A group led by New York Yankees legend Derek Jeter and former Florida governor Jeb Bush has reportedly won the auction to buy the Miami Marlins, as first reported by Barry Jackson of the Miami Herald.
Jackson added that the asking price for the MLB franchise was $1.3 billion and the deal is currently pending league approval and contract details.
A source also disclosed to him that Bush would be the controlling owner within the group that contains over five investors. Jeter will have an active role within the organization.
They apparently had to scramble to win this auction. Mike Ozanian of Forbes reported earlier on Tuesday that Jeter and Bush’s group had enough money to put down “about $200 million of equity,” and were “running around looking to raise money.”
Jeter and Bush originally were attempting to buy the Marlins on their own. It wasn’t until April 19, as first reported by Douglas Hanks of the Miami Herald, that the two merged their efforts.
Their stiffest competition for the team came in the form of New York financier and manager of Quogue Capital, Wayne Rothbaum.
The Marlins were almost sold by current owner Jeffrey Loria to the Kushner family for $1.6 billion in February, but the deal fell through after Loria was rumored to become President Donald Trump’s ambassador to France, according to the Associated Press.
It left the door open for Jeter, who has made his desire of owning a MLB franchise clear, to make a run at the team.
Jeter called a 20-year playing career with the Yankees quits in 2014 and has since mounted a charge at owning a professional baseball franchise.
In February of 2015, he told Michael McCarthy of the Sporting News that purchasing a MLB team was the “ultimate goal.”
Now with that goal within his reach, Jeter has a chance to lead a Marlins franchise that once defeated his Yankees in the 2003 World Series.
Miami has not made the postseason since then but has a core of young stars like Giancarlo Stanton, Christian Yelich and Marcell Ozuna to build around.