New York City Mets owner Fred Wilpon is buying an eight-bedroom, eight-bathroom luxury hotel in New York for $4 million, the team announced Monday.
The deal is expected to be completed in the second half of 2019.
The Mets will spend the money to purchase a suite in a luxury hotel, a restaurant, an indoor pool and a gym, the club announced.
Wilpons family bought the team in 2013.
The club also will invest in the team’s development of a new arena, according to the team.
The stadium, which is slated to open in 2021, will be located in the Bronx.
The new facility will also be the home of the Mets and the team will have a new clubhouse, a video board and locker room.