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Latest On The Marlins’ Potential Sale

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Here’s the latest surrounding the potential sale of the Miami Marlins…

  • Derek Jeter and former Florida governor Jeb Bush, who are leading one of the groups bidding for the Marlins, believe the team “has been spreading misinformation including the terms of the bid,” Ken Davidoff and Josh Kosman of the New York Post report.  Jeter and Bush “were exasperated” by apparently inaccurate reports from earlier this week saying they had reached a general agreement to buy the Marlins, as the Jeter/Bush group is still trying to line up investors.  A source tells Davidoff and Kosman that Jeter and Bush may eventually decide to not bid altogether: “These are not guys who can afford a vanity acquisition.  My guess is they will back out,” the source opines.  The Jeter/Bush group has enlisted the help of New York hedge fund financier Anthony Scaramucci as an advisor to bring some new investors into the bid, though Scaramucci himself won’t be joining the ownership group.
  • Joel Sherman of the New York Post breaks down the economics behind the potential sale, which goes well beyond the $1 billion-plus price tag.  Some in the game say the Marlins are $400MM in debt, and a new ownership faces losses in the range of $150-$200MM over its first few years of operations since the club lags behind in such revenue-generating streams as attendance, sponsorships, and a local TV contract.  “Some creative bookkeeping” will be required to work out the sale price no matter which competing group ends up buying the Marlins, and current owner Jeffrey Loria “will accept the fastest deal that meets his requests and he believes will be approved by the other owners” in order to get out from under this financial burden.
  • Given these costs involved in buying the Marlins, Sherman raises the possibility of another fire sale as a way that a new ownership group could cut costs.  Nick Cafardo of the Boston Globe also raises the possibility, particularly in regards to trading Giancarlo Stanton.  The slugger is owed $63MM through the 2019 season, and then, if he doesn’t exercise his opt-out clause following that year, a whopping $244MM through the 2027 season.  Even though Miami would surely have to eat some of this contract in a trade, Cafardo still wonders if a deal could be reached given Stanton’s injury history and less-than-elite production in 2016.
  • Also from Cafardo’s piece, he reports that the ownership group led by Tom Glavine and Tagg Romney appears to have all of the investors arranged behind its $1.1 billion bid.  A source tells Cafardo that it doesn’t appear as though as of Glavine and Romney’s investors would leave the bid to join the Jeter/Bush group.
  • Marlins manager Don Mattingly and catcher A.J. Ellis are no strangers to performing under an ownership change, Bill Shaikin of the L.A. Times writes, as both were with the Dodgers during that team’s perhaps even more tumultuous sale from Frank McCourt to the Guggenheim Baseball ownership group.  “That uncertainty, at this stage, is definitely hanging,” Ellis said.  “There’s so many guys here who have been with the Marlins their whole life. That’s all they’ve ever known. It could be a huge life change for them.”

Tom Glavine Part Of Group Working To Purchase Marlins

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Hall of Fame pitcher Tom Glavine may be part of the Marlins’ next ownership team. The former Brave and Met is a member of a faction that has put in a bid to purchase the franchise from owner Jeffrey Loria, reports Scott Soshnick of Bloomberg. Solamere Capital co-founder Tagg Romney, son of 2012 Republican presidential nominee Mitt Romney, is at the helm of the group. Notably, Mitt Romney is not involved in this venture.

The exact price of the Romney group’s bid isn’t known, though Soshnick relays that offers for the Marlins currently range between $1.2 billion and $1.3 billion – an enormous increase over the $158MM Loria paid in 2002. Fifteen years later, Loria “wants to get out of it,” Glavine told Nick Cafardo of the Boston Globe. Glavine added that he feels “very good” about the Romney offer, though the 51-year-old declined to disclose whether he’s committed to putting forth any money (Glavine made just under $130MM as a player, per Baseball Reference). Glavine’s also unsure of how long a potential sale might take to go through, but he did reveal that his main purpose has been to woo investors to the Romney side.

The 305-game winner went into further detail in his discussion with Cafardo, saying: “It’s been a lengthy process. I was contacted a couple of years ago by some people to ask whether I’d have an interest in doing something along these lines, and I certainly did. This Marlins situation came about last summer. After casual conversations and kicking tires it became apparent we could put people together and raise money.”

If the Romney-led team does succeed in buying the Marlins, it’s unclear which role Glavine would take with the franchise, but he would “certainly want” some sort of position.

“I’m not going to say I’m the GM, but I know the game pretty well,” said Glavine. “I understand it. There’s a lot on the business side that I don’t understand, so I’m open-minded about what the best role for me would be and what I like to do the most.”

