The Miami Herald reports that Miami Marlins owner Jeffrey Loria has agreed to sell the team for $1.2 billion to a group led by New York businessman Bruce Sherman and, more interestingly for baseball fans, former Yankees star Derek Jeter. There are over a dozen other investors as well.
The Herald reports that Major League Baseball is supposed to receive the formal agreement today.
While Jeter has gotten all of the press until now, Sherman, a venture capitalist, is the money man and will be the “control person,” which is MLB’s term for the owner who makes all the decisions for the club. It is he who will be referred to as the team’s owner. 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). He’ll be in charge of business operations and baseball operations, the Herald reports. How hands-on he will be remains to be determined.
The Marlins: owned, in a way, by Derek Jeter. Managed by Don Mattingly. I wonder what a Yankee fan in a coma since 1999 would think about such a thing.