Latest On Marlins’ Sale Efforts

Posted: June 24, 2017 in Uncategorized
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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.

from MLB Trade Rumors http://ift.tt/2t785tA
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