Glavine informed Cafardo that he believes at least three groups have made efforts to secure the Marlins. Quogue Capital founder Wayne P. Rothbaum is at the helm of one, per reports from both Soshnick and Douglas P. Hanks of the Miami Herald. However, Soshnick’s information differs from Hanks’ with respect to a couple of other prospective buyers, ex-Yankees shortstop Derek Jeter and former Florida Governor Jeb Bush. Those two have teamed up to buy the Marlins, according to Hanks, but Soshnick notes that’s not yet the case. Instead, as of now, Jeter and Bush have only discussed working together, per Soshnick.

Derek Jeter, Jeb Bush Reportedly Team Up In Effort To Purchase Marlins

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Future Hall of Famer Derek Jeter and former Florida governor Jeb Bush have both been previously reported as potential buyers for the Marlins, but the two have now teamed up in their pursuit of the franchise, reports Douglas Hanks of the Miami Herald. The primary competitor for the Bush-Jeter group appears to by New York financier Wayne Rothbaum, according to Hanks, though other groups could yet be involved in the pursuit.

Marlins president David Samson has been candid about the possibility of a sale this year, and owner Jeffrey Loria has acknowledged that there have been inquiries from potential buyers. Loria reportedly had a “handshake agreement” in place to sell the team for $1.6 billion to a group led by Joshua Kushner — the brother of Jared Kushner, who serves as a senior advisor to his father-in-law, president Donald Trump. However, Kushner reportedly did not have enough liquid assets to make the purchase at that price, and eventual rumors that Loria could be named the United States ambassador to France further complicated that potential sale. Kushner eventually issued a statement indicating that he would no longer pursue the deal.

It’s not known at this time exactly what price the Loria is eyeing in a potential sale, though some reports since the first word of the handshake agreement with Kushner have suggested that the team could sell for quite a bit less than that $1.6 billion figure. It stands to reason, though, that the Bush-Jeter group would need additional members in order to pool the requisite funds to make a purchase feasible. Jeter is one of the wealthiest stars in MLB history but still saw his career earnings end up around $265MM (though that figure does not include the undoubtedly sizable sum he has earned from endorsement deals over the past two-plus decades, to say nothing of other investments and ventures).

Charlie Gasparino and Brian Schwartz of FOX Business reported earlier this month that Jeter was working with former Morgan Stanley brokering chief Gregory Fleming (who is now with a small brokerage firm in New York, per AdvisorHub.com’s Mason Bradwell) in his effort to purchase the club. Bush, meanwhile, was said by the FOX Business duo to have enlisted Citigroup to help finance a potential bid. It’s possible that all of those parties have merged to form one cohesive effort at purchasing the Marlins organization, though concrete details on the matter have yet to emerge.

This Date In Transactions History: Derek Jeter

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On November 1st of 2013, the Yankees did one of the most natural things imaginable for the organization, deciding once again that Derek Jeter would be the shortstop for the following season. At the time it wasn’t clear, but it turned out to be the final time the organization would make that call, as Jeter announced just before 2014 Spring Training that it would be his final campaign.

The one-year, $12MM contract struck between the Yanks and their aging franchise icon kicked off a dramatic farewell tour, brought Jeter’s fantastic career to a close, and wrapped up an interesting transactional history between the two sides. His first big contract — ten years, $189MM — came one year after the sides had seemingly agreed to a lesser deal that ultimately wasn’t consummated by owner George Steinbrenner.

In the 2010-11 free agent period, Jeter was already a Yankee legend but was coming off of a poor season as he entered the open market. It took a bit of gamesmanship — MLBTR’s Mark Polishuk called it a “tug-of-war” before the month of November was out — before the sides finally agreed to a three-year, $56MM deal. (GM Brian Cashman said this on November 23, 2010: “He should be nothing but a New York Yankee,” Cashman said. “He chooses not to be.”) There was drama even after that deal was struck, too, with chatter about moving Jeter to the outfield (see here and here) and discussion of hurt feelings.

Heading into 2013, it seemed that Jeter might again command a multi-year pact. He was fresh off of a productive and healthy 2012 in which he slashed .316/.362/.429. But the aging star managed to appear in only 17 games in 2013, with a variety of leg injuries keeping him off the field.

Complicating matters was a player option that was ultimately valued at $9.5MM by operation of incentives provisions. Negotiations weren’t contentious this time around, but nevertheless proved as complicated as anything the sides had previously arranged due to CBA considerations that still seem unclear in retrospect. (Want to have a crack at understanding it? You can check out all the contemporaneous reporting right here.)

