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Baseball Is Awash In Money Newsbeat

Friday, April 28, 2017

Fox Business: Latest On Jeb & Jeter Marlins Bid

Still some hurdles to clear:

Making the cash raise easier for the duo is that they have the support of just about every owner in baseball who will see the value of their team soar if they are successful, according to people with knowledge of the matter. Indeed, if the $1.34 billion deal is completed, baseball’s most valuable franchise, the New York Yankees, would be valued at around $5 billion, a 56 percent increase from its estimated value of about $3.2 billion, these same people say.
.  .  .
Jeter and Bush are expected to invest no more than $200 million combined, which means they will have to raise between $800 million and $900 million in cash to complete the purchase under the guidelines of major league commissioner Rob Manfred, who won’t approve a deal with a high level of debt.

The task will be a difficult one if Jeter and Bush want to remain as the principal owners of the team—and not give up operating control to other investors—given how much money they will need to raise, baseball executives tell FOX Business.

“How many people are willing simply to write a $100 million check and not have a say in running the team?” said one senior baseball executive who spoke on the condition of anonymity. “We all want them to succeed because Jeb and Jeter would be great for baseball, but it won’t be easy.”

You’d think it’d be an honor just to be asked to write a $100M check to Derek Jeter.


Thursday, April 06, 2017

Derek Jeter, Jeb Bush Among Billion-Dollar Marlins Bidders

How much is an outfield bar and associated businesses worth?

At least three possible bidders have emerged to purchase the Miami Marlins baseball team including one representing the country’s most prominent political family, and one representing a future Hall of Famer, the FOX Business Network has learned.

Former New York Yankees star shortstop Derek Jeter has expressed interest in bidding for the team, according to people with direct knowledge of the matter. He is being represented in talks with Marlins president David Samson by veteran Wall Street executive and former Morgan Stanley (MS) brokerage chief Gregory Fleming, who now runs his own investment banking boutique, the people say.

Another major contender is a group headed by former Florida Governor and one-time GOP presidential candidate Jeb Bush, who is teaming up with Citigroup (C) to finance a possible official bid, these people add.

 


 

 

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