MLB

AP source: Loria has preliminary agreement to sell Marlins

MIAMI (AP) A person with direct knowledge of the negotiations says Miami Marlins owner Jeffrey Loria has a preliminary agreement to sell the team to a New York businessman, but the deal could fall through because the final purchase price hasn't been determined.

The person spoke to The Associated Press on condition of anonymity Thursday 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.

More from FoxSports

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.