There has been a flurry of new information on the Marlins’ efforts to find new ownership. There’s still little clarity about how things will turn out, though indications are that a near-term agreement of some kind remains the expectation. Here’s the latest from Miami:
- As things stand, there are no prospective new owners ready or able to meet the asking price of current owner Jeffrey Loria, Charles Gasparino of FOX Business (Twitter link) and Jon Heyman of Fan Rag recently reported. With the club struggling financially — Heyman says it may lose as much as $75MM this year — there are ongoing questions about just where the purchase price will land and just how much cash a new ownership group will need upon taking the reins.
- While former Florida governor Jeb Bush had seemingly bowed out of the process after leaving the Derek Jeter-led bidding group, it now seems he’s changing teams. According to Scott Soshnick of Bloomberg, Bush is now participating in the bidding group led by Tagg Romney. With businessman Wayne Rothbaum also said to be in on that would-be partnership, providing the bulk of the proposed money along with Romney, it seems that things could be lining up for a competitive bid.
- In that newly arranged bidding effort, it seems that Rothbaum would end up being the control person, according to Barry Jackson of the Miami Herald. That title could still end up going to Romney, he notes, but Bush will not be named the control person. (He had, at one point, been proposed to take that role when aligned with Jeter.) Per Jackson, former big league hurler Al Leiter is also involved in the effort along with Tom Glavine and Dave Stewart, two other notable pitchers.
- Of course, there are still complications. Jeter is still involved, though the financial picture there remains unclear. And there’s now said to be a third bidder as well, though Jackson says that group is behind the others in the process. Previously unidentified, the new entrant is businessman Jorge Mas, as Jackson reported yesterday. Like the other groups, it’s not clear exactly how or how much he’ll pay for the franchise. Per Jackson, though, Mas is willing and able to post $200MM (if not more) as a starting point for a bid. Mas, chairman of the Cuban American National Foundation, is already a powerful figure in Miami.
just disband the franchise and declare all players free agents.
I’ve been saying that for 20 years.
Would need to disband 2 teams
“Would need to disband 2 teams”
TAMPA
MLB in Florida does not work.
Free Evan Longoria!
astros should never have been made to move to the al. brewers should have been sent back to the al.
Either the A’s or Rays. Maybe the Rays would make sense so your getting rid of both Florida teams, and nobody would really care. Expect the players who’d be losing money.
Why? As are a founding member of the al
Mainly because of there stadium. They either need to get a new one, which I thought I heard they were maybe sometime soon, or relocate.
No team is being disbanded. The Marlins will sell, just nowhere near the $1.6 billion Loria originally wanted and probably closer to $900 million with the purchasing group being required to have at least 2 years of operating capital, or around $200 million, liquid.
With $300 million committed to one player, the league’s lowest TV contract that does not come up for renewal until 2020, and an ownership and management that has gone out of its way to alienate fans, the franchise is bleeding money and is more than $400 million in debt.
Loria needs someone to bail him out, it’s just not going to make him the profit he wanted.
FYI, nobody really thinks that any teams will be get disbanded.
its happened before. it will happen again.
No team has been contracted for at least 100+ years. Selig tried to contract the Twins and Expos in 2001 but that failed.
I’m still convinced that was a maneuver to get leverage against the MLBPA for the first CBA negotiatio to come up after the strike.
asking price was 1.3 billion
No MLB team has ever lost money.
Jeffrey Loria has been clearing tens of millions every year.
Disagree? Show me the evidence.
Doyuers are heavily in debt
No Frank McCourt was draining money out to buy houses and a private jet, fully knowing that his debts would be taken care of by the coming TV contract. Instead MLB forbid McCourt from signing a TV deal and paid him a billion and half dollars to go away.
The media lies and lies and lies again about how much money the owners make.
Pilots were bleeding money
Selig should “encourage ” Loria to sell to Mas and company. Not only he is probably well capitalized (especially if Jeb Bush, or, Romney join his group). Add to that he has deep ties to Miami, AND he’s a minority, he checks all the boxes for an ideal owner for the Marlins. And, if he adds Jeter, and/ other interested ex-MLB players, would make his group unbeatable.
Manfred is the commisioner now; I’m sure he’ll steer the sale in whichever direction makes the most money for the owner and for MLB.
Just disband the Rays, make the Florida Marlins again. The Original Teal Marlins. bring Longo to Miami, Archer make 1 team with the best players from both. Happy ending. If it was just that easy
I say disband all 14 expansion teams and go back to two 8-team leagues.
Now that would be funny. I wonder if that league would make it through even a half-season before folding.