Jeb Bush has "dropped his pursuit" of purchasing the Marlins, but the team has been informed that Derek Jeter "plans to continue attempts to buy the team without Bush," according to sources cited in a front-page piece by Jackson & Hanks of the MIAMI HERALD. The two sources were described as being "close to the negotiations." Another source said that an issue had "arisen regarding whether Bush could be the group’s 'control person'" while having "so little of his own money invested in the deal." A source said that Bush was "investing less than" $20M of his own money toward the $1.3B sales price. The source "would not go as far as to say MLB would not allow Bush to be the control person under those circumstances." But it said that it had "become a problematic issue in recent days." A source said that Jeter "now would be the group’s 'control' person, putting him in charge of all franchise decisions if he succeeds in buying the team." A source close to Bush said that he "knew of no friction between Bush and Jeter but was aware that Jeter had interest in being the 'control person,' a title Bush had wanted." The Bush/Jeter bid is being financed "largely through investors whose identities have been disclosed" to MLB but not publicly. A source said that the Marlins were "led to believe by the Jeter group that they still should have the financial wherewithal to buy the team." But neither the Jeter group nor a competing group led by Tagg Romney has "provided definitive evidence that it has the money to complete the deal because partnership agreements have not yet been executed." It is "unclear if the Jeter group will lose any of its investors with Bush dropping out" (MIAMI HERALD, 5/31).
CHANGE IN DIRECTION: Bush last month said that he was "optimistic he could close the deal." But one of the people confirming Bush's withdrawal said that he "didn't put up enough of his own money to have the controlling interest" (AP, 5/30). In Ft. Lauderdale, Craig Davis notes the 64-year-old Bush "lives in Coral Gables," and his bid with Jeter "had the support of Miami-Dade County officials" (South Florida SUN-SENTINEL, 5/31).
HOMETOWN HERO: In N.Y., Kosman & Davidoff cite a source as saying that YES Network commentator Al Leiter "has joined" the Romney-led bidding team that is the "only other group still pursuing the Marlins." Leiter was a member of the Marlins '97 World Series champion team and "currently provides commentary for some of the Marlins broadcasts and MLB Network." The source said that the Romney group, which also includes Baseball HOFer Tom Glavine and former D-backs GM Dave Stewart, is "still trying to find the money needed to buy the team but as of a week ago was roughly" $400M short (N.Y. POST, 5/31).
