Former major league star Alex Rodriguez and fiancee Jennifer Lopez withdrew from New York Mets takeover bid amid reports the Wilpon family is finalizing a deal with billionaire hedge fund manager Steve Cohen.
Rodriguez announced Friday night that despite “a fully funded offer at a record price,” their group was withdrawing its offer.
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“The Consortium said it was disappointed not to be a part of the New York revitalization and to provide an exhilarating experience for fans and wished the Wilpon family and the entire Mets organization good luck,” said the celebrity couple in a statement.
Media reported Friday night that Cohen has entered final negotiations and is due to finalize a deal with the team in the coming days. The Mets declined to comment.
COHEN OFFERS $ 2B FOR THE METS FRANCHISE AND $ 2B FOR THE CABLE NETWORK: GASPARINO
Cohen also began negotiations to buy the Mets last year, but the deal collapsed in February. The hedge fund manager bought an 8% limited partnership interest in 2012 for $ 40 million. The deal under discussion would have seen him acquire an 80% controlling stake in a deal that values the team at $ 2.6 billion, and the Wilpons are said to have remained in place for five years.
Rodriguez and Lopez became potential buyers after Cohen’s initial negotiations failed.
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“Alex and I are so disappointed !! Lopez wrote on Twitter. “We have worked so hard over the past 6 months with the dream of becoming the first minority couple and the first female owner to buy her father’s favorite Major League Baseball team with her own hard earned money. We still haven’t given up !! #NYForever