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#pounditSaturday, August 8, 2020

Alex Rodriguez and Steve Cohen reportedly advance to second round of Mets bidding

New York Mets

Alex Rodriguez is still in the running to purchase the New York Mets.

Rodriguez and Jennifer Lopez’s group is among four to advance to a second round of bidding on the Mets, according to Scott Soshnick of Sportico. Billionaire hedge fund manager Steve Cohen has advanced as well, as has a group led by New Jersey Devils and Philadelphia 76ers owner Josh Harris. The fourth group has yet to be identified.

Cohen bid $2 billion for the team and another $2 billion for SNY, the team’s regional sports network. He and other groups were told not to submit any further bids for SNY, as the network is not for sale.

At least five groups are said to have submitted initial offers, meaning at least one potential buyer has already been eliminated in the preliminary process.

None of this is particularly surprising. These groups generally made high-profile bids and are either billionaires or backed by billionaires. Rodriguez and J-Lo may be the most famous names involved in the bidding, but Cohen is still said to be the favorite to get something done after a previous agreement with current Mets ownership fell through earlier in the year.

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