Marlins owner Jeffrey Loria has a preliminary agreement to sell his team to a New York businessman, but the deal could fall through because the final purchase price hasn't been determined, a person with direct knowledge of the negotiations said Thursday.
The person spoke to The Associated Press on condition of anonymity because the Marlins have not commented publicly on the negotiations.
The preliminary agreement was for a purchase price of about $1.6 billion, the person said, but added that was before the prospective buyer did due diligence. The final offer by the potential buyer could be much lower, the person said.
The person declined to identify the prospective buyer but said other parties are also interested in purchasing the team, and negotiations with them might eventually be reopened.
Forbes reported earlier Thursday, citing two unidentified sources, that Marlins President David Samson has said that there is a $1.6 billion handshake agreement for a sale.
Samson declined to comment to the AP and has been unwilling to say publicly whether the team is for sale.
Loria, 76, bought the Marlins for $158.5 million in 2002 from John Henry, part of the Boston Red Sox ownership group that has celebrated three World Series titles. The Marlins won the World Series in 2003 but haven't been the postseason since, and they haven't finished above .500 since 2009.