Earlier in the offseason, word leaked that Jeffrey Loria the Miami Marlins owner would sell the team at the price of $1.7 billion.
According to a report by Forbes, Miami currently has a tentative agreement that was confirmed by a handshake to sell the team at the price of $1.6 billion.
A sale apparently is not imminent as it takes some time and no one in the Marlins organization has commented about the report.
One report from ESPN said that Charles Kushner was part of a larger group that wanted to buy the Marlins. Kushner is Ivanka Trump’s father in law. Jared Kushner, his son, is President Trump’s senior advisor.
In 2002, Loria acquired the ball club for a price of $158.5 million. Loria sold the Montreal Expos, as part of the deal to purchase the Marlins, to the other 29 owners of MLB for a price of $120 million.
The commissioner’s office ran the Expos until the franchise moved to Washington.
According to a report, the Marlins currently are worth $675 million. Of course, that does not mean they would be sold for the same $675 million. Other factors come into play such as the team’s ballpark, its television contract and the possible future earning potential.
Five years ago, the Los Angeles Dodgers were sold for $2 billion, when they had been valued at $1.4 billion.
Miami has a new ballpark and a television deal that will soon expire. The park is just five years old and millions of dollars in taxpayer money was used meaning the debt on the park is relatively low. That helps when selling a franchise to a new owner.
The television contract currently signed between the Marlins and Fox Sports Florida is worth $20 million which is low by today’s standards, as the Dodgers have one that is worth $300 million annually.
However, the television deal ends in 2020 which is not too far away. That means a dramatic increase in television revenue will come in just four more seasons.
The Marlins also do not have many long term contracts with players, with only the contract with Giancarlo Stanton being onerous. The Stanton deal is $325 million over 13 years with 11 years still remaining. He is owed $309.5 million with the contract running through the 2027 season.
Whether this sale actually comes to fruition is not known, but an owner shakeup in Miami might be what the franchise needs to bring in more attendance and attract more talent.