Quogue Capital founder Wayne Rothbaum won’t join Derek Jeter and Jeb Bush in their bid for the Miami Marlins, according to a person familiar with the matter.
Rothbaum had been in talks to contribute $150 million to the $1.3 billion bid, said the person, who asked to be anonymous because the process is private. The investor bowed out because he was unable to reach agreement on the terms of his investment.
Rothbaum didn’t return a message left at his office seeking comment.
Losing Rothbaum calls into question whether Jeter and Bush can raise the money they need to finance their bid, which was provisionally accepted by Marlins owner Jeffrey Loria.
The Jeter-Bush group made the highest offer, beating bids from Rothbaum and from Solamere Capital co-founder Tagg Romney. Rothbaum had also held talks with Romney about joining his bid, the person said.
Loria bought the team in 2002 for $158 million.
This article was provided by Bloomberg News.