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This MLB offseason was quiet. Too quiet. Looks like that is about to change.
According to Forbes, Marlins owner Jeffrey Loria has a handshake agreement to sell the team for $1.6 Million. Not many other details are known, aside from the reported winning bidder being a real estate developer from New York.
Miami Marlins claim to have $1.6 billion handshake agreement for team https://t.co/eaPG9FEUFR pic.twitter.com/sYace53FXk
— Forbes (@Forbes) February 9, 2017
Marlins fans have been waiting for this news for a long time. Nothing is official but if this comes to fruition, this will make a lot of people very happy; including Loria. $1.6 billion is a lot of Benjamins.
official word from marlins on forbes report they are selling team for $1.6B: "not commenting. sorry."
— Jon Heyman (@JonHeyman) February 9, 2017
The Marlins refused to comment when reached by Jon Heyman. This isn’t much of a surprise.
other team owners seem pretty excited about the price in reported $1.6B marlins agreement. shows high value of franchises.
— Jon Heyman (@JonHeyman) February 9, 2017
This is a really big deal. Forbes had the Marlins valued at $675 million. So either teams are worth a lot more than expected or Loria really is a masterful businessman.
Have been told neither Jeter nor A-Rod part of group trying to buy #Marlins. Both have expressed interest in ownership, ties to Fla/Miami
— Joel Sherman (@Joelsherman1) February 9, 2017
Former players are linked to ownership groups all the time. Don’t be surprised if a familiar name is involved with the potential winning bid.
"Handshake agreement" or FAKE NEWS to get Loria the asking price he wants for the team
— Brendan Tobin (@Brendan_Tobin) February 9, 2017
As mentioned in our reaction piece, there is a possibility that there is no buyer.
Owning a sports team can be a pretty sweet racket. https://t.co/zlVBbiqpn2
— Jonah Keri (@jonahkeri) February 9, 2017
Jonah Keri wrote a fantastic article a couple months ago detailing how Loria turned a $12 million investment in the Expos into full ownership of the Marlins.
Jeffrey Loria bought the Marlins for $158 million in 2002. Ten losing seasons and a boondoggle stadium later, he's selling for $1.6 billion.
— Zachary D. Rymer (@zachrymer) February 9, 2017
Loria selling the Marlins for $1.6 billion after getting $500 million from the public for their stadium would be peak American sports
— Ryan (@RyanRosenblatt) February 9, 2017
If Loria sells the Marlins for $1.6B, they should be forced to immediately repay the city of miami the $500M + that we paid for that stadium
— Andy King (@AndyKingSXM) February 9, 2017
Jeff Loria ruined two MLB franchises, cheated Miami taxpayers and is now poised to (reportedly) make another huge fortune. Hat's off to him.
— Eric Kabakoff (@erickabakoff) February 9, 2017
Ouch.