Jennifer Lopez has lost bid to buy New York Mets after putting a $1.7 billion offer
The singer and her fiancé Alex Rodriguez put forward a $1.7 billion offer
Jennifer Lopez has expressed her disappointment in having to pull out of bidding for her father’s favorite baseball team, the New York Mets.
On Friday night (August 28), the singer/actress and her fiancé, former New York Yankee star Alex Rodriguez, who led a group of investors to buy the Major League Baseball franchise, announced that they were withdrawing their bid to buy the team.
“Alex and I are so disappointed!!” Lopez wrote on Instagram. “We worked so hard the past 6 months with the dream of becoming the first minority couple and the first woman owner to buy her father’s favorite Major League Baseball team with her own hard earned money. We still haven’t given up!!”
According to ESPN, the J-Lo-Rodriguez group bid was for $1.7 billion, with the couple putting in $300 million of their own money.
With the power couple now out of the running, it’s expected that billionaire hedge fund manager Steve Cohen will finalise a deal to purchase the Mets in the coming days, reports CNBC.
Cohen had reportedly been close to finalising a deal to acquire the team for about $2.6 billion in late 2019.
At the start of awards season, the singer and actress was widely tipped to score a Best Supporting Actress nod for her turn in the acclaimed movie. However, she – and the movie as a whole – failed to score a nomination come the Academy Awards.