It appears that the Miami Marlins have a “handshake agreement” in place to sell the team for $1.6 billion, according to Forbes. Owner Jeffrey Loria paid $158 million for the team back in 2002 just before winning the franchise’s second championship in 2003.
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At this time, the report only says that the potential buyer is a real estate developer based in New York City. They also have their net worth tied up in real estate and would not have the cash to buy the team, creating a possible issue when being vetted by the MLB.
There have been recent rumors swirling that Loria has been looking to sell the Marlins. As the team’s owner, he has been a heavily disliked figure among Marlins fans due to his unwillingness to pay top players, keeping the team’s payroll at one of the lowest in the league, and eagerness to pull the trigger on conducting team-wide fire sales.
Of course, some of that has changed over the last five years with the team’s move into their brand new stadium that cost taxpayers $639 million. They also signed Giancarlo Stanton, one of the franchise’s best talents ever to come through Miami, to a 13 year, $325 million contract.
Regardless, this should come as very good news to most Marlins fans as the start of a new era for this team. At the very least, this gives the franchise some new life by getting a new owner that might have some interest in this team having any sort of success.