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Miami Marlins Sold To Derek Jeter Backed Group

13 August, 2017, 01:40 | Author: Joan Malone
  • Cleveland Indians starter Carlos Carrasco pitches against the Tampa Bay Rays during the first inning of a baseball game Friday Aug. 11 2017 in St. Petersburg Fla

Talks between Sherman, Jeter and Loria have been ongoing for months.

In a 2014 interview with Jack Curry of the Yes Network, Jeter called owning a team "the next ultimate goal", and that he wanted to be the guy "that calls the shots".

The Miami Herald is now reporting that an agreement has been struck with Jeffrey Loria to sell the club to a group headed by Jeter and business partner Bruce Sherman.

FILE - In this May 14, 2017, file photo, former New York Yankees player Derek Jeter waves to fans during a ceremony retiring his number at Yankee Stadium in New York.

Jeter, 43, will use just $25 million of his own money to buy a stake in the Marlins. After winning the World Series in 2004, the Marlins have won zero playoff series since then and have been in the cellar of the National League most of the time.

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It isn't clear what role Mas, the chairman of Mas-Tec, would play, but there's word he could invest up to around $300M, so it could be a fairly significant one. A person familiar with the agreement said Friday the Jeter-Sherman group includes more than 10 entities.

The person said Jeter will be in charge of baseball operations.

However, it may be too early for Miami fans to celebrate just yet. He anticipates major league owners will approve the deal in September, and closing will take place shortly after the end of the regular season.

But it does appear that the sale is much more likely to happen than it is not.

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