Miami Marlins owner Jeffrey Loria has reached an agreement to sell the team to a group of investors that includes New York Yankees legend Derek Jeter and former Florida Governor Jeb Bush, according to a report from the Miami Herald on Tuesday afternoon. The price paid for the team is also still unknown, according to the report.
There still is a long way to go in the process. Bloomberg cited a person with knowledge of the deal who wished to remain anonymous because the contract has not yet been signed.
Jeter and Bush reportedly outbid a group that included Tom Glavine, among others, to land the Marlins.
Yankees manager Joe Girardi had said the retired shortstop, who spent his entire 20-year career in pinstripes, would "always be a Yankee" to him, regardless of what team Jeter eventually purchased.
For Jeter, 42, the purchase of the Marlins would represent the culmination of a process began well before his playing days with the Yankees were over. Earlier, a report suggested that the Jeter/Bush group was the only possible bidder left due to a lack of interest. After going 70-91 in 1988 with 1.58 million attendees in 1988, Bush and his team helped lead them to an 83-79 record in 1989 with attendance surpassing 2 million for the first time in franchise history.
Some in baseball are skeptical that the Jeter/Bush group will raise the necessary money - the agreed-upon price, minus the Marlins' debt that the new ownership would assume.
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The team is owned by Jeffrey Loria.
A source told the Herald that Bush would be the "control person", and would have ultimate control of the franchise.
"I've made it very clear of ownership aspirations at some point", Jeter said in December.
Bush is attempting to follow in the footsteps of his eldest brother, former President George W. Bush. They won a World Series the next year, and in 2012 opened a $634 million ballpark, with some 80% of financing coming from the city of Miami and Miami-Dade County.
The Marlins are off to an 10-8 start this season and in second place in the National League East.
Soshnick reported April 19 that bids for the Marlins were due the previous week and ranged from "between $1.2 billion and $1.3 billion".