A-Rod, J-Lo Pull Out of Bid to Buy Mets; Steve Cohen Reportedly in 'Exclusive Negotiations'

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By WCBS Newsradio 880

It appears as if the next owner of the New York Mets will indeed be Steve Cohen.

Late Friday night, as the Mets and Yankees were completing their doubleheader at Yankee Stadium, news broke that the consortium fronted by Alex Rodriguez and Jennifer Lopez had pulled out of bidding for the Mets, less than 72 hours before final bids were due on August 31.

"The consortium, which included Vincent Viola, Mike Repole and Marc Lore, had submitted a fully funded offer at a record price for the team which was supported by binding debt commitments from JP Morgan and equity commitment letters from credit worthy partners," A-Rod and J-Lo said in a joint statement Friday night. "The consortium said that they are disappointed to not be part of the revitalization of New York City and provide an exhilarating experience for the fans and wish the Wilpon Family and the entire Mets organization well.”

In a later Tweet, Lopez expressed her own dismay in a Tweet containing that statement.

That would leave two main potential suitors – Cohen and Harris/Blitzer Entertainment (Sixers and Devils owners Josh Harris and David Blitzer) – but per David Faber of CNBC, Cohen has entered exclusive negotiations to buy the team, and could reach a deal within days.

Cohen of course was originally in line to buy the team earlier this year, with the deal falling apart at the eleventh hour. Months later, after a process that including several suitors and multiple rounds of bids, it appears as if he will finally close the deal, which it has been reported that the Wilpon and Katz families hope to complete by the end of October.

WCBS 880 contributed to this report.

Follow Lou DiPietro on Twitter: @LouDiPietroWFAN

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