Jennifer Lopez, Alex Rodriguez have until August 31 to submit MEGA offer to buy Mets

Former New York Yankees star Alex Rodriquez and fiancee Jennifer Lopez are reportedly running out of time in ir bid to purchase Major League Baseball franchise, New York Mets. According to Sportico, Allen & Co, entity which is overseeing sale of Mets, has tified a deadline of August 31 to interested buyers to submit ir final bids. publication furr reports that along with ir bids, interested buyers must submit each group's source of financing and list of members in respective groups. 

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MLB news: JLo and A-Rod have until August 31 to submit bid to acquire Mets

As per reports, Alex Rodriquez and Jennifer Lopez have teamed up with Florida Panrs owner Vinnie Viola and Vitaminwater Co-founder Mike Repole to finance acquisition of Mets. Hedge fund manr, Steven Cohen, who is already a mirity owner of Mets, is also in contention to acquire majority share from current owners Fred & Jeff Wilpon and Saul Katz. A third group led by Philadelphia 76ers owner Josh Harris is in bidding war to buy Mets.

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process of  sale of New York Mets began in December 2019 when Cohen agreed to a deal to purchase team for a reported $2.6 billion. However, deal failed to materialise as negotiations broke down between both parties. As of w, Cohen appears favourite to become majority owner of franchise.

Valued at $2.4 billion by Forbes, initial bids for Mets were reportedly in range of $2 billion. Cohen had highest bid at $2 billion and an additional $2 billion to purchase SportsNet New York (SNY). group led by Alex Rodriquez and Jennifer Lopez made a bid of around $1.7 billion. It remains unclear how much Josh Harris and co bid to acquire Mets. However, it is expected to be in same ballpark as or two bids. 

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Although unverified, per Celebrity Net Worth, Alex Rodriguez's net worth figure is estimated to be around $350 million. Meanwhile, Variety claims that Alex Rodriguez and Jennifer Lopez have a combined net worth of about $700 million. It remains to be seen if power couple can outbid hedge fund titan Steven Cohen to buy majority share in Mets. 

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(Im Credits: AP)