AP Source: Jeter Doesn't Have Money Needed To Buy Marlins
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MIAMI (AP) — Derek Jeter told Major League Baseball on Thursday he doesn't yet have the necessary money to buy the Miami Marlins and is still seeking help from other investors, a person familiar with the negotiations said.
The person described the status of the Marlins' sale talks to The Associated Press on condition of anonymity because the team isn't discussing the negotiations publicly.
The person said Jeter, a 14-time All-Star shortstop, met with MLB and Marlins officials in New York and provided an update on his efforts to raise the needed money. The person said multiple other groups remain in the mix to purchase the team.
Jeter's group bid about $1.3 billion to buy the Marlins from Jeffrey Loria. A similar bid was submitted by a group led by Massachusetts businessman Tagg Romney, son of former Republican presidential nominee Mitt Romney.
Jeter continued his pursuit of the franchise after former Florida Gov. Jeb Bush dropped out of his group. The commissioner's office wants the purchasing group to demonstrate it has enough cash both to close the deal and operate the team.
Loria bought the Marlins for $158.5 million in 2002 from John Henry, and the Marlins confirmed in February the team was for sale.
Jeter retired in 2014 after 20 seasons with the New York Yankees. He lives in Tampa and has long talked of his desire to own a team.
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