Ultimately, the deal didn’t pay off from an on-field perspective. Though Jeter made his 14th All-Star game, that was an honorary nod — albeit one that delivered some memorable moments. He did still play nearly every day, wrapping up his career with a .256/.304/.313 batting line over 634 plate appearances. And New York’s second place finish in the AL East wasn’t enough to snag a Wild Card spot.

Of course, that tepid finish did little to change the fact that Jeter enjoyed an unbelievable run with the game’s most iconic franchise. All told, he took over 12,000 plate appearances over two decades and compiled a lifetime .310/.377/.440 batting line with 260 home runs. He helped lead the organization to five World Series titles, and racked up 71.8 wins above replacement by measure of both fWAR and rWAR. Jeter is a surefire first-ballot Hall-of-Famer, with the only question now is whether he’ll become the first player to receive unanimous support in his first year of eligibility.

NL East Notes: Marlins, Jeter, Upton, Phillies

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Despite rumblings to the contrary, Derek Jeter says he’s not making a play to buy the Marlins, writes Christian Red of the New York Daily News.  “You got money for me? A report I’m gonna buy it, who am I buying with? Unless you got money for me,” Jeter said. “You believe everything you read?” More from the NL East..

  • Mike DiGiovanna of the Los Angeles Times (on Twitter) heard from one AL exec that the Royals have talked to the Braves about outfielder Justin Upton.
  • David O’Brien of the Atlanta Journal-Constitution lays out the case for the Braves trading Upton.  Upton is one year away from free agency and Atlanta wants to build a strong team for 2017 and beyond as they get ready to move into a brand new stadium in Cobb County.
  • Phillies GM Ruben Amaro is being more realistic about the value of his players than he was in July, writes Tyler Kepner of the New York Times. “Teams just don’t want to give up the talent. They’d rather give up the money than the talent. So we have to have an understanding of that, and at the same time we have to identify the guys that are still pretty talented and not take a bath,” Amaro said.  Right now, the Phillies aren’t receiving a ton of trade interest.
  • If the Marlins can’t find the top of the rotation starter they’re looking for, Joe Frisaro of MLB.com suggests that they should instead make a play for Reds closer Aroldis Chapman and build a super bullpen.  With Chapman, Miami could either move Steve Cishek for a starter or a power bat or keep him and use him in the eighth inning, giving them one of the best combos in the National League.

NL East Notes: Phillies President, Beachy, Marlins

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It’s unclear who is steering the ship for the Phillies, writes Bob Brookover of the Philadelphia Inquirer. There is speculation that team president Dave Montgomery may have been ousted. The Phillies partially denied the report, saying “no determination [has been] made.” Others suggest a decision could be reached in January. Montgomery is currently recovering from jaw cancer surgery. Hall of Fame executive Pat Gillick is the interim president.

  • On a related topic, Phillies minority owner John Middleton may be interested in acquiring a majority share of the club. Middleton currently has a 48 percent stake in the team. From my vantage, the Phillies should try to get ahead of these stories which have plagued them all offseason. Uncertainty over future stakeholders can only hurt the club’s position with free agents and in the trade market.
  • Recently non-tendered Braves starter Brandon Beachy is drawing interest from 10 teams, tweets Chris Cotillo of SB Nation. The Braves are among the interested clubs, but aren’t the most aggressive. He’s expected to land a major league deal and has multiple offers on the table. Beachy is currently rehabbing from his second Tommy John surgery. An aggressive rehab schedule could have Beachy back on the mound in the early part of the season, but the average recovery time would indicate a mid-to-late season return.
  • Extension candidates top the list of Winter Meeting activities for the Marlins, writes Joe Frisaro of MLB.com. Jose Fernandez, Christian Yelich, Adeiny Hechavarria, and Marcell Ozuna are among those with open discussions. Other topics of interest include the club’s interest in Jake Peavy and potential willingness to trade Garrett Jones.
  • Derek Jeter’s recent visit with the Marlins could signal his interest in purchasing the team, suggests Ken Davidoff of the New York Post. He has long talked about his plans to purchase a club, and he has some ties to Florida. It’s unclear if current owner Jeffrey Loria is willing to sell. Jeter doesn’t possess the wealth necessary to buy a majority stake in a major league franchise, but he could headline a consortium.

