As the 2017 Major League Baseball season gets underway, one of its worst franchises currently is up for sale.
Miami Marlins owner Jeffrey Loria has shown interest in selling the team for some time, and according to FOX Business’ Charlie Gasparino and Brian Schwartz, citing sources, a surefire Hall of Famer reportedly is interested in purchasing the franchise.
Former New York Yankees shortstop Derek Jeter has expressed interest in bidding on the team, according to Gasparino and Schwartz, and veteran Wall Street executive Gregory Flemming is representing Jeter during the bidding.
Jeter, however, isn’t the only heavy-hitter eyeing the Marlins, as former GOP presidential candidate Jeb Bush reportedly is teaming up with Citigroup to bid on the franchise.
The situation with the Marlins is fluid and the franchise reportedly could be sold as early as May.
Loria purchased the Marlins in 2002 for $158 million and should make a significant return on his investment due to the scarcity of MLB teams.
Schwartz and Gasparino reported Wednesday that the bidding for the Marlins is expected to range between $800 million and $1.6 billion.
Any sale of a baseball team must be approved by MLB commissioner Rob Manfred, who reportedly is against selling a team to a bidder that will need to borrow a significant amount of money to finalize the sale.
The Marlins won the 2003 World Series under Loria’s ownership, but have floundered near the bottom of the league for the past decade. They finished in third place in the National League East division in 2016.
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