Former Florida Governor and one-time candidate for president Jeb Bush has reportedly taken a pass on buying the Miami Marlin baseball team, according to reports.
In April it was reported that Gov. Bush had joined a consortium of investors, including former New York Yankee Derek Jeter, looking to buy the baseball team by offering a $1.3 billion bid.
The deal was said to represent a profitable return on investment for current Marlins owner Jeffrey Loria who bought the team for $158 million. Despite the team being valued at only $940 million, the deal for $1.3 billion would have returned over eight times what Loria originally paid for the team.
But, according to reports, Gov. Bush has now dropped out of the group seeking to make the deal, the Associated Press reported.
The source reported to the AP on the condition of anonymity because the deal is still in the midst of negotiations. The Marlins have also not made any public statements on the deal.
“Gov. Bush has great respect for Derek Jeter, and Derek remains a great friend,” the inside source told the AP. “And he’s looking forward to a great rest of the season for the Marlins.”
It had been reported by baseball Commissioner Rob Manfred that the Bush group’s offer for the team was roughly on par with an offer being made by former GOP nominee Mitt Romney’s son, Tagg Romney.
With the group fronted by Gov. Bush dropping out of the bidding, that leaves only the Romney offer on the table.
The Marlins are struggling to stay out of last place in the NL East this year. They haven’t been in the playoffs since 2003.
Follow Warner Todd Huston on Twitter @warnerthuston or email the author at igcolonel@hotmail.com.
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