(CBSNewYork)- Former New York Yankees third baseman Alex Rodriguez and his fiancée Jennifer Lopez are reportedly looking into making a bid on a baseball team. That team is not the Yankees but rather, their crosstown rivals the New York Mets.
According to a report from Variety, the couple has retained the services of JP Morgan Chase to raise capital for a possible bid on the franchise. In the report, Variety states that the couple is working with the managing director of the bank, Eric Menell, who is the co-leader of the institution’s media investment operation.READ MORE: Columbia University Student Davide Giri Stabbed To Death Near Morningside Park; Suspected Gang Member In Custody, Sources Say
Spokespeople for both Rodriguez and Lopez did not respond to requests by the magazine for comment and neither did Menell.READ MORE: Caught On Video: Suspect Steals Lexus SUV That Was Left Running In Brooklyn
The current owners of the team, the Wilpon family, had agreed to sell 80% of the team to hedge fund manager Steve Cohen in a deal worth $2.6 billion in December. However, that deal fell apart when Cohen attempted to amend the deal.MORE NEWS: Morscher's Pork Store: A Ridgewood Family Business Runs On Hard Work
For Rodriguez and Lopez, they would likely need a similar set up to the one that former Yankees shortstop Derek Jeter was involved in when bidding on the Miami Marlins. Jeter owns a 4% stake in the club, but is running the team’s baseball operations while Bruce Sherman is the team’s managing partner. The combined net worth of A-Rod and J-Lo is reportedly around $700 million.