Nobody should have expected the sale of anything involving Jeffery Loria to go smoothly. But this is getting ridiculous.
For months, Jeffery Loria held the possibility of a sale of the Miami Marlins over the head of Major League Baseball. Even while hosting the All-Star festivities, the sale loomed large. It’s been a back-and-forth with endless amounts of misinformation.
First, it seemed as if Jeter had completed a purchase of the team. Then it didn’t. Then Jeb Bush flipped to the Rothbaum Group. Mas entered the mix and emerged as the favorite. Jeter faded into an afterthought, and possibly sought to join Mas’ bid.
Well the tables have turned. It appears Jorge Mas is vying to join Jeter’s bid.
Barry Jackson of the Miami Herald, who first broke news of the sale, is in the know. And his sources are telling him that there have been preliminary negotiations between the Jeter/Sherman group and Mas.
As it stands, Bruce Sherman would be the managing general partner, meaning he is the primary investor and “control person”. However, he has agreed to cede all business and baseball operations to Derek Jeter.
Sherman’s personal investment of $400 million appears to have been the deciding factor in getting the purchase agreement signed. While nothing set in stone, Mas would look to purchase his way into the group, allowing Sherman to reduce his investment.
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The hangup could be over the issue of control. Jeter has been unwilling to give up control of the business and baseball end of operations. If Mas is to invest a substantial amount of his own money, he will likely want to be more than a silent partner.
Sherman has already granted Jeter the decision making power he desired. He’s not likely to give it up now that he has it.
Mas still in the running
For the time being, it appears that Jorge Mas is still interested in owning a significant portion of the Miami Marlins. For weeks, he threatened to withdraw his bid as his request for a exclusive negotiating window was denied.
Now if he wants in on the party, he’ll have to go through Derek Jeter, not Jeffery Loria.
Mas would be an excellent addition to the Miami Marlins ownership. He brings business savvy, deep connections, and deeper pockets. He’s a South Florida guy, through-and-through, and his pairing with Jeter forms a potent one-two punch.
But keep in mind that nothing is final yet. Jeffery Loria still owns the team. And while a purchase agreement has been signed, the owners still need to vote on the sale. Things can still fall apart as they have in the past.
It’s wise not to speculate too much. The sale has been impossible to predict to this point, and something tells me the twists aren’t done yet.