The Mets sale is going to another round of bidding. A-Rod is tapped out. Would Rodriguez be satisfied as a minority owner like his rival, Derek Jeter, in Miami?
This may force Fred Wilpon and MLB to demand a new round of bidding that is designed to get the sale price closer to the Mets estimated value of $2.4 billion. So far, Cohen registers the highest bid at an even $2 billion.
This scenario presents a massive problem for Rodriguez and his fiance Jennifer Lopez. On paper, their combined worth is around $800 million.
That ain’t hay as they say, but their lavish lifestyle continues to put a considerable dent in that total.
Perhaps that’s why A-Rod and J. Lo presently have only $225 million-$300 million committed to the bid, according to The Athletic.
Alex Rodriguez: A Moment Of Truth
Of interest now is that figure roughly matches the investment bid of their partners, Vincent Viola and Mark Repole.
In a story appearing in today’s New York Post, it seems that J-Rod’s wealthiest backers — Vincent Viola (worth about $5 billion) and Mike Repole (worth $3 billion) — are willing to put up more money. Doing so enables the J-Rod group to raise its offer and possibly win, a source close to the situation said.
Beautiful, you would think, right? That puts A-Rod (or J-Rod as they’re now being called) back in the Mets sale game.
Alas, while that may be true, the J-Rod pair is tapped out. Unless that is, they are willing to forfeit the exclusive vacations, condo buying, the jet-set lifestyle they are fond of pursuing.
This means that Alex Rodriguez is perilously close to losing control of the Mets if his group wins the Mets sale bidding with additional investments from his two partners,
Major League Baseball recognizes only one team owner, and that’s typically the investor with the most skin in the game.
As a minority owner, Rodriguez, in all likelihood, would be made CEO as a tip of the hat to his understanding and insight on baseball. Still, the final say on all matters would be in the hands of the majority owner (probably Viola), not his.
Mets Sale: A True Test Of A-Rod’s Motives
Consider this as a prelude to A-Rod’s predicament.
Derek Jeter, who went into the sale of the Miami Marlins with an estimated net worth of $185 million, now has a stake of a mere 4% in the team as a minority owner subject to the wishes of the team’s majority owner, Bruce Sherman, who owns 46% of the team.
Derek Jeter, over two decades as a New York Yankee, was never bashful about his desire to own a major league baseball team. He can now say he achieved that goal.
But we can surmise that what Jeter wanted is to operate a baseball team.
With the Marlins, he has all of that, subject only to how deep the pockets of Sherman is in wanting to rebuild the Marlins.
Now, the relevant question. Is Alex Rodriguez willing to forego control of the Mets in favor of having exclusive authority in the area of baseball operations (only)?
Or, was participating in the Mets sale, as many believe, a stunt to secure the limelight again and to add to his resurgence as a “good guy”? Soon, we will have an answer.
The Mets Sale Gives A-Rod Yet Another Chance To “Come Clean”
Alex Rodriguez has also been a subject of controversy when it comes to, as Stephen Colbert would say, “Truthiness” in matters of personal character. Notably, the one about did he or didn’t he use performance-enhancing substances (steroids) during his career.
We’re not going to rehash the entire episode again, but suffice to say Alex Rodriguez was never direct in dealing with the issue, deciding instead to accept the suspension, do his time, and upon “release” become the New Alex.
Much to the chagrin of many fans, it’s worked.
Mets Sale Pushing A-Rod To His Limits
But now, we have another chance to get a glimpse into the “Real A-Rod”. Because let’s say Viola and Repole decide to go all-in on the Mets sale, upping the groups bid by a considerable number.
At that point, knowing he can only be a minority owner of the Mets, relegated to performing in a real job (Jeter works extremely hard) – will he back out of the deal all-together?
Rumors are already circulating that Rodriguez has already backed out as an investor, but there is no confirmation yet.
If indeed, Alex Rodriguez does call it quits on the Mets sale, that should tell us all we need to know regarding the “inner workings” of the man behind the curtain.