Despite still being short of Wayne Huizenga's $165M
asking price, Marlins President Don Smiley "was close to
finalizing his purchase of the club Tuesday," according to
Barry Jackson of the MIAMI HERALD. Although Huizenga has
not yet made a written commitment to Smiley, negotiations
"might conclude as early as this week." Jackson reports
that two sources said that Huizenga "badly wants to sell the
team to his longtime friend." The sources said that even if
Smiley cannot secure additional capital in the next two
days, Huizenga would allow him to continue seeking investors
for another year. Smiley "secured at least one new
undisclosed investor Tuesday." Jackson notes that one
reason why Huizenga would sell to Smiley despite a "better
offer" from agent Joe Cubas could be that, "by keeping his
hands in the Marlins, Huizenga would be able to control the
flow of profits between the Marlins and Huizenga-owned
companies such as Pro Player Stadium" (Barry Jackson, MIAMI
HERALD, 7/22). In Miami, columnist Greg Cote writes that
Cubas' bid is worth a look, but the "fact is Huizenga might
make more money if he sells to Smiley, who in turns sells
the team out of state, than if he sells to Cubas. ... The
whole thing smells" (Greg Cote, MIAMI HERALD, 7/22).
