Just when it seemed all the momentum was lining up toward a sale of the Marlins to a group led by Derek Jeter and Jeb Bush, things have taken another turn. The alternative bidding group, led by Tagg Romney and also including Tom Glavine, has upped its offer to exceed the $1.3B sale valuation offered by the Jeter/Bush team, according to Dave Hyde of the Sun Sentinel.
Confirming the general situation, commissioner Rob Manfred told the Sun Sentinel that there are “two very strong groups” still in play. While he obviously did not tip his hand in any way, it’s certainly possible the league’s preferences could tip the scales here. Importantly, at present, we know nothing about the deep-pocketed, background investors who’d participate in either ownership group.
To be sure, the competing offers could shift the calculus for Loria and the league, though it seems they aren’t drastically different. While the new price would beat the $1.3B offer of Jeter and Bush, sources tell Barry Jackson and Douglas Hanks of the Miami Herald that it is still shy of $1.4B. With both the league and the team looking over the competing bids, a decision is said to be likely to come soon.
The report also provides some details on the earlier agreement struck between Loria and the Jeter/Bush group, which some characterized as a sale agreement but really falls well shy of that. In fact, it’s just a “handshake deal” that was to allow that group “first opportunity” to get the club if financing was found and a deal was signed quickly. But it did not provide exclusivity, per the report; whether it was an agreement that bound the parties in any manner at all isn’t even clear.
Since there’s still no sale agreement in place — and, according to the Herald, the financing has still yet to be proven — it’s all still an open situation. Indeed, Jeter and Bush are now said to be working to bring in Wayne Rothbaum — who had previously led a third bidding effort — to infuse cash needed for their efforts, per Scott Soshnick of Bloomberg (via Twitter).
Hopefully it ends soon
This is getting boring.
Just choose one already. Its bad enough loria is going to cash out like a bandit(can’t hate it though, hit on a good investment).
Here’s a better idea Jay. Let one buy the marlins and the other buy the cash and brain poor Mets
ugh please end this soon enough so that a new team can manage this years trade deadline
They had better have a ton of money, because that @ $ $ ugly stadium needs a complete renovation.
One of the most beautiful cities in the United States, and they build a stadium that looks like a flea market.
Can one of them buy the Braves? Liberty Media doesn’t need a sports team.
Tagg Romney and also including Tom Glavine, has upped its offer to exceed the $1.3B sale valuation offered by the Jeter/Bush team
Now, it’s getting exciting.
However, who is going to pay off the Muni Bonds, so that the Taxpayers get their money back????!!!!???
Bottomline is what are these people fighting over exactly???
I don’t think taxpayers get their money back in that stadium deal?
I think it was tax funded, no strings attached and no payback required.
No, go read the Bush-Jeter post from earlier today.
Jeb!
Is Tagg Romney related to Mitt Romney? Or Batt Romney? Or Slyde Romney?
Yup. Slyde and Kipp Romney’s cousin.
Shows how much for a “handshake” means to Loria.
If Jeter and co win the bid, Jeter can still say to Glavine, “not much has changed, eh Tom?” I’m still raking off you, even in retirement.
We all know the Rothschilds and the Illuminati will end up buying the Marlins, oh you wait.