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Another purchaser has an interest in signing up with an ownership group to purchase the New York Mets.
Bodyarmor creator Mike Repole belongs of the group trying to buy the group from the Fred Wilpon Family, an individual close the circumstance verified to CNBC. The group is headed by previous Major League Baseball star Alex Rodriguez and star and vocalist Jennifer Lopez.
Action Network’s Darren Rovell initially reported Repole’s participation in the ownership group.
This is Repole’s 2nd time revealing interest in the Mets. The Queens native likewise wished to buy the franchise in 2011 when the Mets deserved approximately $850 million. According to Forbes, the Mets are presently valued at more than $2 billion.
Steve Cohen, the billionaire hedge fund supervisor, formerly put a quote to buy approximately 80% of the Mets, however the offer broke down. With Cohen out, in the meantime, reports of Rodriguez and Lopez’s interest in the group emerged in March.
Philadelphia 76ers owner Josh Harris and Apollo Global Management creator Josh Harris, who likewise just recently finished an offer to buy shares of the Pittsburgh Steelers of the National Football League, is likewise an interested purchaser.
Wilpon had actually redeemed a larger piece of the group in March 2019, with Sterling Equities — which Wilpon co-founded — consenting to redeem a 12% stake in the company. That interest was offered to assist money a settlement for victims of the Bernard Madoff pyramid plan.
Wilpon and Saul Katz, the co-founder of Sterling Equities and president of the Mets, were taken legal action against in 2010 by Irving Picard, the trustee representing Madoff victims, declaring the set needs to have know the plan. The claim was settled in 2012 for $162 million and later on lowered to $61 million.
Repole notoriously offered drink 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 financial investment into about $200 million (on paper) when Coca-Cola obtained a minority stake in 2018.
CNBC’s Jessica Golden added to this report.