Michael Dell is the latest investor to join in with Derek Jeter's pursuit of the Miami Marlins, according to a report from the Miami Herald.
Jeter is one of several people trying to purchase the Marlins from Jeffrey Loria, but has thus far had trouble lining up the necessary funds. A significant investment from Dell, could end up tipping things in Jeter's favor. Dell's investment comes via MSD Partners, which is an advisory firm related to Dell's family office.
The total being invested by MSD Partners is worth a reported $175 million. There is a caveat to this investment however, as it is in the form of preferred stock. Major League Baseball is looking for a good percentage of the sale to be in liquid form and this would represent a significant portion of the purchase price. With bids expected to be around the $1.2 billion mark, this investment could be a significant one in the eyes of baseball.
Dell is the founder, chairman and CEO of Dell Technologies. The computer systems are used in offices far and wide, as well in the homes of many fans of the game. Dell's a household name in terms of businessmen and has led a relatively controversy-free life. With all owners having a say in the ultimate winner of the team, these will be important aspects of Dell's involvement.
In addition to Dell and Jeter, the hopeful ownership group also reportedly includes roughly $300 million from Florida money manager Bruce Sherman. Combining Sherman, Dell and Jeter's bids would put this group at nearly half the expected bid alone. There are expected to be other names in the group as well.
If Jeter's group should win the team, he is expected to serve as the control person for the team. Jeter would run both the baseball and business operations departments, despite only investing a modest amount himself. That factor was the reported reason for a fallout with Jeb Bush earlier in this ownership saga. Bush is now aligned with a competing group, which also includes Wayne Rothbaum.
While the Marlins continue to work on this sale, they are also busy selling off parts of the roster at the same time. Miami has made numerous payroll-reducing moves over the past few weeks. In addition to cutting costs, the Marlins have also stocked a depleted farm system with new prospects. Miami could make more moves ahead of Monday's trade deadline.