The group led by Jeb Bush and Derek Jeter negotiating to buy the Marlins is working with Citibank, a source said. Previous reports had connected the group to different advisors, including N.Y.-based financier Anthony Scaramucci, but Citibank has a long-standing relationship with the Bush family and had been advising on the deal. A source said all the capital is raised for the $1.3B purchase. That figure is not all cash, but would be the value assigned the franchise. There is substantial debt on the team, and the equity may get whittled down further to account for expected financial losses at the club. A deal is expected soon, the source said. Citibank declined to comment.
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