The ownership group led by the Yankees legend and former presidential candidate Jeb Bush has won the auction to purchase the Miami Marlins, Bloomberg reported Tuesday.
The group has agreed to pay $1.3 billion for the team, according to the Miami Herald, which said Bush will have ultimate control of the franchise, while Jeter will take a more active role.
Earlier Tuesday, Forbes reported the Jeter-Bush group was the last one standing and was frantically trying to complete the financing arrangements. The Herald later portrayed the Marlins, being sold by Jeffrey Loria, who has owned the team since 2002, as “very optimistic” the deal would go through — though the transaction could take months to complete.
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The deal will take a while to be completed. There is a trigger date that exempts the current owner from repaying the taxpayers for building the new stadium with tax dollars. Google it. Rich get richer and poor stay poor.
ReplyDelete"There is a trigger date that exempts the current owner from repaying the taxpayers for building the new stadium with tax dollars."
ReplyDeleteThis just proves that any average businessman is smarter than any average government employee or politician.
That is also why taxpayers are refusing to fund such stadiums now and some of us refuse to attend sporting events.
ReplyDeleteThat will be a low energy baseball team
ReplyDelete