Jeb Bush drops out of Marlins bidding, leaves group led by Derek Jeter
Derek Jeter’s bid to buy the Miami Marlins just got a bit more difficult. Former Florida governor Jeb Bush has ended his pursuit of the team and is no longer part of Jeter’s group, according to the Associated Press.
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While Bush was considered a big name, his exit won’t impact Jeter’s plan. The former New York Yankees legend still plans on going after the team, he just needs to find another investor.
That might not be too difficult. Bush didn’t have a lot of money committed to the deal, so Jeter may be able to find another backer with ease, according to Barry Jackson of the Miami Herald.
Jeb Bush had less than $20 M of own money in deal, per MLB source So Jeter group loses nothing meaningful without him.
— Barry Jackson (@flasportsbuzz) May 30, 2017
Bush’s unwillingness to contribute more may have been the main factor in him leaving the group. There was an issue over whether Bush could take on a significant role within the organization with so little invested.
….issue arose in recent days about whether Jeb could still be control person, or Managing partner, with such little invested.so Jeb exits
— Barry Jackson (@flasportsbuzz) May 30, 2017
Instead of upping his commitment, Bush decided to leave.
Finding a replacement shouldn’t be tough. While $20 million seems like a ton of money, it’s not a huge sum to the types of people who can buy sports teams. On top of that, the opportunity to work with Jeter should draw plenty of interested investors.
In the end, though, they could be joining a losing cause. Though Bush should be easily replaced, it’s believed his exit gives a group led by Tagg Romney and Tom Glavine an advantage in the bidding. Yes, another former player and political figure have teamed up to buy the Marlins.
Romney and Glavine’s team reportedly offered $25 million more than Jeter’s group, and that was before Bush left, according to the Miami Herald. Those groups appear to be the only two seriously involved in the bidding. With no deal completed, it’s possible another team could sneak in at the last minute.
If Jeter wants to come out on top, he’ll need to find someone who is lauded for his business savvy, has a lot of money and has an interest in baseball. It would also help if that person had local ties, considering that was Bush’s big draw.
Think Jeter knows anyone like that? A former teammate, perhaps?
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Chris Cwik is a writer for Big League Stew on Yahoo Sports. Have a tip? Email him at christophercwik@yahoo.com or follow him on Twitter! Follow @Chris_Cwik
