Derek Jeter turns to Michael Dell to keep Marlins bid alive

An investment firm affiliated with personal computer impresario Michael Dell is helping former New York Yankees all-star Derek Jeter fulfill his dream of owning a Major League Baseball team, FOX Business has learned. MSD Partners – named after the founder and chief executive of Dell Technologies--has agreed to extend $175 million in financing to Jeter in his attempt to purchase the Miami Marlins baseball team, according to two people with direct knowledge of the matter. The financing is in the form of preferred stock, which will allow MSD to earn as much as 10 percent dividend if Jeter's bid to buy the team is successful, these people add. Jeter heads one of a handful of bidding teams interested in purchasing the Miami Marlins; his bid of around $1.3 billion was said to be short of the necessary cash to purchase the team. But in recent weeks Jeter's investment banker, former Morgan Stanley executive Gregory Fleming, has been cobbling together commitments from various investors in an attempt to purchase the team, these people say.