According to the Herald, sources close to the talks say the two are hoping to beat out NY financier Wayne Rothbaum for the team.
Marlins owner Jeffrey Loria has been trying to sell the team, which he bought for $158.5 million in 2002, since a year ago.
The Herald is reporting that Jeter and Bush were once rivals.
The recently married Jeter has long talked about his goal of owning a baseball team following his playing career, which finished in 2014.
Spokesmen for Jeter and Bush didn't respond to requests for comment. Bush's brother, former President George W. Bush, was an owner of the Texas Rangers from 1989 to 1998. "In my mind he'll always be a Yankee", Girardi said.
Derek Jeter may have found a new double play partner in his bid to buy the Miami Marlins.
Jeter has expressed interest in owning an Major League Baseball team for years - and has even gotten the blessing of the Steinbrenner family.
Loria bought the Marlins for $158.5 million in 2002.
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