Quogue Capital's Rothbaum Said to Bid for MLB's Miami MarlinsBy
Other bidders for team include Derek Jeter group, Jeb Bush
Kushner family abandoned bid for team owned by Jeffrey Loria
Quogue Capital founder Wayne P. Rothbaum is among the final bidders for baseball’s Miami Marlins, according to people close to the negotiations.
Bids were due last week and came in between $1.2 billion and $1.3 billion, said one of the people, who asked for anonymity because the talks are private. That would be a premium to Forbes’ $940 million valuation of the team and an eightfold return for owner Jeffrey Loria, who bought the Major League Baseball team in 2002 for $158 million.
Rothbaum has been a biotech investor for nearly 25 years. In 2002, he founded New York-based Quogue Capital LLC. In 2008, Rothbaum and the firm agreed to pay $1.3 million to settle U.S. Securities and Exchange Commission allegations that they had violated a ban on selling equities short during a blackout period prior to an initial public offering. Rothbaum and Quogue neither admitted nor denied the charges, the SEC said.
Rothbaum didn’t return a voice mail left at Quogue Capital. Goldman Sachs Group Inc. is said to be representing the investor in his bid for the team.
Former Florida Governor Jeb Bush and former New York Yankees All-Star Derek Jeter are also among the final bidders for the team. Representatives for Bush declined to comment.
Wayne Katz, the Proskauer Rose attorney representing the team, declined to comment.
The Marlins had been close to a deal with the Kushner family, relatives by marriage to President Donald Trump, but no agreement was reached. Kushner Cos., which was founded by Charles Kushner in 1985, focuses on Manhattan real estate. His son, Jared, is married to Trump’s daughter, Ivanka, and is a senior adviser to the president.
Trump is considering Loria as the U.S. ambassador to France. The Marlins are 8-6 this season, second to the Washington Nationals in the National League East.
— With assistance by Neil Weinberg, and Jennifer Jacobs