MLB Source: Jeter and Jordan Group Ready to Buy Marlins

MLB Source: Jeter and Jordan Group Ready to Buy Marlins

Talks between Sherman, Jeter and Loria have been ongoing for months.

Jeter resides in Tampa and has long had interest in owning a franchise.

Miami Marlins owner Jeffrey Loria has agreed to sell his team for $1.2 billion to a group that includes former New York Yankees star Derek Jeter and businessman Bruce Sherman, according to Barry Jackson of the Miami Herald.

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Jeter, who is 43, retired following 20 seasons with the Yankees.

Jeter invested $25 million and is expected to take on the role of team president or CEO. After winning the World Series in 2004, the Marlins have won zero playoff series since then and have been in the cellar of the National League most of the time. The deal will still have to approved by three-quarters of baseball's owners. "Forget about Hall of Famer, it's not about that, it's about his ability to run a team and his desire to run a team, and it just came through so clearly what he wanted", Samson said of Jeter.

Sherman is being designated the control person, but he's 69 and it isn't clear how much day-to-day involvement he seeks. Furthermore, other ownership groups attempted to purchase the Marlins earlier, only for the agreement to fall through for various reasons. Jeter is expected to have a title such as CEO or team president and have active involvement, though his relatively low personal investment - $25M according to sources - would not qualify him to be designated as the control person by Major League Baseball.

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