Jeb Bush no longer interested in buying Marlins

Retired New York Yankees shortstop Derek Jeter shown addressing the crowd during a pregame ceremony retiring his number 2 at Yankee Stadium in New York Sunday

Bush and Jeter won the auction to buy the team last month with a $1.3 billion bid, but the group couldn't secure investors and never reached agreement on who would control the franchise, according to one of the people, who asked not to be identified because the decision hasn't been announced.

The person confirmed Bush's decision to The Associated Press on condition of anonymity because the Marlins have not commented on the status of sales talks. The Romney group includes Hall of Fame pitcher Tom Glavine and former Arizona Diamondbacks general manager Dave Stewart. 'It's a sport that has huge potential in Miami.

It was not immediately clear why Bush dropped his efforts to buy the Major League Baseball team. Bush and partner Derek Jeter were previously considered the front-runners to purchase the team, which is being sold by owner Jeffrey Loria this summer. Jeter and Bush were expected to invest no more than $200 million combined, which means they would have to raise between $800 million and $900 million in cash to comply with guidelines specified by Manfred to avoid the team operating with a high level of debt.

Neither the Marlins nor Manfred would comment on reports of Bush's withdrawal. Jeter's agent, Casey Close, didn't immediately respond to an email seeking comment.

Bush, 64, served two terms as governor from 1999-2007. He served two terms as governor from 1999-2007 and was an unsuccessful candidate past year for the Republican nomination for president. Romney, 47, has been a MA businessman, venture capitalist and political adviser.

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