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Friday, February 14, 2020

Alex Rodriguez emerges as potential Mets buyer

According to multiple sources, the newest name to emerge as a potential suitor to buy the Mets is none other than Alex Rodriguez. Baseball and Wall Street insiders told The Post that the controversial former Yankees superstar is “kicking the tires” on the idea of getting into an upcoming auction for the team. This comes after Cohen, the billionaire hedge fund manager, walked away from a $2.6 billion deal for 80 percent of the team last week upon learning that the Wilpon family would not be surrendering control for the first five years of his ownership.

While sources told The Post that Cohen has not yet fully given up on his chances of purchasing the Mets, rumors of A-Rod’s interest have intensified.

“He’s a businessman and a baseball man based in New York,” said one A-Rod ally. “Why wouldn’t he be looking at this?”

RoyalsRetro (AG#1F) Posted: February 14, 2020 at 02:15 PM | 48 comment(s) Login to Bookmark
  Tags: mets

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   1. JJ1986 Posted: February 14, 2020 at 02:30 PM (#5924451)
Like the way Jeter bought the Marlins and Magic Johnson bought the Dodgers?
   2. Rally Posted: February 14, 2020 at 02:33 PM (#5924454)
Made $441 million according to BBref. Paid a lot of taxes, certainly had the opportunity to make more in the stock market or other investments.

But still very unlikely he'd be the main money in such a deal, he'll need a billionaire to help him buy a team that has to be worth what, 2.5 billion?
   3. Howie Menckel Posted: February 14, 2020 at 02:33 PM (#5924455)
There couldn't be more Mets-ian owners than A-Rod.

who says neigh?
   4. What did Billy Ripken have against ElRoy Face? Posted: February 14, 2020 at 02:33 PM (#5924456)
EDIT: Nah. It wasn't a good one.
   5. DL from MN Posted: February 14, 2020 at 02:48 PM (#5924460)
Jennifer Lopez is worth $400M
   6. Barry`s_Lazy_Boy Posted: February 14, 2020 at 03:00 PM (#5924465)
The George W. Bush version of buying a team.

ARod and the Mets sound like a perfect fit.
   7. Fernigal McGunnigle Posted: February 14, 2020 at 03:02 PM (#5924466)
Like the way Jeter bought the Marlins and Magic Johnson bought the Dodgers?
One of these worked out a lot better than the other one did.

According to Forbes, Jeter invested $20-25 million for 2% of the Marlins. He, gets paid $5 million a year for a running the team, gets a $4 million management fee, a $1 million travel budget, and doesn't have to cover capital calls. Magic supposedly invested $50 million for 2.3% of the Dodgers, and so far as I can tell doesn't get a salary and mainly functions as an occasional cheerleader and a famous face when one is necessary.

A-Rod would be bad in the Magic role because no one really likes him, but if he could convince his fiancée to be 2.3% owner of the Mets it would probably be a lot more helpful.
   8. RoyalsRetro (AG#1F) Posted: February 14, 2020 at 03:07 PM (#5924467)

Jennifer Lopez is worth $400M


Dolphins owner Jennifer Lopez?
   9. Tom Nawrocki Posted: February 14, 2020 at 03:07 PM (#5924468)
According to Forbes, Jeter invested $20-25 million for 2% of the Marlins. He, gets paid $5 million a year for a running the team, gets a $4 million management fee, a $1 million travel budget, and doesn't have to cover capital calls.


So in less than three years, he will have been paid back for his initial investment.

I need to tell my boss about this whole idea of getting both a salary and a "management fee."
   10. Zonk Hasn't Learned his Aspirational Lesson Posted: February 14, 2020 at 03:17 PM (#5924473)
Will the JeterMarlins force him to move the Mets to the AL Central?
   11. Nasty Nate Posted: February 14, 2020 at 03:22 PM (#5924475)
This story has legs
   12. Traderdave Posted: February 14, 2020 at 03:33 PM (#5924477)
According to Forbes, Jeter invested $20-25 million for 2% of the Marlins


A 2% stake for 20MM values the Marlins at 1B. Loria is the luckiest swindler in history.
   13. asinwreck Posted: February 14, 2020 at 03:40 PM (#5924482)
I think the Daily News just imploded with a collective orgasm.
   14. Adam Starblind Posted: February 14, 2020 at 04:12 PM (#5924492)
In other news, the Mets have been relocated across Queens to The Belmont.
   15. Steve Parris, Je t'aime Posted: February 14, 2020 at 04:36 PM (#5924496)
I know the Wilpons have liquidity problems but didn't realize it was so dire as to require a stalking horse.
   16. Bring Me the Head of Alfredo Griffin (Vlad) Posted: February 14, 2020 at 04:50 PM (#5924498)
Alex Rodriguez emerges as potential Mets buyer