Yankees Links: Ichiro, Offseason, Hardy, Jeter

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When asked if he’d return to the Yankees in 2015, Ichiro Suzuki told reporters (including NJ.com’s Brendan Kuty) via an interpreter, “That might be a question you shouldn’t ask right now.”  Suzuki said he intends to continue his career, though other comments hinting at some clubhouse drama seem to imply that his time in the pinstripes could be over.  “Obviously there’s a lot of things that go on that the fans and the media can’t see, that goes on inside (the club),” Suzuki said.  “But what I can say is that the experiences I had this year, those experiences are going to help me in the future. It’ll be somewhat of a support for me because of the experiences I had this year.”

Here’s some more Yankees news…

  • While the Yankees will keep an eye on free agents Jon Lester, Max Scherzer and James Shields, “the early industry vibe is the Yankees aren’t going to spend big money this winter,” George A. King III of the New York Post reports.  It makes sense that the Yankees would take a step back after spending over $550MM on player salaries last offseason, though by the Yankees’ standards, what they consider “not big money” could still result in a significant cash outlay.
  • Also from King, free agent shortstop J.J. Hardy is “the early favorite” to take over the shortstop job in the Bronx next season.  Hardy will draw a lot of attention on the open market, though there’s also a chance he could stay in Baltimore — MASNsports.com’s Steve Melewski made the point in August that the O’s could see Hardy as a long-term answer at shortstop if Manny Machado’s injuries prevent him from eventually switching positions.
  • Was Derek Jeter’s 10-year, $189MM deal actually a bargain for the Yankees?  CBS Sports’ Mike Axisa believes it was, given Jeter’s consistent production from 2001-10 and his immense off-the-field value to the organization in boosting everything from TV ratings to merchandise sales.  Jeter’s deal also has a case as the best completed $100MM+ contract in baseball history — Albert Pujols, Alex Rodriguez and Manny Ramirez topped Jeter in terms of WAR, but Jeter’s role as a franchise icon may trump those three in terms of overall value to his team.

Quick Hits: Jeter, WAR, Syndergaard

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The Yankees’ ceremony for retiring icon Derek Jeter on Sunday was “undeniably nice,” but “sort of weird,” FOX Sports’ Ken Rosenthal writes. The ceremony felt “grim,” Rosenthal opines, and underpinning all the celebration was the fact that the Yankees likely aren’t going to the playoffs this year. Jeter is the last remaining player of the Yankees’ “Core Four” that also included Jorge Posada, Mariano Rivera and Andy Pettitte, and it might be awhile before the Yankees are again able to reach the lofty heights they did when those players were in their primes. Here’s more from throughout baseball.

  • The WAR statistic currently used by many fans as an all-encompassing evaluation tool needs to change, Yahoo! Sports’ Jeff Passan writes. Most of Passan’s criticisms have to do with assigning win values to defensive performances in ways that aren’t suitably sensitive to context and that vary too widely. Passan thinks WAR might value good defensive corner outfielders (like Jason Heyward) too highly. Also, different types of WAR are calculated differently, which sometimes leads to large differences in how the two key types of WAR (Fangraphs and Baseball Reference) evaluate both position players and pitchers.
  • The Mets will select the contract of veteran outfielder Bobby Abreu and promote reliever Gonzalez Germen this week, but they will not promote pitching prospect Noah Syndergaard, Andy Call of MLB.com reports. “[Not calling up Syndergaard] was definitely a decision we talked about a lot,” says Mets assistant GM John Ricco. “If there were some starting pitching opportunities left, it might have been different. But there are no starting opportunities here the rest of the season.” Newsday’s Marc Carig reported in late August that the Mets were unlikely to make Syndergaard a September call-up. Syndergaard, the Mets’ top prospect, posted a 4.60 ERA with 9.8 K/9 and 2.9 BB/9 in 133 innings at the Mets’ hitter-friendly Triple-A affiliate in Las Vegas this season. Las Vegas was eliminated from the Pacific Coast League playoffs Saturday.

AL East Notes: July 2 Spending, Blue Jays, Jeter

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The American League East is about as tightly clustered as possible at this point, with just 1.5 games separating the field. With plenty of interesting situations developing in the division’s five organizations, it should (as usual) be a fascinating race to watch — both on the field and in the transactional rumor mill. Here’s the latest:

