Marlins sign agreement to sell to Jeter group

Ross Houston
August 13, 2017

An investment group led by a NY businessman and Players Tribune editor-in-chief Derek Jeter has made the winning bid to buy the Miami Marlins, according to multiple reports.

The Sherman-Jeter group signed their deal for $1.2 billion to buy the team from Jeffrey Loria Friday night, as FanRag reported.

According to Barry Jackson of the Miami Herald, New York businessman Bruce Sherman will be the "control person", but that Jeter will be left to run both the business and baseball sides of the organization.

In addition to Sherman and Jeter, NBA Hall of Famer Michael Jordan has reportedly invested in the team. That vote is expected to take place in September and the deal could be finalized in October.

Jorge Mas will not be part of the Jeter group, Samson also confirmed on Saturday.

Sherman, who will be the controlling owner, spent much of his financial career in NY and has a home in Naples, Florida. "I love it here".

Loria announced in March his intention to sell the team.

Jeter, Sherman and the rest of the group will inherit a ballclub with plenty of questions and large contracts.

Many around baseball predicted success for the new regime. "Great choice", Baltimore Orioles manager Buck Showalter said.

Loria, 76, has always been criticized for his frugal ways and for the public financing that helped build 5-year-old Marlins Park. The legendary player has owned the Charlotte Bobcats for several seasons. "And it was hard to say that about previous owners".

Other reports by iNewsToday