I'm sure he'll pay a hansom price.
   17. What did Billy Ripken have against ElRoy Face? Posted: February 14, 2020 at 05:08 PM (#5924502)
the controversial former Yankees superstar is “kicking the tires” on the idea of getting into an upcoming auction for the team.
Those poor, poor tires.
   18. Gonfalon Bubble Posted: February 14, 2020 at 06:08 PM (#5924515)
If A-Rod does this, he'll be saddled with debt.
   19. Infinite Yost (Voxter) Posted: February 14, 2020 at 06:16 PM (#5924518)
Like the way Jeter bought the Marlins and Magic Johnson bought the Dodgers?


I mean, probably, but one does wonder: what is A-Rod's actual net worth? I assume he's made more money in pure salary than any other ballplayer (~$440 million, according to B-R, to be passed in short order, but still a fortune). He's paid a lot of taxes, but probably not as much as I think he should. He's had endorsements. And -- importantly -- he has had investments, or at least one assumes he has. An account with a firm that handles "high net worth individuals." Maybe the occasional business venture. I have no idea how the latter has gone -- one of the things that has distinguished Magic from other ex-jocks is that his business career has been notably successful. I know nothing of A-Rod the businessman, and I'm not sure many people do. In all likelihood, he's had an unremarkable business career of investing in projects that both worked and didn't, and this has mostly been a hobby for him. But he may be significantly wealthier than his career salary would indicate. He's not on Forbes' rich list, but Forbes' rich list is notoriously vulnerable to manipulation (usually in the downward direction, unless you're Donald Trump.) It's very rare that someone buys a big-market team outright, and it's probably more in the vein of dumping $20 mil in a baseball team because baseball teams are almost always good investments, but who knows?

One of these worked out a lot better than the other one did.

According to Forbes, Jeter invested $20-25 million for 2% of the Marlins. He, gets paid $5 million a year for a running the team, gets a $4 million management fee, a $1 million travel budget, and doesn't have to cover capital calls. Magic supposedly invested $50 million for 2.3% of the Dodgers, and so far as I can tell doesn't get a salary and mainly functions as an occasional cheerleader and a famous face when one is necessary.

A-Rod would be bad in the Magic role because no one really likes him, but if he could convince his fiancée to be 2.3% owner of the Mets it would probably be a lot more helpful.


I think this is is thinking about this wrong. I mean, first of all, 2.3% of the Dodgers is worth way more than 2% of the Marlins, and not just in returns on resale -- the Dodgers print money and the Marlins don't, at least not in the same way.

But the real thing is that the compensations are not monetary, or at least not purely. Magic's not a dummy; he gets what he wants from transactions like this. What does he get? He gets to be the handsome, brilliant, beloved "owner" of Los Angeles' fabulously successful baseball team. He gets to meet Denzel and Obama; he gets Eric Garcetti to take his calls; and, chiefly, he gets to have fun, in a way that wasn't available to him when he was just rich and a retired jock. Now he's rich, and he's famous again. He obviously loves it. To describe him as a "cheerleader" is to undersell what he gets out of this. He's the face of a cornerstone franchise in American sports, in the same way he was when he was a PG for the Lakers 30 years ago. This is a man who goes by the name Magic. As "owner of the Dodgers", he's MAGIC again. He's a leading citizen, a culture hero, Los Angeles personified. All Jeter gets is -- what? He's yet another despised owner of the Marlins?
   20. CFBF's Overflowing Pathos Posted: February 14, 2020 at 06:17 PM (#5924519)
A-Rod might not be the chief owner, but he could be the glue that holds the ownership group together.
   21. What did Billy Ripken have against ElRoy Face? Posted: February 14, 2020 at 06:24 PM (#5924520)
I know nothing of A-Rod the businessman, and I'm not sure many people do. In all likelihood, he's had an unremarkable business career of investing in projects that both worked and didn't, and this has mostly been a hobby for him.
I know he was on Shark Tank. And all of those companies end up being huge successes, right?
   22. What did Billy Ripken have against ElRoy Face? Posted: February 14, 2020 at 06:26 PM (#5924521)
He gets to meet Denzel and Obama
Pretty sure those guys would have been willing to meet him as just Magic, retired NBA legend.
   23. PreservedFish Posted: February 14, 2020 at 06:27 PM (#5924524)
ARod appears to be a very busy investor. Welcome to A-ROD Corp! Who knows how much moolah he's made, but he has at least expended a lot of energy on it.

