Marlins have "handshake" agreement in place to sell the team
Posted: February 9 17, 10:31 am
http://www.mlbtraderumors.com/2017/02/m ... ement.html
The Marlins have a “handshake agreement” in place to sell the team to a New York-based real estate developer for the price of $1.6 billion, reports Mike Ozanian of Forbes. Ozanian cites two anonymous sources that claim to have been told by Marlins president David Samson that the deal is in place. The $1.6 billion price tag would be more than 10 times the $158MM price at which owner Jeffrey Loria purchased the team back in 2002.
The hangup in the reported agreement for the time being is that the potential buyer does not have enough liquid assets to make the purchase, as the majority of his net worth is tied up in real estate investments. Allowing this buyer to purchase the team would require more debt than Major League Baseball would be comfortable with, per Ozanian.
As Ozanian points out, the Dodgers’ current ownership group took on an enormous amount of debt when buying the team for $2 billion, but Guggenheim Baseball Management also had hundred of millions of dollars in hedge fund money and a $6 billion television agreement that dwarfs the Marlins’ current contract with Fox Sports Florida.
The Marlins have a “handshake agreement” in place to sell the team to a New York-based real estate developer for the price of $1.6 billion, reports Mike Ozanian of Forbes. Ozanian cites two anonymous sources that claim to have been told by Marlins president David Samson that the deal is in place. The $1.6 billion price tag would be more than 10 times the $158MM price at which owner Jeffrey Loria purchased the team back in 2002.
The hangup in the reported agreement for the time being is that the potential buyer does not have enough liquid assets to make the purchase, as the majority of his net worth is tied up in real estate investments. Allowing this buyer to purchase the team would require more debt than Major League Baseball would be comfortable with, per Ozanian.
As Ozanian points out, the Dodgers’ current ownership group took on an enormous amount of debt when buying the team for $2 billion, but Guggenheim Baseball Management also had hundred of millions of dollars in hedge fund money and a $6 billion television agreement that dwarfs the Marlins’ current contract with Fox Sports Florida.
