Owner agrees to sell Marlins to Jeter and Jordan group

Fantasy Baseball Breaking News

The Marlins: owned, in a way, by Derek Jeter.

Miami Marlins owner Jeffrey Loria is finalizing an agreement to sell the team to a group that includes former New York Yankees shortstop Derek Jeter for $1.2 billion, a source confirmed to ESPN on Friday.

The report claims Major League Baseball is expecting to receive a written agreement for the purchase by Friday.

Sherman will be the "control person", similar to a managing general partner, but Jeter will run the business and baseball side of the organization, according to the Herald. Jeter, while wealthy by baseball player standards, could not carry the majority of cost (he's reported to be contributing $25 million to the deal).

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Or he could just get many more opportunities to spend in Florida for "work reasons". Sherman, who is a NY businessman, is expected to invest the majority of the money involved in the bid.

The group purchasing the team has roughly 16 investors, including Michael Jordan. The reported sale price is $1.2 billion.

The Marlins are expected to lose more than $60 million this season, according to a source who has seen their books, in part because their revenues are among the lowest in Major League Baseball and in part because their $115 million payroll is the largest in franchise history. It is he who will be referred to as the team's owner. Fox Sports said Jeter will become the franchise's chief executive officer.

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