"More than 11 years ago, former Major League Baseball star Alex Rodriguez told CNBC’s Becky Quick he would rather be on the cover of Fortune magazine than Sports Illustrated..."
   24. Steve Parris, Je t'aime Posted: February 14, 2020 at 06:39 PM (#5924530)
Magic's not a dummy; he gets what he wants from transactions like this.

Back when he was running the Lakers, Magic brought Kawhi Leonard to a Dodgers game when he was recruiting him as a free agent. While that didn't work, I think his non-NBA business career was part of his sales pitch to potential stars - come play for the Lakers and I'll teach you how to leverage your LA stardom into other business ventures.
   25. JAHV Posted: February 14, 2020 at 07:05 PM (#5924533)
I'm sure he's champing at the bit to get a deal done.
   26. Jeff Frances the Mute Posted: February 14, 2020 at 07:06 PM (#5924534)
But the real thing is that the compensations are not monetary, or at least not purely. Magic's not a dummy; he gets what he wants from transactions like this. What does he get? He gets to be the handsome, brilliant, beloved "owner" of Los Angeles' fabulously successful baseball team. He gets to meet Denzel and Obama; he gets Eric Garcetti to take his calls; and, chiefly, he gets to have fun, in a way that wasn't available to him when he was just rich and a retired jock. Now he's rich, and he's famous again. He obviously loves it. To describe him as a "cheerleader" is to undersell what he gets out of this. He's the face of a cornerstone franchise in American sports, in the same way he was when he was a PG for the Lakers 30 years ago. This is a man who goes by the name Magic. As "owner of the Dodgers", he's MAGIC again. He's a leading citizen, a culture hero, Los Angeles personified.

Is this meant to be serious?
   27. Spahn Insane Posted: February 14, 2020 at 07:12 PM (#5924535)
16 is underrated.
   28. Infinite Yost (Voxter) Posted: February 14, 2020 at 07:53 PM (#5924537)
Pretty sure those guys would have been willing to meet him as just Magic, retired NBA legend.


Okay, fine. But would Obama have given a #### what he had to say?
   29. Infinite Yost (Voxter) Posted: February 14, 2020 at 07:56 PM (#5924538)
Is this meant to be serious?


I dunno, are you literate? Seems like maybe not.

I mean, #######. The more I think about your mocking comment, the stupider you seem.
   30. Sunday silence Posted: February 14, 2020 at 09:50 PM (#5924545)
It may be condescending comment, but really the whole second part of your post there seems a bit over the top. "Magic gets to have fun." How? How is getting into the biz world any more fun than just doing whatever else these people do? He gets to meet OBama and Denzel. Really? He cant do that without being an owner of the Dodgers? He's MAGIC! MAGIC!

I dont even know who Eric Garcetti is, but I doubt it would convince me of anything.

I get that he can stay in the spotlight a bit more but the rest of this is open to criticism. Is he really the face of the franchise? I would have guessed Scully or Lasorda, even though I guess there not as active anymore.

Los Angeles personified? WHat does that even mean?
   31. bookbook Posted: February 14, 2020 at 10:02 PM (#5924546)
Obama is much more interested in meeting the Magic Johnson who brings good groceries (produce) to urban food deserts, and jobs to the inner city than the MAGIC who cheerleads the LA Dodgers.
   32. Howie Menckel Posted: February 14, 2020 at 10:32 PM (#5924548)
A-Rod is currently starring in a show, I think on CNBC, where he tries to straighten out former star athletes who have pissed away every nickel.

one was Evander Holyfield. another was Ryan Lochte the swimmer who is not David Phelps.

it's kind of a reality show - so belief need not be suspended. he comes across as a guy who has good business instincts. who knows for sure.

but A-Rod met Scott Boras when he was in his early teens, iirc. I think he also was just young and dumb enough in some ways to understand that he should let Boras or his pals run his entire financial life when he was younger.

a little knowledge really is a dangerous thing; no knowledge? not as much. I suspect that A-Rod still has a huge fortune left compared to many peers (I'd say the same for Jeter fwiw, for different reasons).

also, Magic Johnson could not be forgotten anywhere in the US even if he tried.

In LA? He'd have to commit a double homicide to.... Your Honor, I'd like to disavow that remark.
   33. Jeff Frances the Mute Posted: February 15, 2020 at 12:38 AM (#5924556)
I dunno, are you literate? Seems like maybe not.

I mean, #######. The more I think about your mocking comment, the stupider you seem.

