Looks Like Derek Jeter Will Be Part Owner Of The Miami Marlins After All
By Ryan Velez
You may recall a series of articles earlier this year where we discussed the ongoing situation regarding the ownership of the Miami Marlins MLB Team. At first, it appeared that a combination of baseball legend Derek Jeter and former governor Jeb Bush would come together to buy the team, Jeter’s presence would be something that fans would hope would give the team a shot in the arm. Then reports came that the deal fell through, and things were quiet for a while. Now, Celebrity Net Worth reports that after months of rumblings, Derek Jeter will be a part of the ownership team after all, though other details have changed.
Marlins owner Jeffrey Loria has agreed to sell the franchise for $1.2 billion to a group led by Jeter and New York businessman Bruce Sherman. At this point, it was well known that despite Jeter’s interest, he didn’t have the funds to buy a controlling interest in the team outright, and it looks like Sherman is the partner that he needed to get to the next step.
The 69-year old Sherman will be serving as the “control person” for the team, looking to build a home in South Florida so he can likely keep a closer eye on operations. Sherman isn’t a stranger to the Marlins or the area. He has been a fan of the team and was once the chairman and chief investment officer of Private Capital Management in Naples. Jeter himself put up $25 million of his own money, which only counts for 2% of the team. However, his friendship with Sherman will likely be a key part of the team’s operations, as he will be handling the business and baseball side of things.
In one unexpected turn, another famous athlete is part of the 16-investor group: Michael Jordan. As another friend of Jeter, it’s not completely out of left field that Jordan would contribute, but it’s unknown exactly how much that amount was. Jordan will still remain the principal owner of the Charlotte Bobcats.
Despite the flurry of news, there are still a few things that need to take place before the reins are officially handed over. MLB officials will discuss the sale next week during meetings in Chicago, but the official vote won't happen for at least a month. The group is expected to finally close during the first week of October, none too soon for tired Marlins fans who are ready for any type of change.