  • In a preview — or, in some respects, a roundup — of the July 2 prospect signing period, Ben Badler of Baseball America says that the American League East figures to lead the way in spending. We have already heard about the Yankees’ plans to blow well past their bonus limits on this year’s international prospect market, but Badler says that the division-rival Rays and Red Sox also appear poised to incur the maximum penalties for going beyond their pool allocations. (In an earlier report, Scout.com’s Kiley McDaniel reported upon many of the verbal agreements and rumored matches that form the basis of Badler’s piece.) If that holds true, then each of those three AL East competitors — and, potentially, the Brewers — would not only pay a 100% tax on any over-bonus spending, but would also sacrifice the right to sign any July 2 player to more than a $300K bonus next year.
  • Blue Jays GM Alex Anthopoulos spoke today about several current topics involving his club, with MLB.com’s Gregor Chisholm among those present (links to Twitter). Anthopoulos made clear that there were no active trade discussions taking place at present with rival front offices, which is surely unsurprising at this stage of the season.
  • Anthopoulos also provided new information on two situations that we touched upon last night. First, he said that injured starter Brandon Morrow was expected to avoid surgery and could return around the All-Star break, meaning that he may still contribute in 2014 and could conceivably pitch well enough to entice Toronto to pick up his 2015 club option ($10MM/$1MM buyout). Meanwhile, the GM threw cold water on the idea of permanently transitioning Brett Lawrie to second base to free playing time for Juan Francisco. Of course, that still leaves other possibilities for the Jays to keep Francisco in the fold when Adam Lind returns from injury.
  • With Yankees infielder Brendan Ryan making his way back to the club, manager Joe Girardi will face an increasingly complicated situation, writes Joel Sherman of the New York Post. Of course, Derek Jeter remains entrenched at short for the time being, but the living legend has struggled at the plate and in the field. New York GM Brian Cashman recently confirmed that Girardi has full authority to determine who plays and where they hit in the lineup. And Sherman notes that the manager has made several moves — both with respect to former catcher Jorge Posada and, more recently, involving Jeter himself — that hint he is not afraid to ruffle some feathers if necessary to win. With the division shaping up to go down to the wire, Sherman says that Girardi may need to “play[] bad cop” in dividing playing time going forward.

AL Notes: Lester, Middlebrooks, Tigers, Royals, Astros

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The retirements of Yankee icon Derek Jeter and Commissioner Bud Selig and the Red Sox's quest to repeat as World Series champions are baseball's top storylines this season, according to Nick Cafardo of the Boston Globe. The Mike Trout/Miguel Cabrera debate also makes Cafardo's list along with five other topics to monitor in 2014. Stoking the discussion, the dynamic duo both agreed to lengthy and lucrative contract extensions just one day apart this past week: six years, $144.5MM for Trout and eight years, $248MM for Cabrera. 

In other news and notes from the American League:

  • Within the same article, Cafardo opines Jon Lester better be willing to accept less from the Red Sox than the six-year, $144MM proposal the Tigers made to Max Scherzer adding negotiations with the left-hander will be a true test of how much faith the club has in its top pitching prospects.
  • Lester addressed the media today, including WEEI.com's Rob Bradford (who provides a transcript of the extension-related portion of the presser) and contrasted his situation to Scherzer's. "Every situation is different, every negotiation is different, every person is different, so until it'€™s there in front of you with a pen to sign it, or not presented to you and you have to go the other way, then like I said, we'€™ll deal with that when it comes." 
  • Contact lenses could be the key to the season for Red Sox's third baseman Will Middlebrooks, according to Brian MacPherson of the Providence Journal. An eye test this spring revealed Middlebrooks' vision had deteriorated to 20-25 in his right eye and 20-30 in his left. "For everyday life, you’d never correct it," the 25-year-old said. "But for what I do, you need to be able to see the little things. Once I put them in, I could really see the spin on the ball. I was always just reading trajectory of the ball. I was never seeing the spin."
  • Pitching and offense are reasons why the Red Sox can repeat while history (no team has sucessfully defended its World Series title since 2000) and questions up the middle are reasons why they won't, writes CSNNE.com's Sean McAdam. 
  • Tigers President/CEO/GM Dave Dombrowski told MLB Network Radio (Twitter link) he had the financial wherewithal to extend both Cabrera and Scherzer. "We had both negotiations going simultaneously," said Dombrowski. "We were trying to sign both."
  • The Royals have had mixed results with their philsophy of developing pitchers, reports Andy McCullough of the Kansas City Star. The organization believes you need 10 pitching prospects to deliver one to the Majors and that has worked in developing relievers, but only four prospects have started a game for Kansas City during GM Dayton Moore's seven-year tenure, McCullough notes.
  • The Astros have been active at the Trade Deadline the past two seasons, but that may not be the case this year, writes the Houston Chronicle's Evan Drellich. "No question. This year's different," GM Jeff Luhnow told Drellich. "This year, we have veteran players. If they play well, we're likely to keep them as opposed to move them. There’s always going to be that temptation…we’ll balance all the factors, including the fact that we do want to show significant progress."  

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