Former Florida Governor Jeb Bush and former New York Yankee Derek Jeter have won the right to purchase the Miami Marlins, with a $1.3 billion bid.
The deal represents a profitable return on investment for current Marlins Owner Jeffrey Loria. The New York art dealer bought the team for $158 million, and despite being valued at only $940 million Loria gets a deal for $1.3 billion, over eight times what he originally paid for the team.
While the deal has been widely reported, as of this writing it has not been signed. The deal cannot become official without approval from Major League Baseball. However, Derek Jeter is one of the greatest Yankees of all time, and Bush is a former governor with a brother that is not only a former U.S. president, but also happens to be a former MLB owner, so the approval shouldn’t take too long.
According to Bloomberg, parties who were out-bid for the Marlins included, “…Quogue Capital LLC founder Wayne Rothbaum, and Solamere Capital co-founder Tagg Romney, whose group included former All-Star pitcher Tom Glavine.”
Follow Dylan Gwinn on Twitter: @themightygwinn
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