Jeb Bush, Derek Jeter Buying Baseball Team: Report

Their group has reportedly won auction for Miami Marlins with $1.3B bid
By Michael Harthorne,  Newser Staff
Posted Apr 25, 2017 5:35 PM CDT
Jeb Bush, Derek Jeter Buying Baseball Team: Report
Former presidential candidate Jeb Bush is said to be part of a group, along with Derek Jeter, that has agreed to purchase the Miami Marlins for $1.3 billion.   (AP Photo/Matt Rourke)

If multiple reports are to be believed, Jeb Bush will finally be following in his brother's footsteps—as the owner of a professional baseball team. The presidential also-ran is said to be part of a group—along with former New York Yankee Derek Jeter—that will be purchasing the Miami Marlins for $1.3 billion, Bloomberg reports. Nothing is official—an anonymous source says the sale contract hasn't been signed yet—but the Miami Herald confirmed the report. Bush and Jeter, as well as at least three other investors, are said to have outbid multiple other groups, including one led by Tagg Romney and former ballplayer Tom Glavine. The Kushner family had also reportedly been close to a deal.

Bush, who tried and failed to buy the Marlins three years ago, will reportedly be the "control person" in charge of franchise decisions for the Marlins. The deal would need MLB approval and could still take months to finalize. The Marlins are owned by Jeffrey Loria, who paid $158 million for the team in 2002. Despite losing money and having some of the worst attendance in the league, the Marlins are currently valued at $940 million. If the reported $1.3 billion purchase price is accurate, it would be "one of the most lucrative franchise flips" ever, Deadspin reports. Loria is apparently selling the Marlins in order to get his estate in order—and also because he's tired of the team's constant losing and the criticism that has brought on him. (More Jeb Bush stories.)

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