Charles Kushner Interested In Purchasing Miami Marlins

The potential sale of the Miami Marlins has a long way to go, but the name of at least one person who has been in negotiations to buy the team is sure to cause a stir.

Multiple sources with knowledge of the negotiations have told ESPN that real estate mogul Charles Kushner, father-in-law of Ivanka Trump, is part of a potential purchase group.

It is not known if he is the primary bidder.

His son Jared Kushner is the senior adviser to President Donald Trump.

The New York Times reported Thursday night that Charles Kushner’s other son, Josh, and Josh’s brother-in-law, Joseph Meyer, have “pursued the Marlins for several months.

” The newspaper reported that negotiations are being managed by Liontree, an investment the family hired.

“Under Major League Baseball rules, the Commissioner’s Office must be informed of any conversations about a potential sale,” Major League Baseball said in a statement provided to ESPN. “The Commissioner’s Office has not heard directly or indirectly of any conversation involving Charles Kushner.”

A spokesperson for Charles Kushner declined comment. Marlins president David Samson also declined comment.

Earlier Thursday, Forbes and The Associated Press reported that Marlins owner Jeffrey Loria had a preliminary agreement to sell the team for about $1.6 billion to a New York businessman, but the deal could fall through because the final purchase price hasn’t been determined, a person with direct knowledge of the negotiations said Thursday.

It is not known whether Kushner is part of that group, or possibly another group that is interested in buying the team, as the source told the AP that negotiations with other parties might eventually be reopened.

In 2012, Jared Kushner submitted a bid to buy the Los Angeles Dodgers.

Kushner, whose father was not included on it, withdrew from the bidding when it was clear that it was not one of the adequately financed deals. Charles Kushner looked into buying an NBA team over the past eight years, another source with knowledge told ESPN.

Financing could be an obstacle for Charles Kushner in this case, should he be the lead bidder, as much of his money is tied up in real estate. It is not known who the other bidders might be and what their financial situation is, but in order to finance a deal that Forbes said would be worth $1.6 billion, about $600 million in cash would be needed, one financing source said.

If Kushner were to be the managing partner, approval might be difficult from a public relations standpoint considering scrutiny faced by the Trump White House. Charles Kushner also served time in prison for tax evasion, witness tampering and making illegal campaign contributions.

Loria bought the Marlins from John Henry in 2002 for $158 million, funding the purchase by selling the Montreal Expos to Major League Baseball for $120 million and covering the rest with a $38 million loan from MLB.

Some of the value of the team has been boosted by MLB’s Advanced Media business, which is owned equally by all owners.

The Marlins enter 2017 looking for their first winning season since 2009, as a late fade dropped Miami to a 79-82 finish in 2016.

1 reply
  1. Joe Levin
    Joe Levin says:

    The family of presidential adviser Jared Kushner is in talks to purchase the Miami Marlins baseball team, The New York Times reported.

    The Kushners, a New York area real estate family, regard the team’s $1.6 billion price tag as too high, the Times reported Thursday.

    The negotiations, which have been ongoing for several months, are being led by Joshua Kushner, a venture capitalist and Jared’s younger brother, and Joseph Meyer, his brother-in-law and key lieutenant for the family’s investments.

    The talks include a complicated financial arrangement that would include bringing in partners later, unnamed sources told the Times.

    Jared Kushner is a senior adviser to President Donald Trump and the husband of his eldest daughter, Ivanka. The couple married in 2009 following her conversion to Judaism.

    Neither Jared Kushner nor his father, Charles, the family patriarch who spent over a year in prison for illegal campaign donations, tax evasion and witness tampering, is participating in the effort, the sources added.

    Any deal would have to be approved by Major League Baseball, which would closely scrutinize the buyer’s financing and probably seek to ensure that Charles Kushner had no role in operations, according to the Times report.

    Jared Kushner, who has pledged to refrain from any involvement in transactions tied to his family to avoid the possibility of conflict of interests, had previously bid for the Los Angeles Dodgers with his brother. They eventually withdrew from the bidding in 2012. The winning group paid over $2 billion.

    Representatives for the Kushners, the Marlins and the LionTree investment bank declined to comment when approached by the Times.

    The Marlins are currently owned by Jeffrey Loria, a Jewish businessman from New York. He paid $158 million for the team in 2002 after selling the Montreal Expos back to Major League Baseball.

    The Marlins won the World Series in 2003, defeating the New York Yankees, but since then have not returned to the playoffs.

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