Published: Sun, August 13, 2017
Sports | By Nelson Rowe

Marlins sign agreement to sell to Jeter group

Marlins sign agreement to sell to Jeter group

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

The Miami Herald first reported that Marlins owner Jeffrey Loria had agreed to sell the team for $1.2 billion on Friday evening, to a group led by investor Bruce Sherman and the former Yankee shortstop.

The Sherman led group, which includes Michael Jordan the former great of the National Basketball Association, beat out a contingent that Jorge Mas a Miami businessman led.

Jeter, who is 43, retired following 20 seasons with the Yankees. "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.

Jeter invested $25 million and is expected to take on the role of team president or CEO.

Others have pointed out that there is a major difference between being good at playing sports and being good at running a sports team, using the example of Michael Jordan and his ownership of the Charlotte Bobcats/Hornets. There is also how Loria managed to get the city of Miami to essentially give him hundreds of millions, according to Deadspin, to build a new baseball stadium in 2012.

Derek Jeter and Micheal Jordan will always have mad love for the game of baseball. A person familiar with the agreement said Friday the Jeter-Sherman group includes more than 10 entities.

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

Loria announced in March his intention to sell the team.

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