MIAMI (CBSNewYork) — Derek Jeter is reportedly on the verge of becoming a big-league owner.
According to multiple reports, a group led by the Yankees great and former Florida Gov. Jeb Bush has submitted the highest bid to purchase the Miami Marlins. According to the Miami Herald, Jeter and Bush’s group has agreed to pay $1.3 billion for the team.
The sale, which has been agreed to in principle by current Marlins owner Jeffrey Loria, cannot become official until 75 percent of Major League Baseball owners vote to approve it. The process could take months.
Bush is expected to be the “control person” who has ultimate control over the franchise, while Jeter plans to have an active role, the Herald reported. There are at least five investors in their group.
Jeter and Bush separately began pursuit of the Marlins before recently teaming up in an effort to strengthen their chances. Other bidders were Quogue Capital founder Wayne Rothbaum and Solamere Capital co-founder Tagg Romney, the son of former Republican presidential nominee Mitt Romney. Romney’s group also included former Braves and Mets pitcher Tom Glavine.
Loria, who has owned the Marlins since 2002, began expressing interest in selling the team late last year. In February, Joshua Kushner, the younger brother of President Donald Trump’s son-in-law and adviser, Jared Kushner, had a preliminary agreement to buy the Marlins for about $1.6 billion, according to reports, but the deal fell through.
Earlier this month, Forbes valued the Marlins at $940 million, which ranks 25th of the 30 teams in Major League Baseball. Loria bought the team in 2002 for $158 million.
In an interview with CNBC last May, Jeter said he not only wanted to someday own a major league team, but he also wants to help grow the sport’s popularity.
“I think some of the other sports are sort of the sexy sports,” said Jeter. “I think kids nowadays, they look at players playing in college and the next year they’re in the NFL or the NBA,” he said. “Baseball, you sort of get lost because you have to play in the minor leagues for a little bit. Kids in this generation are into instant gratification.”
According to Baseball-Reference.com, Jeter, 42, earned more than $265 million over his 20-year big-league career. Just before retiring, he founded The Players’ Tribune, a website featuring content written by professional athletes.
Jeter lives in Tampa, Florida, with his wife, supermodel Hannah Davis, who is expecting the couple’s first child. Bush, who ran for president in in 2016, lives in the Miami suburb of Coral Gables.
The Marlins, who are managed by Jeter’s former teammate and coach, Don Mattingly, are off to an 10-8 start this season and in second place in the National League East.