Marlins Owner Jeffrey Loria May Sell Team To Group That Includes Josh Kushner

Jeffrey Loria has a “handshake agreement” to sell his Miami Marlins to a real estate developer based in New York, according to Forbes.

Jeffrey Loria To Sell Marlins To Josh Kushner

Forbes, which cited two unnamed sources, added Marlins president David Samson has said the team has reached an agreement to sell the franchise.

According to people with direct knowledge of the situation, the person in talks to buy the Major League Baseball team is none other than venture capitalist Joshua Kushner, first daughter Ivanka Trump’s brother-in-law.

Kushner — whose older brother Jared Kushner is married to Ivanka and is serving as a top adviser to President Donald Trump — and his brother-in-law Joseph Meyer are in charge of the family’s investments.

The Kushners have reportedly been interested in purchasing the Marlins for several months.

Neither Jared Kushner nor his father Charles Kushner, the family patriarch who spent more than one year in prison for illegal campaign donations, tax evasion, and witness tampering, is involved in the sale, sources stated.

According to Forbes’ report from Thursday, the Marlins were looking to sell for approximately $1.6 billion, a sum the Kushner family and the other people involved in the deal have allegedly stated was too high and refused to pay.

As the Associated Press reported, “the deal could fall through because the final purchase price hasn’t been determined.” The report added the final offer could be much lower and negotiations could be reworked.

Loria paid $158 million when he bought the Marlins in 2002 after selling the Montreal Expos back to MLB. The team hasn’t enjoyed a winning season since 2009 and last reached the playoffs in 2003, when they defeated the Yankees in the World Series. Their playoff drought is the second-longest in MLB.

Any deal would have to be approved by MLB, which would likely scrutinize the purchaser’s financing and would also seek to ensure Charles Kushner had no involvement with operations.

The potential deal has also raised questions within MLB, particularly regarding what kind of relationship President Trump would have to the team and whether that would help or hurt the organization. Would Mr. Trump’s comments or tweets affect how fans and sponsors view the team? Would Mr. Trump attend games?

Although Jared Kushner has not participated in this particular deal in any way, he and his brother had bid for the Los Angeles Dodgers in 2012, though they eventually withdrew from the bidding. The eventual buyer was a group backed by the financial firm Guggenheim Partners, which paid over $2 billion.

As a way to help finance the Kushners’ bid– which was being led by the boutique investment bank LionTree– the family plans to bring in additional partners to help ease the costs.

Representatives for the Kushners, the Marlins and LionTree refused to comment.

Loria was once compelled to increase the Marlins’ payroll following union complaints that he was pocketing revenue checks instead of investing them in the club’s roster. He convinced Miami-Dade County commissioners to sell bonds to finance the construction of a new $639 million stadium. Critics of the agreement argued the bond sale could potentially cost Miami taxpayers more than $1 billion.

Loria then let his payroll dip as low as $20 million, when the league’s median payroll was $80 million.

MIAMI, FL – NOVEMBER 19: Miami Marlins owner Jeffrey Loria speaks during a press conference at Marlins Park on November 19, 2014 in Miami, Florida. (Photo by Rob Foldy/Getty Images)

Article by Pablo Mena