The Marlins, former MLBer Derek Jeter and MLB Commissioner Rob Manfred met in N.Y. on Thursday to "discuss the Marlins sale, and the sides emerged with the understanding that Jeter is short of the money he needs to buy the team but will keep working at it," according to a source cited by Barry Jackson of the MIAMI HERALD. Jeter, Marlins President David Samson and Manfred were "joined in the meeting" by former Morgan Stanley Wealth Management President Greg Fleming, who is "assisting Jeter in his bid to buy the Marlins and has some of his own money invested." Though Jeter "hasn’t raised all the money to complete the transaction, one source said he’s closer than ever before." Marlins Owner Jeffrey Loria has "great affection for Jeter and would be very receptive to selling him the team if Jeter can get his finances in order, but also hasn’t ruled out selling the team" to a group led by Tagg Romney. One source said that the reason Romney "didn't get a Manhattan meeting," but Jeter did, is that Jeter is "further along in the process." The Marlins have been "working on purchase agreements with three parties -- Jeter, Romney and the unidentified mystery third bidder." That third bidder is not former Yankees Managing General Partner Joe Molloy, who has been "trying for months to put together a group to buy the team." It is also not Dean Metropoulos, the Palm Beach billionaire who was "previously speculated as a potential bidder" (MIAMIHERALD.com, 6/22).
FISHING FOR MORE: FANRAG SPORTS' Jon Heyman noted Jeter is "still said to be trying to raise money to meet or come closer" to the Marlins’ $1.3B asking price, but word is a Miami billionaire has "entered the picture, raising the possibility that someone other than the two lead groups" -- Jeter’s or Romney's -- will win the team. Romney and Baseball HOFer Tom Glavine's group, which "seems well-financed, is said not to believe" that $1.3B is the "fair price for the team, while Jeter's group is thought to be hundreds of millions of dollars short of the figure." Jeter "lost some spending power when former Florida Gov. Jeb Bush dropped out, but it isn't known how much" (FANRAGSPORTS.com, 6/22). In N.Y., Josh Kosman notes as the sale process has progressed, the financial prospects for the Marlins have "gotten worse." Marlins attendance "has fallen" by about 5% compared with '16, and they are "losing on the field." Sources said that Marlins losses next year are "now projected to reach" about $70M compared with $40M this season. Loria, "unable to attract a bid" at his already reduced $1.3B asking price, is "likely facing a tough choice -- cut the price a second time or take his money-losing team off the block" (N.Y. POST, 6/23).
