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ibusinesslines.com May 23, 2018


Derek Jeter-Led Investors Group Purchases The Miami Marlins

13 August 2017, 01:40 | Charlene Valdez

Derek Jeter-Led Investors Group Purchases The Miami Marlins

The new Miami Marlins logo is seen over their dugout during an intrasquad spring training baseball game Sunday

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. The group finalized a $1.2 billion purchase agreement with Loria on Friday and submitted it to the Major League Baseball office.

"I learned a lot from [Steinbrenner] on how to run an organization", said Jeter.

The Miami Herald ran a story first about the agreement between the group that is headed by Bruce Sherman, a venture capitalist in NY and Loria. "He's an incredibly interesting, articulate, smart, contemplative individual". It was reported Friday that Michael Jordan would also be one of the 16 investors involved in the agreement. The legendary player has owned the Charlotte Bobcats for several seasons. Jeter is investing $25 million of his own money and will run the baseball side of the operation.

Sherman is being designated the control person, but he's 69 and it isn't clear how much day-to-day involvement he seeks. "Forget about Hall of Famer, it's not about that, it's about his ability to run a team and his desire to run a team, and it just came through so clearly what he wanted", Samson said of Jeter.


"I have been here since 2002", Samson said.

A deal would have to be approved by a vote with other franchise owners and could be approved by the first week of October. And while the Marlins have struggled and are losing money, Loria was still able to sell them for the second largest amount ever paid for a Major League Baseball franchise.

"We feel really good".



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