The group is believed to have reached an agreement with current Marlins owner Jeffrey Loria to buy the franchise for $1.3 billion. Forbes had said the franchise is worth $940 million. Loria bought if for $158 million in 2002.
The news was first reported via the Miami Herald and Bloomberg, quoting a person with knowledge of the deal. The deal hasn’t been signed yet, the person said, and the person wouldn’t name the other investors besides Bush and Jeter.
Jeter, who spent his entire 20-year major league baseball career in Yankee pinstripes, has been eager to buy a team since retiring.
Last year, In an interview with the New York Yankees YES Network, the former shortstop said he would like to own a team.
“The next ultimate goal is to be an owner,” Jeter said. “I would love to call the shots. I think I’ve learned a lot in my career, not only what goes on on the field but I learned a lot from our late owner [George Steinbrenner] on how to run organizations.”
At the time, it was speculated that he was aiming to buy the Tampa Bay Rays since he already owns a home on Davis Island in Tampa. “I like warm weather,” Jeter said at the time. Last year, The Rays were rated by Forbes magazine as the least valuable MLB franchise at $451 million.
According to Sportsgrid.com, Jeter is worth about $185 million. The 42 year-old Yankee vet won five World Series rings. His No. 2 jersey will be retired by the organization on May 14 at Yankee Stadium.
Jeter is also an investor, having backed several startups including the Players’ Tribune.