Yankees legend Derek Jeter and former Florida governor Jeb Bush are both working to put together bidding groups to make a run at buying the Marlins, according to a report from Charlie Gasparino and Brian Schwartz of FOX Business. There is at least one other rival bidding group, per the report.
Jeter has already launched the popular Player’s Tribune website since hanging up his spikes, but could now seemingly embark upon another major business undertaking in advance of his likely Hall-of-Fame enshrinement in 2019. The former shortstop is said to be working with an investment banker who was previously affiliated with Morgan Stanley, though it’s not clear whether that firm is involved.
Meanwhile, Bush has lined up with Citigroup to weigh a proposal to take over the team from Jeffrey Loria, who is reportedly preparing to cash in on the organization at some point in the near future. And there’s a third known group as well; though it has no known headlining names, it’s said to have the backing of financial powerhouse Goldman Sachs.
Loria bought the team back in 2002 at a $158MM price tag. This time around, it figures to be worth quite a bit more, with some reports pegging the likely open-market value in the range of $1.4B to $1.7B. Whether or not it actually lands in that range remains to be seen, but Loria is positioned to cash in on both the publicly financed Marlins Park and the success of MLB Advanced Media — an entity that is co-owned by all thirty teams and has expanded its portfolio beyond the baseball realm.