There are currently three groups in the hunt for the franchise that owner Jeffrey Loria is hoping to sell over the next several weeks.
The groups bidding to purchase the Miami Marlins are quickly adding some star power as the sales process nears its final stages.
According to the New York Post, retired New York Yankees star Derek Jeter is back in the mix — this time with former NBA great Michael Jordan among a group of investors. Rapper Pitbull, who performed prior to the Home Run Derby in Miami, also is now part of another group, according to the Miami Herald.
There are currently three groups in the hunt to purchase the franchise from owner Jeffrey Loria: Jeter’s contingent; one led by New York-based Wayne Rothbaum that counts former Florida Governor Jeb Bush (and now Pitbull) among its investors; and another headed by Miami business owner Jorge Mas.
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« We have three viable bidding groups that are essentially in the same place in terms of price, » MLB Commissioner Rob Manfred told reporters assembled for Tuesday night’s All-Star Game at Marlins Park.
Jeter’s initial bid to purchase the team — which had included Bush — fell apart after questions surfaced about whether his group had the financial backing to run the franchise. The New York Post reported on Tuesday that the new effort includes Jordan, but, more importantly, money manager Bruce Sherman.
Loria is seeking between $1.1-$1.3 billion in an all-cash deal with hopes the deal can be completed by the All-Star break. Any sale would need approval by MLB ownership.
The Marlins are projected to lose $62 million this season, according to investors who have viewed the Marlins’ books. On top of the annual losses, the team also has about $500 million in debt with more than $400 million committed to future salaries.
The team also has the lowest-paying TV contract ($20 million per year) that runs through the 2020 season.
Loria has been part of MLB ownership since 1999, owning a minority stake in the Montreal Expos at the time before he acquired a controlling interest. He purchased the Marlins for $158.5 million in 2002 in an ownership swap that led to the Expos relocation to Washington to become the Nationals.
USA TODAY Sports’ Bob Nightengale contributed to this report.
