Derek Jeter and Jeb Bush to Buy Marlins

Derek Jeter and Jeb Bush to Buy Marlins

According to Forbes reporter Mike Ozanian, the group led by Derek Jeter and Jeb Bush has submitted "non-binding indication of interest" in the team.

There still is a long way to go in the process.

But the group, which reportedly has more than five investors with Bush as the "control person", still needs at least 75% of Major League Baseball owners to approve the decision for it to become official. As news came down of a Jeter-Jeb Bush ownership duo for the Miami Marlins, Twitter reacted with some hot takes on the news, what it means and a (likely) eventual awkward moment between Yankees legends. But over the past year, people who know Jeter say he is most animated with the possibility of being a team owner - a move that has set off a frenzy of investment banking discussions about how to best finance such a deal.

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Derek Jeter is taking his talents to South Beach.

Within the past few days, former big-league pitcher Tom Glavine told the Boston Globe he was working for the Romney group to lure investors.

But Jeter - who would assume an active role with the club, according to the Herald - is not one to risk embarrassment by leaving things to chance.

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Why bother with a market that has yet to show it can support baseball on a consistent basis, though exasperating ownerships have been partly to blame?

Jeter, meanwhile, has made no secret of his desire to buy an Major League Baseball team, as FOX Business was first to report in 2015.

Marlins owner and CEO Jeffrey Loria, right, congratulates Marlins' player Marcell Ozuna.

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"I've made it very clear of ownership aspirations at some point", Jeter said in December.

Any change of ownership would also need to be approved by Major League Baseball, something which could in theory take place at the league's next owners meeting set for May 16-18 in NY. They won a World Series the next year, and in 2012 they opened a $634 million ballpark, with some 80 percent of financing coming from the city of Miami and Miami-Dade County. But the Marlins have failed to make the postseason since then, and the Loria era has marked by frequent teardowns and rebuilds.

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