After months of searching, Alex Rodriguez may have finally found a financial backer for his bid to buy the New York Mets: Mike Repole.
According to Darren Rovell of Action Network, Alex Rodriguez and Jennifer Lopez have found their main financial backer. Billionaire Mike Repole is set to join the couple’s bid to buy the New York Mets.
BREAKING: The A-Rod/J-Lo bid to buy the Mets is VERY REAL.
Sources say lifelong Mets fan, Queens native and billionaire Mike Repole, of BodyArmor & Vitaminwater fame + successful horse owner, has joined the group as a general partner.
A dream ownership team for any Mets fan. pic.twitter.com/Ad3BgiHpk6
— Darren Rovell (@darrenrovell) June 22, 2020
Repole is a life long Mets fan who was born and raised in Queens. He earned his billion by working in the sports drink industry. He’s best known for Vitaminwater and BODYARMOR. He’s also known for Repole stables, one of the premier horse racing teams in the United States.
With Repole — and his $1 billion net worth — onboard, suddenly J-Rod’s bid becomes serious. The couple raised $250 million less than a week ago and they already have an impressive $700 million net worth of their own.
With the Mets’ value plummeting due to COVID-19 and the Wilpons’ poor financial situation, they may be closing in on enough capital to make a compelling bid. With Repole onboard, the hard part is over.
All that’s seemingly left for J-Rod to do is find smaller investors, as they did last week, looking to become minority owners. That’s a much easier task then landing a big fish to become the team’s main financial backer.
If there’s one thing that Mets fans need to know about Repole, it’s that he’s not cheap and he cares about sports. In April of 2019, Repole went on WFAN to rip St. John’s for their head coaching search.
Repole is a booster for the athletic program and wasn’t happy with how his money was being spent. He believed the reason prominent head coaches were avoiding the team was because they were too cheap.
That sounds like a guy who would be comfortable spending a lot of money to make his hometown baseball team great. If Repole and J-Rod do put together the winning bid, it will be exciting times in Queens.
Two owners who grew up huge Mets fans and have the money to make the team they love great. What more could Mets fans ever hope for?