Mystery Man Sheldon Adelson Joins Bidding for Mets

by Jonathan Pereira Posted on 16 Jul, 2020

The Mets who are the sixth most valuable franchise in Major League Baseball, are currently valued at $2.4 billion, as per Forbes. Last year in December, owners Fred and Jeff Wilpon were looking to sell the team, which they have been controlling since 2002. In the first round of bidding, billionaire Steve Cohen reportedly offered $2 billion. While Alex Rodriguez and fiance Jennifer Lopez joined the bidding with $1.7 billion with NFL players Brian Urlacher, Travis Kelce and DeMarco Murray. 

The mystery man Billionaire casino mogul Sheldon Adelson and his equity firm Silver Lake Partners are part of the group led by Josh Harris and David Blitzer. Harris and Blitzer already own the Philadelphia 76ers and New Jersey Devils. The 86 year old Adelson is worth $30 billion and the Silver Lake Partners is around $43 billion, they have been rumoured to have an interest in a professional sports team. Harris and Blitzer together are worth around $5 billion. This massive combined wealth will present a real threat to Cohen as he was likely to win the bid over the Mets.

The billionaire tycoon who owns the Venetian and Palazzo here in Sin City and also bought the local newspaper in town in 2016 is somewhat controversial figure from the casino world could make it more difficult for him to gain approval from MLB owners. If he’s only a limited partner, he could purchase a stake in the team without needing approval from the league. 

A spokesperson for Adelson reached out to a forum  to say that “Mr Adelson has no interest in purchasing the Mets,” pushing back on the idea that “Adelson and private equity firm Silver Lake Partners aren’t bidding on the team on their own, rather they are joining the group led by Josh Harris and David Blitzer in pursuit of buying the team”. 

For more updates, keep reading GutshotMagazine.com and stay tuned!

 

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