Former Florida Gov. Jeb Bush is "still working to raise" the cash needed to cover the $1.3B asking price for the Marlins, an amount "agreed to by both" current Owner Jeffrey Loria and a Bush-led investment group, according to sources cited by Barry Jackson of the MIAMI HERALD. A source in contact with MLB Commissioner Rob Manfred's office said that Bush "continues to look for investors." In addition, a "prominent South Florida resident" said that he was "approached by a Bush associate this week asking if he would invest in Bush's ownership group." A source said that Bush "has assured the Marlins" that he and former MLBer Derek Jeter "will have the investors to finance the purchase." Both are "investing an unknown amount of their own money, but not nearly enough on their own to reach the asking price." An MLB official said that the Marlins are "under the impression that Bush and Jeter -- who both have lots of deep-pocketed friends and associates -- will be able to finance the deal." Otherwise, the team "wouldn't be moving ahead with them." A source said that the Bush/Jeter camp is "expected to meet with high-ranking MLB officials in the coming days to discuss financing and investors." MLB has "rules regarding financing of sales," with debt exceeding 40% "generally not permitted for purchases of franchises." It is expected that the group will have $850M or "more in equity to finance the sale" (MIAMI HERALD, 4/27).
BUSINESS AS USUAL? In Miami, Clark Spencer writes as long as Loria "remains in charge, the Marlins can continue to operate as they would normally, but only up to a point." If they are in "contention at the Aug. 1 trade deadline, they'll still be able to make deals." However, sources said that "any trades, signings or contract extensions involving significant sums of money -- once a prospective buyer is in place -- would require approval from the commissioner's office." The buyer "would also be consulted." Contract extension discussions also "would likely not take place during a pending sale" (MIAMI HERALD, 4/27).
OH CAPTAIN, MY CAPTAIN: ESPN's Israel Gutierrez said Jeter owning the team would "bring some legitimacy" to the Marlins. ESPN's Jackie MacMullan said there is "something about" Jeter, as he is "one of those handful of people that everything he touches turns to gold." Meanwhile, ESPN's J.A. Adande said Jeter becoming an owner can "provide a good example to athletes that the playing field should not be the endgame, that you can have a career" ("Around The Horn," ESPN, 4/26).
THE NEED FOR NEW BLOOD: In West Palm Beach, Dave George writes, "Bottom line, as long as Loria is the owner, no one is ever going to fall in love with the Marlins again." Some fans "will always love baseball, sure, and some are crazy about individual players, but going all in with the organization's leadership? All things considered, that's asking too much." Once "some new ownership group gets a chance this summer or sometime a little farther down the road, it will be a different ask" (PALM BEACH POST, 4/27).
