According to Forbes, there is a real estate developer in New York who has a “handshake agreement” to pay $1.6 billion for the Miami Marlins, just as soon as he can acquire $1.6 billion.
My sources would not say who the $1.6 billion handshake agreement was with other than he is a real estate developer based in New York City. The problem, according to these sources, is the potential buyer is not liquid, meaning he does not have the cash to buy the Marlins because his net worth is tied up in real estate. Thus, for the real estate developer to purchase the Marlins would likely require more debt than MLB would be comfortable with.
In other words, a guy — an unnamed guy, no less — who doesn’t actually have $1.6 billion has offered to pay $1.6 billion for the Miami Marlins. Just needs to liquidate some assets first and this is a done deal …
I hate to be a cynic, but it seems like somebody needs to here. What evidence do we have that this is anything other than Marlins owner Jeffrey Loria cleverly leaking an asking price on the franchise that cost him just $158 million in 2002?
The Marlins haven’t been a particularly successful franchise on the field, and they haven’t drawn much of a crowd, either. Taxpayers bought them a $639 million stadium five years ago, and the team hasn’t yet had a winning season in it.
I’m not calling this a John Spano situation, but consider me skeptical that this offer has any realistic basis.