Mitt Romney’s Solamere Capital mulled purchase of Marlins
An investment firm that is run by Mitt Romney and his oldest son, Tagg, made an attempt to purchase the Miami Marlins, a move that could have given the former Republican presidential nominee a top role in the 23-year-old baseball franchise.
Solamere Capital, a Boston-based firm that Mitt Romney has been closely associated with, over the past several weeks has shown increasing interest in owning the team.
But it appears the deal fell through.
“We [had] been looking at the Marlins on behalf of some of the families that are a part of Solamere,” said Matt Waldrip, who works in business development and external affairs at Solamere. He indicated the transaction almost certainly was not moving forward.
Waldrip said that Mitt Romney — who sits on the firm’s investment committee — was involved in the decision-making over the purchase, but he was not at the forefront of it. Talks about bidding on the team were occurring before last week’s election in which Donald Trump — whose candidacy Romney strongly opposed — won the presidency.
“Mitt Romney is associated with the firm but he’s not leading the charge on this by any stretch of the imagination,” Waldrip said.
Romney is the chairman of the executive committee at the firm. The managing partners are Tagg Romney and Spencer Zwick, a longtime Romney aide who has been referred to as his sixth son. A third managing partner is Eric Scheuermann.
The trio of managing partners founded the investment firm in the wake of Romney’s 2008 presidential primary loss. Many of their initial clients were donors to Romney’s political campaign.
The firm has since grown, and holds an annual conference in Deer Valley, Utah, in conjunction with Romney’s former political supporters and donors.
It does not appear that the firm was seeking to invest in a baseball team, but the opportunity arose through one of its investors.
“We don’t always understand the reasons for our families being interested,” Waldrip said. “We will look at it and figure out if it makes broader sense.”
Waldrip would not name the family that was interested in the investment.
Romney has a strong history with the Olympics, having run the 2002 Winter Olympics in Salt Lake City. Tagg Romney has some experience in a baseball front office. In 2005, the Dodgers — run at the time by Frank and Jamie McCourt — hired Tagg as the team’s marketing director. He left about a year later to help his father’s first presidential bid.
Tagg, like his four brothers, grew up an ardent Red Sox fan, and has held season’s tickets.