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Franchise Sale 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.


Tuesday, April 25, 2017

Marlins expecting to finalize $1.3B deal to sell team to Jeb Bush, Derek Jeter group

Miami Marlins owner Jeffrey Loria reached an agreement in principle to sell the team to a group led by former Florida Governor Jeb Bush and including former New York Yankees star Derek Jeter, pending Major League Baseball approval and other details to be worked out in the drawing up and execution of a contract, according to an MLB source.

According to the source, Bush’s group has agreed to pay $1.3 billion for the team.

A source said the Marlins and Bush group are very optimistic a deal will be finalized, but the process could take months to conclude.

Bush plans to be the Marlins’ “control person,” the individual who would have ultimate control over franchise decisions, according to the source.

Jeter, the former All-Star player who lives in Tampa, plans to take an active role with the franchise.

Bush’s group includes at least five investors, and it’s unclear which of those investors has the most money invested in the bid.

RoyalsRetro (AG#1F) Posted: April 25, 2017 at 03:24 PM | 132 comment(s)
  Beats: derek jeter, franchise sale, jeb bush, jeffrey loria, marlins

Thursday, February 09, 2017

Miami Marlins Claim To Have $1.6 Billion Handshake Agreement For Team

Two sources who spoke on the condition of anonymity said that Miami Marlins president David Samson has said that there is a $1.6 billion “handshake agreement” for the MLB team. Jeffrey Loria paid $158 million for the baseball team in 2002.
...
My sources would not say who the $1.6 billion handshake agreement was with other than he is a real estate developer based in New York City. The problem, according to these sources, is the potential buyer is not liquid, meaning he does not have the cash to buy the Marlins because his net worth is tied up in real estate. Thus, for the real estate developer to purchase the Marlins would likely require more debt than MLB would be comfortable with.

Jim Furtado Posted: February 09, 2017 at 01:54 PM | 11 comment(s)
  Beats: franchise sale, marlins

 

 

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