Report: Derek Jeter and Jeb Bush's group wins auction for Miami Marlins
It looks like a long-talked-about ownership change is happening with the Miami Marlins, and the next owners are a couple of guys with very recognizable names — Derek Jeter and Jeb Bush.
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According to Bloomberg’s Scott Soshnick, the Jeter-Bush group won an auction to buy the Marlins from owner Jeffrey Loria. Further, Barry Jackson of the Miami Herald says the two sides have an agreement in principle with a $1.3 billion price tag that still needs to be finalized and approved by Major League Baseball.
More details on the sale via Jackson and The Herald:
A source said the Marlins and Bush group are very optimistic a deal will be finalized, but the process could take months to conclude. Bush plans to be the Marlins’ “control person,” the individual who would have ultimate control over franchise decisions, according to the source.
Jeter, the former All-Star player who lives in Tampa, plans to take an active role with the franchise. Bush’s group includes at least five investors, and it’s unclear which of those investors has the most money invested in the bid.
Both Jeter and Bush had previously been reported as suitors for the Marlins, as Loria dangled them out for sale. Last week, we learned they had combined forces in hopes of fending off another group that was led by Tagg Romney, Mitt Romney’s son, and included MLB Hall of the Famer Tom Glavine.
For Jeter — who has mainly focused on publishing in his post-baseball life — this marks a return to MLB. He’s talked about wanting to get into ownership for years, most recently last December when he told reporters at a charity event:
“I’ve made it very clear of ownership aspirations at some point. Who knows when that is, who knows if you get the opportunity. I hope I do,”
For Bush, it’s a trip into the other family business. His brother George W. Bush was once the owner of the Texas Rangers and his father, George H. W. Bush, was a baseball player at Yale.
Loria purchased the Marlins in 2002 for $158 million. A December report said he was looking for $1.7 billion for the club. The sale couldn’t be approved until the next MLB owner’s meetings, which are May 16-18 in New York.
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Mike Oz is the editor of Big League Stew on Yahoo Sports. Have a tip? Email him at mikeozstew@yahoo.com or follow him on Twitter! Follow @MikeOz
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