The sale of the Marlins to team President Don Smiley
"is in question" because Owner Wayne Huizenga "is reluctant
to keep a substantial share of the franchise," according to
Barry Jackson of the MIAMI HERALD. Sources said that Smiley
has raised less than $140M of Huizenga's $169M asking price.
On Monday, MLB owners cancelled a vote on the sale that had
been scheduled for Wednesday. Sources said that Huizenga
"doesn't want to lower the asking price or retain a $30
million stake to help Smiley complete the purchase."
Huizenga had planned to retain a share in the team of around
$5M. If he kept a $30M interest, Huizenga would still "be
majority owner, and Huizenga apparently believes that would
defeat the purpose of selling the club to Smiley." Neither
Smiley nor Huizenga would comment, but Jackson writes that
if Smiley's deal "collapses, Huizenga must decide how soon
he would consider offers from buyers who might want to move
the team out of South Florida" (MIAMI HERALD, 6/9). In Fort
Lauderdale, Alan Snel reports that Smiley hopes to have his
ownership group ready by July 1 (SUN-SENTINEL, 6/9).
HUIZENGA'S LATEST VENTURE: BLOOMBERG reports that FL-
based NationsRent Inc., an equipment-rental consolidator
backed by Huizenga, filed yesterday with the SEC for an IPO
worth as much as $100M (BLOOMBERG/TAMPA TRIBUNE, 6/9).
