The multibillion-dollar bidding war has begun when the sports franchise is on the open market in South Florida. According to Fox Business on Wednesday, at least three bidders reportedly have expressed interest in acquiring the Miami Marlins. Former New York Yankees star shortstop Derek Jeter and former presidential candidate and Florida governor Jeb Bush are among potential buyers.
Gregory Fleming, Jeter's representative who operates his own investment banking market, was involved in a discussion with Marlins president David Samson. Fleming is an experienced Wall Street executive and former Morgan Stanley brokerage chief.
In addition to Jeter, Bush partners with Citigroup to invest in bidding on its franchise.
Businessmen are a part of the third bidding group that has received financial backing from Goldman Sachs Group, Inc. The firm, which offers a board range of financial services to client base, is better known for investing in a sports franchise. As an investment banker for the Yankees, Goldman has bought a one-third stake in its YES television network.
The Miami Marlins on sale
In February 2017, Marlins owner Jeffrey Loria had a "handshake agreement" to sell the $1.6 billion franchise to the family of Jared Kushner. However, the family backed off and decided not to purchase the Marlins when Loria considered becoming an ambassador to France for the Trump administration.
Kushner is President Donald Trump's son-in-law and a White House adviser.
The price for the number of people involved in the bidding process could vary from $800 million to $1.6 billion. The report cited that Jeter and Bush need partners to finance the deal to complete the purchase regardless of their net worth. Sources with knowledge of the situation noted that the Marlins would not place the team on sale if bidders could not reach close to $1.6 billion.
"From what I understand whoever has the most cash will get the deal," one senior baseball executive, who wish to remain anonymous, said. "And who knows what the Marlins might do in the end if they don't get the number they want."
Loria was a New York-based art dealer and an owner of the Montreal Expos in the early 2000s prior to becoming an owner of the Marlins.
The 76-year old businessman sold the former Canadian baseball franchise, which was later relocated to Washington D.C. and renamed to Washington Nationals in 2005. In 2003, Loria purchased the Marlins for estimated $158 million.
Jeter and Bush in bidding mix
The Marlins led a 4-2 series victory over the Yankees in the 2003 World Series.
Jeter seems to enjoy the success on and off the field. The Captains has earned the Most Valuable Player awards and won multiple World Series with the Yankees, and is a lock to be chosen for the Baseball Hall of Fame in 2020. Jeter has established private businesses, including The Players' Tribune, a new media platform that provides content on professional athletes' lives and careers.
While Bush currently lives in the Miami area, he resides in Coral Gables, Florida. His brother, George Bush, the former president, previously acquired the Texas Rangers as a co-owner and a managing partner in 1990s.
