According to the source, Bush’s group has agreed to pay $1.3 billion for the team.
The source said the Marlins and the Bush group are very optimistic a deal will be finalized, but the process could take months to conclude.
Bush plans to be the Marlins’ “control person,” the individual who would have ultimate control over franchise decisions, according to the source.
Jeter, the former All-Star player who lives in Tampa, plans to play an active role in the franchise.
Bush’s group includes at least five investors, and the identity of those investors and their connections to South Florida are unknown. All of Bush and Jeter’s partners would need to be vetted and approved by Major League Baseball.
It’s also unclear which of those investors has the most money invested in the bid, but a source reiterated that Bush will be the control person, similar to a managing partner.
Loria does not plan to retain a piece of the team that he has owned since 2002, the source said.
Bush was informed this week that his offer was selected over bids from at least two others — New York businessman Wayne Rothbaum and a group led by Massachusetts businessman Tagg Romney, son of former Republican presidential nominee Mitt Romney.