Could A-Rod Really Buy the Mets?
In the world of sports, nothing is worth more than actual teams. In fact, most franchises across the MLB are worth 10 figures (the Miami Marlins are the cheapest, and still valued at $1 billion). With that in mind, buying one of these franchises will involves the investment of a tremendous amount of capital. In fact, it’s more common in the 21st Century for a consortium of buyers to pitch in and buy a team rather than one person do it themselves. However, it seems that one former MLB All-Star wants to buy a team all by himself. Now, whether he can pull it off remains to be seen.
Alex Rodriguez, the famous MLB player, who has been mired in controversy, yet held up as a standard of how a retired sports figure should live their life after their playing career, has announced that he wants to buy the New York Mets. More specifically, he’d probably ask his wife, Jennifer Lopez, to be co-owner with him.
Mets fans would undoubtedly welcome this ownership change, given that the current owners, the Wilpons, have earned themselves a reputation of being boneheaded and making short-sighted decisions that don’t benefit the team. For years, the Wilpons have been reviled by the Mets faithful and have been in various discussions to sell the team for years.
In steps Alex Rodriguez to purchase the team and hopefully take the Mets in a new direction. However, there are a couple of major roadblocks that might get in the way. First, A-Rod was a Yankee, not a Met. I don’t see this as being too much of a point of contention, but some Mets fans are leery of the prospect of having a former Yankees star being in charge of their crosstown rivals.
Second, the Mets franchise is valued at $2.5 billion. It should come as a surprise to absolutely no one that Alex Rodriguez does not have that kind of money on hand. Sure, he’s been wildly successful in his post-baseball career, as he was during it, and has made an obscene amount of money in both of those parts, but I know for a fact that he doesn’t have that much money lying around. In was revealed that A-Rod has contracted JP Morgan to help him with the sale, but I don’t see a bank simply giving Alex Rodriguez $2.5 billion to buy a team.
My opinion is that he’ll need to seek out a consortium that could help him buy the team. He’d remain the figurehead of the group, but he’s going to need help, because I don’t see JP Morgan greenlighting a loan of $2.5 billion to buy a baseball team.