Derek Jeter's Group Buying Marlins For $1.2 Billion

Derek Jeter's Group Buying Marlins For $1.2 Billion

Miami Marlins owner Jeffrey Loria has reached an agreement to sell the team to a group headed by former Yankees shortstop and Kalamazoo native Derek Jeter for $1.2 billion.

The person confirmed the Friday night signing to The Associated Press on condition of anonymity because the Marlins have not confirmed the agreement.

An investment group led by a NY businessman and Players Tribune editor-in-chief Derek Jeter has made the winning bid to buy the Miami Marlins, according to multiple reports.

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According to the Post, Jeter's interest in being a team executive is fueled by a desire to one day buy a franchise on his own, much like how Jordan was a Washington Wizards executive and then eventually bought the Charlotte Bobcats. But Jeter likely will be the face of the franchise and will run the baseball and business operations. At least 75 percent of the major league clubs must approve the sale, a process that could take three to six months. "[Jeter] has a great relationship with Sherman, who will allow Jeter to essentially run the organization". "I love it here". Loria chose to sell the team for personal reasons. The Jeter-Sherman group beat out two other groups that pursued the team in the final weeks of negotiations. "Glad they're not in our league".

But Samson defended Loria, who has owned the team - now in its 25th season - longer than predecessors Wayne Huizenga or John Henry combined. "And it was hard to say that about previous owners".

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