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The Scribe

Money for the Marlins

Staff Writer, Mehmood Elahi

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The purchase of a sporting team is always an exciting venture, but the recent bid for the Miami Marlins may draw even more attention, especially around the White House. The New York real estate powerhouse family, the Kushners, whose son is a close advisor to President Donald Trump, are in talks to buy the team. Leading the negotiation is Joshua Kushner, a venture capitalist and his brother-in-law Joseph Meyer, who have been pursuing the Marlins for many months now, creating a complex financial agreement that hopes to integrate even more partners in the future.

 

Jared Kushner, Trump’s son in law and husband of Ivanka, nor Charles Kushner, the Kushner patriarch, who notably spent time in jail for financial manipulations, is participating in the bid for the Marlins. Forbes reported earlier this month that the Marlins had engaged in an informal agreement to give up the team for around $1.6 billion, an immense amount which has hindered the Kushner venture towards the team.

 

A deal of such a magnitude would have to go through the Major League Baseball organization and could be denounced as a result of Charles Kushner’s illegal monetary schemes. But as long Charles Kushner is not involved in the proceedings, the Marlins have a relatively high chance of meeting MLB’s approval. The deal has also led to questions involving the interactions between President Trump and team and if such a relationship would be a benefit or misfortune. One concern involves Trump’s scathing use of Twitter posting and the kind of implications it would have on sponsors or fans.

 

Jared Kushner has confirmed that he will not be involved in any sort of purchase for the Marlins, and in fact has blocked himself off from family financial engagements. Earlier in 2012, Kushner and his brother had attempted to purchase the Los Angeles Dodgers, although they lost their bid to a group financed by the firm Guggenheim Partners. Said group ended up paying upwards of 2 billion dollars for the team.

 

Kushner’s bid, given that their bid goes through, hopes to draw upon his expertise in investing in technological companies, and make claims to the digital rights of the Marlins.

 

Currently, the Marlins are headed by Jeff Loria, who paid a cool $158 million for the team in 2002, after returning the Montreal Expos back to Major League Baseball. The same Marlins won the World Series in 2003, defeating the Yankees, but has yet to return to the playoffs since then. Whether or not the deal strikes out, it is sure to be an interesting exchange.

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The student news site of Adrian Wilcox High School in Santa Clara, California
Money for the Marlins