Fansided

Derek Jeter, Jeb Bush team up to buy Miami Marlins

By Keith Scheessele

Sep 26, 2015; Ann Arbor, MI, USA; New York Yankees former player Derek Jeter on the sideline prior to the game between the Michigan Wolverines and the Brigham Young Cougars at Michigan Stadium. Mandatory Credit: Rick Osentoski-USA TODAY Sports
Sep 26, 2015; Ann Arbor, MI, USA; New York Yankees former player Derek Jeter on the sideline prior to the game between the Michigan Wolverines and the Brigham Young Cougars at Michigan Stadium. Mandatory Credit: Rick Osentoski-USA TODAY Sports /
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It’s unknown how much the Derek Jeter, Jeb Bush led group paid for the Miami Marlins.

Be advised Miami baseball fans, the Marlins will have new ownership, and the buying group includes names you’re familiar with. The group is led by former New York Yankees shortstop Derek Jeter and former Florida governor and presidential candidate Jeb Bush.

What we don’t know yet, is how much the group paid for the Marlins. The contract for the transaction has not been signed. The sale price of the team was not immediately revealed.

The Marlins are presently owned by 76-year-old New York based art dealer Jeffrey Loria, who has been involved in baseball dating back to 1989 when he purchased the Oklahoma City 89ers. At the time, the 89ers were the Triple-A affiliate of the Texas Rangers.

After a failed attempt to buy the Baltimore Orioles in 1994, Loria finally bought into the Major League game with a 24 percent stake of the Montreal Expos in 1999. Eventually he would own 93 percent of the team.

Three years later Loria sold the Expos for $120 million and in 2003 bought the Marlins for $158.5 million. In his first season as owner, his team won the World Series over Jeter’s Yankees. Today, Forbes Magazine lists the team’s valuation at $940 million, 25th among all Major League Baseball clubs.

Just two months ago, a potential sale of the team was surrounded in controversy. Loria allegedly had a “handshake agreement” to sell the team to Jared Kushner, son-in-law of President Donald Trump. That deal was rumored to have been worth $1.6 billion.

Other bidders for the Marlins included Tagg Romney, the co-founder of Solamere Capital and Quogue Capital LLC founder Wayne Rothbaum. Romney’s group includes Hall of Fame pitcher Tom Glavine.

Derek Jeter retired from Major League Baseball in 2014. He was a 14-time All-Star and the member of five World Series championship clubs. In 2014 he also explored the possibility of purchasing the Buffalo Bills of the NFL.

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