A group led by Tagg Romney, the son of former GOP presidential candidate Mitt Romney, has "submitted a bid slightly higher" than the Jeb Bush-Derek Jeter offer of $1.3B to buy the Marlins, and the team and MLB now are "evaluating both offers," according to a source cited in a front-page piece by Jackson & Hanks of the MIAMI HERALD. The source said that MLB is in the process of "vetting numerous investors in both groups and a decision is expected shortly." The Marlins will "make the decision on the new owner but any transaction must be approved by MLB." Sources said that Marlins Owner Jeffrey Loria recently "struck a non-binding agreement -- a handshake deal" -- that Bush would be "given first opportunity to buy the team if he was able to provide proof of financing and quickly sign a purchase agreement." The Marlins "fully expected that Bush would be able to close the deal." But Bush, who "submitted a list of investors to MLB officials during a meeting Monday, has neither signed a purchase agreement nor been able to definitively prove that he has the money to fund the deal." A source said that because Bush does not have a signed agreement and "was given no exclusive negotiating window with Loria, that has left an opening" for the Romney group, which includes Baseball HOFer Tom Glavine. Meanwhile, Miami-Dade County officials "confirmed that local government would get a share of the profits of a sale if it is completed in the next 11 months." Loria must share 5% of any sale profits with Miami-Dade and the city of Miami "if he closes a deal by April" (MIAMI HERALD, 5/3).
DYNAMIC DUO: Bush said that he was "confident that he and his fellow investors" would be able to "complete a deal to buy the team." Bush: "Given the interest that we have inside of Miami, and among people who are potential limited partners, I’m really excited about it" (N.Y. TIMES, 5/3). He added that he "expects a decision regarding the sale 'pretty soon'" (AP, 5/2). In Ft. Lauderdale, Tim Healey notes Bush yesterday "shed light" on what the Bush-Jeter ownership group might look like. Jeter would "run the day-to-day baseball operations," while Bush would be "heavily involved on the business side." Bush also expressed "interest in expanding the team's reach in Latin America." He said that he considers the region an "untapped market for baseball" (South Florida SUN-SENTINEL, 5/2). Jeter declined to talk about the bid during an appearance on CNBC yesterday, saying, "There's absolutely nothing to add to that. The media ran with the story, but there's nothing to add" ("Squawk Alley," CNBC, 5/2).
IT CAN'T GET WORSE: In Ft. Lauderdale, Dave Hyde writes, "Who knows the deal Romney and Bush have laid out for their respective investors? Who knows what kind of inner negotiations are happening for these two groups?" The hope is that MLB Commissioner Rob Manfred and the voting owners "pick the group that can do South Florida right." Hyde: "It has to do better than last time." Regardless of which group lands the Marlins, the sale of the Marlins will give fans a reason to "celebrate simply because Jeffrey Loria won’t be the owner" (South Florida SUN-SENTINEL, 5/3).
