10.2 C
Los Angeles
Tuesday, October 20, 2020

MGK and Megan Fox Are Officially Together

Rapper Machine Gun Kelly is now Instagram official with his lady, actress Megan Fox. In a post on Tuesday, MGK and Megan...
More

    Latest Posts

    MGK and Megan Fox Are Officially Together

    Rapper Machine Gun Kelly is now Instagram official with his lady, actress Megan Fox. In a post on Tuesday, MGK and Megan...

    What’s Going On with the “Friends” Reunion?

    If you are a human being than you have probably been very excited about the cast of "Friends" reuniting for a special...

    Kanye West Spoke. But Were We Really Listening?

    On Sunday Kanye West held a rally for his presidential campaign in South Carolina. The rap and fashion icon went on an...

    Julian Edelman Extends Heartfelt Message to Eagles Wide Receiver Desean Jackson

    There are a few rules to doing PR well. One of them is, don't quote Hitler! Desean Jackson, 33, has come under...

    Alex Rodriguez, Jennifer Lopez Retain JPMorgan to Raise Money for Mets Bid (EXCLUSIVE)

    Click here to read the full article.

    Retired baseball star Alex Rodriguez and his fiancé, recording artist and actor Jennifer Lopez, have retained JPMorgan Chase to raise capital for a possible bid on the New York Mets, people familiar with the matter said.

    The superstar couple is working with managing director Eric Menell, the bank’s co-head of North American media investment banking, said the people, who were granted anonymity because the matter is private. Menell didn’t respond to several requests seeking comment.

    More from Variety

    Representatives for Rodriguez and Lopez did not immediately respond to requests for comment.

    The Wilpon family, which owns the Mets, said in December they were in talks to sell up to 80% of the Major League Baseball team to hedge fund titan Steve Cohen in a deal that valued the club at $2.6 billion. Under terms of that proposed deal, the Wilpons would’ve maintained control of the franchise for five years.

    Negotiations fell apart after Cohen sought to amend the terms.

    The Mets have retained Allen & Co.’s Steve Greenberg to oversee the sale process.

    It isn’t uncommon for an athlete, entertainer or celebrity to hold a limited position in a professional sports team. A-Rod’s former teammate, Derek Jeter, for instance, is a part owner of baseball’s Miami Marlins. The team’s managing partner is venture capitalist Bruce Sherman, while Jeter, who owns about 4% of the club, runs business and baseball operations. Jeter contributed about $25 million to the purchase of the team, which was sold for $1.2 billion.

    A-Rod and J-Lo, as the recording artist is known, would similarly require deep-pocketed partners in order to pull off the purchase. Their combined net worth is about $700 million.

    As a player, A-Rod entertained signing with the Mets as a free agent in 2000. He ultimately signed a record 10-year, $252 million deal with the Texas Rangers. He was then traded to the Yankees, where he won a World Series.

    J-Lo is from the Bronx, home of the Yankees.

    Unlike with Cohen, no preconditions regarding control of the team will be attached to the sale. Cohen holds an 8% stake in the Mets.

    The Wilpons assumed control of the franchise in 2002 at a valuation of $391 million. Whoever buys the team will assume annual losses of at least $50 million.

    Scott Soshnick is the editor-in-chief of Sportico, Penske Media’s new sports business platform.

    Originally Published on Yahoo Entertainment

    Latest Posts

    MGK and Megan Fox Are Officially Together

    Rapper Machine Gun Kelly is now Instagram official with his lady, actress Megan Fox. In a post on Tuesday, MGK and Megan...

    What’s Going On with the “Friends” Reunion?

    If you are a human being than you have probably been very excited about the cast of "Friends" reuniting for a special...

    Kanye West Spoke. But Were We Really Listening?

    On Sunday Kanye West held a rally for his presidential campaign in South Carolina. The rap and fashion icon went on an...

    Julian Edelman Extends Heartfelt Message to Eagles Wide Receiver Desean Jackson

    There are a few rules to doing PR well. One of them is, don't quote Hitler! Desean Jackson, 33, has come under...

    Don't Miss

    Stacey Abrams blames Georgia’s secretary of state for election being an ‘unmitigated disaster’

    Former Georgia gubernatorial candidate Stacey Abrams appeared on The Late Show With Stephen Colbert Wednesday, where she discussed the chaotic mess surrounding the Georgia...

    Magic Johnson Feature Documentary in the Works

    Basketball legend Earvin “Magic” Johnson will be the subject of a new feature film documentary from XTR, H.wood Media, NSV and Delirio...

    ‘Live PD’ Host Dan Abrams Regrets Footage of In-Custody Death Was Destroyed: ‘I Wish This Had Been Aired’

    “Live PD” host Dan Abrams is answering questions about why the show, which was canceled Wednesday, destroyed footage of the tragic last moments of...

    Ice Cube Defends Tweets With Anti-Semitic Images, Conspiracy Theories: ‘Telling My Truth’

    Hip-hop legend Ice Cube has defended himself for sharing multiple anti-semitic tweets and conspiracy theories this week, saying he’s not “anti anybody,”...

    Kelly Clarkson Files for Divorce from Husband Brandon Blackstock After Nearly 7 Years of Marriage

    Karen MizoguchiJune 11, 2020, 12:40 PM CDT Kelly Clarkson is ending her nearly seven-year marriage to husband Brandon Blackstock.

    Stay in touch

    To be updated with all the latest news, offers and special announcements.