According to the Associated Press, Yankees legend and future Hall of Famer Derek Jeter has informed MLB that he presently doesn't have enough money to purchase the Miami Marlins.
The group publicly fronted by Jeter has bid $1.3 billion, which is similar to a bid made by Tagg Romney's group. Jeter's group formerly included former Florida governor Jeb Bush, but Bush left the group last month. That departure may have left Jeter's group a bit shy on cash and, by extension, a bit too debt-heavy with its financing plan.
All may not be lost for Jeter, though. The AP report goes on to note that Jeter's seeking outside investors to firm up his bid. Of course, at this late stage that may be easier said than done. No doubt, MLB would love to have Jeter as the face of franchise in his post-playing days, but the overriding goal is getting an ownership group in place with enough cash to run the team competitively and properly.
Current owner Jeffrey Loria reportedly wants to have a deal in place before the end of the calendar year. That sense of haste may bode ill for Jeter's still-developing bid.
