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Once again, Miami Marlins owner Jeffrey Loria has an agreement in place to sell the franchise to an ownership group that includes Derek Jeter. Jeter and New York venture capitalist Bruce Sherman have reportedly agreed to purchase the club for $1.2 billion. The Marlins and Loria have not confirmed the agreement.
Loria, who is regarded by many as the worst owner in baseball (if not all of sports), has been looking to sell the Marlins for months now. Not surprisingly, it's not until after last month's All-Star Game that a firm sale agreement is in place. Loria reaped all the All-Star Game revenue and now will sell the team. It's what any smart businessman would have done.
Jeter is believed to be contributing only $25 million of his own money but has a great relationship with Sherman, who will allow Jeter to essentially run the organization.
Beyond Sherman, most of the other members of Jeter's group are smaller investments, with $5 million, $10 million and $20 million increments. Basketball superstar Michael Jordan is mostly lending his name, and is believed to be contributing no more than a few million dollars, if that.
Loria, who is regarded by many as the worst owner in baseball (if not all of sports), has been looking to sell the Marlins for months now. Not surprisingly, it's not until after last month's All-Star Game that a firm sale agreement is in place. Loria reaped all the All-Star Game revenue and now will sell the team. It's what any smart businessman would have done.
Jeter is believed to be contributing only $25 million of his own money but has a great relationship with Sherman, who will allow Jeter to essentially run the organization.
Beyond Sherman, most of the other members of Jeter's group are smaller investments, with $5 million, $10 million and $20 million increments. Basketball superstar Michael Jordan is mostly lending his name, and is believed to be contributing no more than a few million dollars, if that.
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