A group led by Derek Jeter has agreed to buy the Miami Marlins.
Former Yankees’ great Derek Jeter is set to become a co-owner of Major League Baseball’s Miami Marlins.
Current Marlins owner Jeffrey Loria has reached an agreement to sell the franchise for $1.2 billion to the Jeter and his group, including New York businessman Bruce Sherman. The sale is reportedly not complete
The Miami Herald first reported that the Sherman-Jeter group had reached an agreement with Loria.
The agreement is expected to be completed Friday and subsequently submitted to Major League Baseball, which likely will not vote on the acquisition at next week’s owners’ meetings in Chicago.
Jeter, who will to contribute approximately $25 million in the sale, will reportedly to run the Marlins’ baseball operations department. Sherman will serve as the team’s “control person” regarding all matters relating to Major League Baseball and its central office.