Report: Charles Kushner Is Trying To Buy The Miami Marlins
Charles Kushner, once imprisoned for tax evasion and attempting to blackmail his family, has reportedly been growing in influence at his eponymous firm since his son's interests shifted from real estate to politics. Marlins owner Jeffrey Loria — who donated $125k to President Donald Trump's campaign — reportedly has a "handshake agreement" with a New York developer to sell the team for $1.6B, but ESPN couldn't confirm if it is Kushner's hand Loria shook or one of his real estate rivals.
A hangup in the deal could be where the elder Kushner holds his wealth. When Major League Baseball approves a team sale — which it must do for any sale to go through — it typically prefers a hefty amount of the sale to come via cash, rather than debt. Considering most of Kushner's assets are in real estate, coming up with a half-billion dollars or more could be a deal-breaker.
Kushner's criminal record and his son's position in the most polarizing White House in recent history could also be roadblocks to a deal, although Joshua Kushner, who runs private equity firm Cadre, could theoretically be named the team's majority owner. Sports team ownership being divided among families is common.
If Kushner successfully purchases the team, he will join Related Cos. chairman Stephen Ross as Tri-State Area real estate moguls who own pro sports franchises in Miami. Ross owns the NFL's Miami Dolphins.