Alex Rodríguez and his advisers were upset when they learned that potential Mets co-investor Mike Repole wanted to be a general partner in their bidding group, but Repole apparently understands that A-Rod remains the captain, the sources said.
Multiple reports on Monday said that Repole was investing money with the A-Rod group and that he was going to be a general partner.
Major League Baseball only allows one control group per team. The rest of the owners of a team are generally considered limited partners, even if they have something to say in operations.
Vitamin Water Co-Founder Repole and Florida Panthers owner Vinny Viola are in talks to invest $ 250 million combined with A-Rod and Jennifer Lopez in their bet on the Mets. Nothing has been finalized. Repole and Viola want a significant voice in the operations, the sources said.
However, they understand that MLB generally only allows one controlling person and that it will be A-Rod, various sources told The Post.
If A-Rod and J.Lo are married, the couple can become the controlling party, the sources said.
J-Rod is prepared to invest hundreds of millions of his own money in the deal, the sources said, putting them on a financial footing with Repole and Viola.
Viola could afford to invest a lot more in a Mets transaction, but does not plan to do so at this time, the sources said.
“J-Rod has a vision of what they want to do with the franchise,” said one person familiar with J-Rod’s thinking. “I don’t think his plan is to make a deal with Jeter of two guys who only contribute $ 250 million.”
In 2017 Derek Jeter invested $ 25 million in a $ 1.2 billion offer to buy the Miami Marlins. That deal left billionaire financier Bruce Sherman as the team’s controlling partner, with Jeter owning 4 percent while serving as the face of the franchise and the team’s CEO.
J-Rod’s bidding group, if you now have $ 500 million in cash, will need more capital to fund an expected offer of between $ 1.4 billion and $ 2 billion for the Mets.
Other potential investors are not yet known.
A Steve Cohen deal for the Mets collapsed earlier this year because the Wilpons wanted to maintain their position as the Mets’ controlling party during a five-year ownership transition period.
Meanwhile, Variety reported Tuesday that the Reuben Brothers were interested in buying the Mets.
The Reubens have recently started buying trophy properties in New York.
Instead, London-based David and Simon Reuben, with a combined value of $ 12 billion, are likely interested in buying the real estate around Citi Field from the Wilpons and not the team, two sources close to the situation.
The Ruben brothers made their fortune during Russia’s bloody aluminum wars of the 1990s. These guys are not without scandals.
“They will never give MLB their tax returns,” said one of the sources.
However, the Wilpons could sell them real estate rights without going through MLB by giving them liquidity if they don’t like J-Rod’s offer or a possible competitive bid from 76er owners Josh Harris and David Blitzer, sources said.
The Reubens are likely a backup plan, the sources said.
Currently, the Reubens are part of a group tender for the British football team Newcastle United and would take a minority stake in the team.
The Post reported a few weeks ago that there was a mysterious international bidder for the Mets and that it appears to be the Reubens.