Marlins have 'handshake agreement' on $1.6B sale, report says

10 February, 2017, 02:17 | Author: Felix Jensen
  • Jeffrey Loria

Forbes reported Thursday, citing two anonymous sources, that the Marlins owner Jeffrey Loria has a "handshake agreement" to sell the club for $1.6 billion.

Although Charles Kushner has been reported to be involved in negotiations with the Marlins according to ESPN, sources say he is not involved.

The Marlins' current owner, art dealer Jeffrey Loria, bought the team for $158 million in 2002. The Marlins have been among the lowest average attendance in baseball for almost a decade, despite playing in a $639 million stadium - which was primarily funded by taxpayers - that opened in 2012. They also have their net worth tied up in real estate and would not have the cash to buy the team, creating a possible issue when being vetted by the Major League Baseball.

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It's not a secret that the Miami Marlins have pretty much been up for sale for some time now. That would require the buyer to take on a lot of debt, and Major League Baseball may not be comfortable with that.

The Marlins haven't made the postseason since they won the World Series in 2003, and they haven't had a winning record since 2009, when they finished 87-75. In an effort to be competitive in the first year of the new park, Loria authorized big signings, including shortstop Jose Reyes and starting pitcher Mark Buehrle.

"We are in business to make money", Samson, said in an interview before the 2012 season. "But you don't do that". Loria is - and this isn't an exaggeration - the most disliked owner in baseball if not all of sports. Whether or not any real fans remain after years of alienating behavior by ownership remains to be seen.

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