In April, Jeb Bush and Derek Jeter were part of a group that agreed in principle to buy the Miami Marlins. That group is still pursuing a bid, but they’ll be doing it without the former governor of Florida. Bush backed out of the deal and has reportedly “ended his participation in sales talks,” according to the Associated Press.
The main reason for Bush’s departure is control. He only had about $20 million of his own money included in the potential deal, and Jeter and the rest of the group wondered how involved he’d be with such a small amount invested.
Jeter is reportedly still interested in purchasing the team even with Bush out of the picture, and in fact, will likely seek even more control. The initial plan was for Jeter to handle baseball operations while Bush took care of the business side of things, though Jeter may be more hands-on now.
Though Jeter will look to team up with other investors, the new frontrunner for purchasing the Marlins is a group led by Tagg Romney, son of former presidential nominee Mitt Romney. That purchasing group also includes former pitcher Tom Glavine.
Jeffrey Loria bought the Marlins in 2002 for $158.5 million. The bid from Jeter’s group was around $1.3 billion.