post quoted an anonymous "Mets insider" as saying. "But the only person to agree to that was Steve Cohen, and we all know how that ended."