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Reports: New York Mets owners want to close sale by October

Three takeover groups interested in acquiring MLB franchise.

26 June 2020 Tom Bassam

Getty Images

  • Britain’s billionaire Reuben brothers latest to join New York Mets takeover race
  • Philadelphia 76ers owners reportedly offering US1.4bn
  • Quick sale would see new owners take on US44m Citi Field debt payments in 2021

The owners of Major League Baseball’s (MLB) New York Mets want to lock in a buyer for the franchise by October, according to the New York Post.

With Sportico reporting that UK-based billionaire siblings David and Simon Reuben have joined the race for the franchise, there are now three parties competing to complete a deal with current owners the Wilpon family.

The Reuben brothers are also part of a Saudi Arabia-backed prospective takeover of English top-flight soccer club Newcastle United.

A consortium led by retired New York Yankees star Alex Rodriguez and fiancé Jennifer Lopez, which also features BodyArmor co-founder Mike Repole, was the first group with a reported interest in the Mets. The owners of the National Basketball Association’s (NBA) Philadelphia 76ers, Josh Harris and David Blitzer, also recently emerged as potential suitors.

According to the New York Post, the Wilpon family will be fielding initial bids in July and hope to have a deal in place by October so it can be signed off in time for the 2021 MLB season. Closing a deal by that date would also reportedly see the new owner take on responsibility for the US$44 million in debt payments owed on Citi Field next year.

Reports in the US suggest that the bid from Harris and Blitzer, which does not cover the SNY regional sports network (RSN), is worth US$1.4 billion. 

That would represent a significant decrease in value on a previous US$2.6 billion takeover deal with hedge fund billionaire Steve Cohen, which collapsed at the eleventh hour earlier this year. 

The New York Mets owners want to lock in a buyer for the franchise by October,

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