Jeffrey Loria is nearing a decision on the sale of the Miami Marlins and is prepared to sell the club for less than the originally reported $1.3 billion price tag, according to a report.

It was reported on Thursday afternoon that the Marlins had made "significant progress" on a sale and were expected to receive $1.1-$1.3 billion from the group that is being led by Tagg Romney, Tom Glavine and Wayne Rothbaum or the group that is led by Derek Jeter.