[Update 9/27/17] It took more than a month to get final approval, but according to the Associated Press, Derek Jeter and his ownership group have officially succeeded in buying the Marlins, as the rest of Major League Baseball’s owners approved them.
Derek Jeter’s Marlins’ ownership group approved by MLB
Jeffrey Loria approved Jeter and Co., and now the rest of MLB’s owners have done the same.
Photo by Al Bello/Getty Images
After a months-long bidding process, multiple interested parties, and a seesaw of odds as far as who the victorious group would be in the end, the Miami Marlins finally have a deal for new ownership.
Current owner Jeffrey Loria has reportedly agreed to sell the team for $1.2 billion to the New York-based group of Derek Jeter and and businessman Bruce Sherman.
According to an MLB source sited by the Miami Herald, the league is expected to receive the written agreement on Friday in order to process and approve it.
As things stand Jeter is expected to “run the business and baseball operations” side of things, and there are a total of 16 investors in this group of buyers.
Despite the fact that Jeter is only putting about a $25 million chunk of his personal money into the bid, his relationship with Sherman is allegedly the reason he will get to primarily run the team and make the decisions.
The Marlins haven’t made the playoffs since 2003, so this could end up being Jeter’s opportunity to turn things around and play Baseball God with a team that isn’t making much of an impact right now.
Or he could just get many more opportunities to spend in Florida for “work reasons.”
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