Former Florida governor Jeb Bush has put an end to his bid for the Miami Marlins, according to a report from the Miami Herald.
Bush was part of a group with Wayne Rothbaum, the founder of the Quogue Capital investment fund. This was Bush's second attempt to buy the Marlins this year, as he was also a part of a group that included Derek Jeter previously. Bush was expected to invest a minimal amount, but may have had a managing role in the eventual ownership deal.
The Bush and Rothbaum group previously included Tagg Romney and also featured a number of former Major League Baseball players. Once Rothbaum exited, the bid from the rest of the group ended. The fund founder was expected to invest most of the money in the deal.
With Bush's group out of the running, the Marlins are now being targeted by only two remaining groups. Jeter is still attempting to buy the team along with several investors, while local businessman Jorge Mas has a group of his own. Neither group has reached owner Jeffrey Loria's asking price as of yet.
Loria is seeking a reported $1.2 billion for the team and thus far has been met with some resistance on that price. While Jeter reportedly offered that amount, he has not been able to find enough funding to complete the sale. Mas' offer is considered close to Jeter's, but he has not formally completed funding either.
While the Marlins have made very few public statements in regards to the sale, MLB commissioner Rob Manfred has not been shy with his thoughts. Manfred has met with a number of parties involved in the sale along the way and has let it be known that he would like a quick resolution.
“We hope that happens in days and not months,” Manfred told the New York Post in May.
It still appears to be a matter of when and not if, in terms of a sale of the team. That process could still take several more months to finish however. Any sale would also need to be approved by the league and the other 29 owners. Neither remaining group is expected to have much trouble in that regard.
The slow progress off the field, has been met with some disappointment on the field as well. With the sale of the team hanging in the balance, the Marlins are currently on pace for another losing season.