Group headed by Derek Jeter to buy Miami Marlins

Jeter poised to take the next step

Derek Jeter-Led Investors Group Purchases The Miami Marlins

A person familiar with the negotiations says the Miami Marlins have told Major League Baseball they intend to sign an agreement to sell the team to a group that includes former New York Yankees star Derek Jeter.

The deal which had been reported on Friday, is worth $1.2 billion and it includes a number of investors along with Jeter. There could be moves made this off-season, if the ownership group is approved by Major League Baseball.

"I learned a lot from [Steinbrenner] on how to run an organization", said Jeter. Bush. Jeb! and Jeter were originally in on an effort to buy the team together, but that attempt fell apart in a power struggle when Jeb! realized that Jeter wanted to run the business and baseball sides of the franchise.

The Miami Herald ran a story first about the agreement between the group that is headed by Bruce Sherman, a venture capitalist in NY and Loria. In addition to Jeter, the ownership group has an athletic dimension thanks to a stake from Michael Jordan, who invested an unknown amount of money with the group. "I love it here".

Loria's decision to sell the team became public in February, and Jeter's interest emerged in April. Although one hasn't played in decades and the other recently retired, both appear to be coming back to the diamond, this time as part-MBL franchise owners.

The Marlins are not contending for a playoff spot now, but could be a playoff team next season with the right additions.

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