Are Miami Marlins In Process of Being Sold?

Posted February 10, 2017

According to two reports, one from Forbes and one from the Associated Press, Miami Marlins owner Jeffrey Loria is close to selling his team to an unidentified NY businessman, perhaps for as much as $1.6 fucking billion.

Needless to say, Marlins fans were thrilled to hear Loria may be selling the team.

The report does stress that an official agreement is not imminent, in large part because the buyer - reportedly a New York City real estate developer - isn't liquid. 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.

Jeffrey Loria's time as Marlins owner might be coming to a close.

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Any sale of the team would be subject to approval by the Major League Baseball and the 29 other owners.

"He's going to sell it, no doubt about it", said one Marlins official, who spoke only under the condition he not be identified. The team won the World Series in 2003, but have not returned to the playoffs since.

Despite their relative small regional TV income, the Marlins are an attractive purchase target for a couple of reasons: the team's relatively new ballpark (Marlins Park opened in 2012) and baseball's recently agreed-upon collective bargaining agreement that guarantees labor peace through the 2021 season. The Marlins have not finished with a winning record since 2009. While Loria and his group did well to get a new venue erected in Miami, it has not necessarily been met with applause. The price tag on the sale would be $1.6 billion. Those deals have rendered the Marlins as one of the most talent-thin farm systems in baseball.