By Ryan Velez
Recently, there has been a flurry of rumors surrounding parties interested in buying the Miami Marlins baseball team, including groups led by former Florida Governor Jeb Bush and former Yankees shortstop Derek Jeter. Celebrity Net Worth reports that the dust has finally settled, and it looks like both big names are going to have a part in the future of the team.
Bush and Jeter have now come together to lead a group to purchase the Marlins from current owner Jeffrey Loria for $1.3 billion. The “agreement in principle” is the second-highest price for an MLB franchise to date. The current record holder is held by the Dodgers, purchased for $2 billion in 2012 by Guggenheim Partners and Magic Johnson.
Back in February, Loria was reported to have a “handshake agreement” to sell the team to members of the Kushner family for $1.6 billion, Jared Kushner being the son-in-law of Donald Trump. When reports came out that Loria could be the next ambassador to France, things soon fell through. Granted, even this deal isn’t set in stone yet. Major League Baseball still has to approve the final contract. As of right now, Bush will likely be the main head of the franchise, with Jeter contributing in a yet-to-be-determined “active role.” Shortly after his retirement, Jeter made his intentions of team ownership clear, and while he didn’t have the capital to buy one outright, this is a major step towards his goals.
Regardless of the final new structure, one guaranteed winner in all this is Loria. In 2002, he purchased the Marlins for only $158.5 million, which means a huge profit with this sale.
As for the fans of the franchise? The Miami Marlins have two World Series wins to their name in the last 20 years, winning it all in 1997 and 2003, but a great deal of mismanagement has led to fans being disappointed in their team often. While the exact nature of this new management is still being determined, a shakeup may be something to give fans hope that a positive change on the horizon. Amusingly, before the deal was set, Marlins manager Don Mattingly said that Jeter would be a good owner, if only because he “pretty much seems to be good at everything that he tries to do.” It looks like time will tell.