Miami Marlins Engaged With Four Groups to Sell Team
By Nick Fustor
After meeting with four groups interested in buying the team, Miami Marlins owner Jeffrey Loria has made it clear he will not own the franchise for much longer.
Miami Marlins owner Jeffrey Loria is expected to sell the team at some point this year, according to a report from the Miami Herald. The Marlins are “actively engaged” with four groups and have had discussions with two others, which include local and out of town investors.
The Herald reported that the Marlins would like to reach a deal in the coming months, with final approval from Major League Baseball coming toward the end of the year.
Loria is interested in moving on from baseball after being involved in the game as an owner since 2002. He became a part-owner of the Montreal Expos in a deal with John Henry, then-owner of the Expos, and moved on to the Marlins when Henry joined the Boston Red Sox.
MLB is aware of the groups looking to buy the team, though no official names have been leaked. Last month, it was reported that Joshua Kushner, brother-in-law of Ivanka Trump, was interested in buying the team. It was also reported that Loria had a “handshake agreement” to sell the team for $1.6 billion, although nothing official has since surfaced from that report.
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Marlins fans have much maligned Loria since he tore apart most of the team’s roster that won the World Series in 2003. The team hasn’t made the playoffs since, marking the second-longest playoff drought in MLB after the Mariners (2001).
The Herald noted that the new ownership group isn’t guaranteed to dramatically increase payroll, however. The team’s payroll will likely depend on a renegotiation of the team’s TV deal with FOX, which is set to expire in 2020. The Marlins earn the least local revenue in all of MLB.
Regardless of which group purchases the team, the Marlins have a solid young core in their lineup and pitching staff. With marketable names like Giancarlo Stanton and Christian Yelich, Miami has enough talent to reconnect its fan base. And with the team’s stadium, which opened in 2012, the investment looks even better for a potential buyer.
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The Marlins finished 79-82 last season, third in the National League East.