I guess you were serious. I thought maybe it was some some of joke that I didn’t understand. You probably should have pretended that it was some sort of joke that didn’t land.
   34. Jeff Frances the Mute Posted: February 15, 2020 at 12:49 AM (#5924557)
I dont even know who Eric Garcetti is, but I doubt it would convince me of anything.

He is the mayor of Los Angeles. He would walk over hot coals for a single kind word from Magic. The idea that Magic would have trouble communicating with the mayor is off the rails crazy.
   35. Traderdave Posted: February 15, 2020 at 01:02 AM (#5924558)

I mean, probably, but one does wonder: what is A-Rod's actual net worth? I assume he's made more money in pure salary than any other ballplayer (~$440 million, according to B-R, to be passed in short order, but still a fortune). He's paid a lot of taxes, but probably not as much as I think he should. He's had endorsements. And -- importantly -- he has had investments, or at least one assumes he has.



His baseball earnings were W2 meaning he was always in the top tax bracket, both state & federal plus every city he played in taking a cut. He's surely had many tax advantaged investments (muni bonds, qualified dividends, capital gains etc) but on baseball earnings the man has paid a lot in taxes, 45% or so of his earned income.

I recall reading a piece a while back where Arod talked about his investing style and he seemed to really get it. He doesn't need to shoot for the moon to get rich, he's already fabulously rich. He described his portfolio as heavy in munis (at the time yielding 5.0% or so tax free) plus some residential real estate (probably REIT shares but he didn't elaborate) and blue chip stocks. He plainly stated he's fine with lower returns for stability and safety because he's already a plutocrat.

No idea if his actual investing follows this script, but it is a lower than average risk script for very sound rational reasons.

And do please keep up the equine puns, gents.
   36. Edmundo got dem ol' Kozma blues again mama Posted: February 15, 2020 at 07:08 AM (#5924562)
NY Post is just trying to stirrup a bit of trouble.
   37. Blastin Posted: February 15, 2020 at 08:04 AM (#5924566)
Anyone who thinks Magic needed the Dodgers deal to be celebrated is crazy. Magic never once stopped being an icon, not the least because of the shock of how he retired.
   38. SoSH U at work Posted: February 15, 2020 at 08:11 AM (#5924569)
another was Ryan Lochte the swimmer who is not David Phelps.


I believe all of the swimmers aren't David Phelps, unless there's one who doubles as a middle reliever.

   39. bachslunch Posted: February 15, 2020 at 09:18 AM (#5924574)
Hopefully he considers any deal with bridled enthusiasm. Otherwise, he might have to pony up more dough that he expects.
   40. Barry`s_Lazy_Boy Posted: February 15, 2020 at 10:21 AM (#5924578)
Magic is an icon. He is a bigger icon when he also owns the Dodgers.
   41. Edmundo got dem ol' Kozma blues again mama Posted: February 15, 2020 at 10:38 AM (#5924579)
Post reports: “We centaur our best reporters to cover this story. We will flog this story until it withers away.”
   42. snapper (history's 42nd greatest monster) Posted: February 15, 2020 at 11:30 AM (#5924585)
Magic is an icon. He is a bigger icon when he also owns the Dodgers.

Nah. I didn't even know he had a tiny piece of the Dodgers. Magic is an icon because of what happened on the hardwood.
   43. Hot Wheeling American Posted: February 15, 2020 at 11:37 AM (#5924587)
He described his portfolio as heavy in munis (at the time yielding 5.0% or so tax free) plus some residential real estate (probably REIT shares but he didn't elaborate) and blue chip stocks.

Rodriguez is a player in multifamily.
   44. bachslunch Posted: February 15, 2020 at 02:25 PM (#5924614)
This just in: the Gallop Poll backs ARod’s buying the Mets by nearly two to one. Sorry to trot out statistics like that, but you just can’t-err on the side of caution enough.

Show of hands when you’ve had your fill.
   45. Edmundo got dem ol' Kozma blues again mama Posted: February 15, 2020 at 02:41 PM (#5924615)
If he doesn’t get the Mets, will he get all sulky?
   46. Adam Starblind Posted: February 15, 2020 at 04:25 PM (#5924644)
[41] Not bad.
   47. Adam Starblind Posted: February 15, 2020 at 04:26 PM (#5924645)
This just in: the Gallop Poll backs ARod’s buying the Mets by nearly two to one. Sorry to trot out statistics like that, but you just can’t-err on the side of caution enough.


I would support an actual horse buying the Mets.
   48. Gonfalon Bubble Posted: February 15, 2020 at 05:56 PM (#5924664)
#44: Show of hands when you’ve had your fill.


There's a genuine risk we never will.

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