New Ownership on the Horizon for the Miami Marlins
A consortium headed by Jeb Bush and Derek Jeter are in negotiations to buy the Miami Marlins after winning the bid on Tuesday. Jeffery Loria has owned the team since 2003, when he purchased the team for $158 million, and the expense of the new stadium built with public money has not paid off. Supporters have been frustrated by Loria’s inability to produce a quality baseball squad.
Report: Miami Marlins to be Sold to Bush/Jeter Group
It is still very early in the process, and no terms are currently public. But, as Barry Jackson of the Miami Herald tweeted out on April 25, 2017, things are progressing rapidly.
Can confirm, per MLB source, that Marlins are moving forward with the Jeb Bush/Jeter group and are optimistic deal will be reached for sale
New ownership should help the club clean house in the front office. This will allow for the signing of better players, which in turn will make a better baseball product.
Bob Nightengale of USA today further tweeted:
The #Marlins have agreement in principal for $1.3 billion: Jeb Bush will be control person,Derek Jeter w active role, reports Miami Herald
As a former governor, Bush should have the experience needed to run a baseball team. Jeter brings a brilliant baseball mind, and the name value to sign young players. If terms are reached with Loria, the owners should approve the sale. Loria has not been the best owner in baseball, and other owners should want the stadium to sell out for their share of the gate revenue while on the road.
Jeb is not the first Bush to attempt to make a foray into ownership in Major League Baseball. His older brother, former President George W. Bush, owned the Rangers from 1989-1994. The Jeb/Jeter group is reportedly comprised of more than five investors, with Jeb at the helm. The sale still has to be approved by at least 75% of MLB owners.