Jeffrey Loria Agrees To Sell Marlins To Derek Jeter, Bruce Sherman Group

Solenn Plantier
Août 12, 2017

Jeter and Jordan (along with NY businessman Bill Sherman) are a part of the 16 investors looking to purchase MLB's Miami Marlins. The club has not confirmed the reports, although ESPN said the deal is likely to be announced "in the coming days".

The Sherman-Jeter group, which also includes former National Basketball Association great Michael Jordan, beat out a contingent led by Miami businessman Jorge Mas.

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

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. Quogue Capital founder Wayne Rothbaum, who led a third group that included former Florida Gov. Jeb Bush, dropped out of the bidding earlier this week.

Jordan increased his stake with the Hornets from holding a minority share to a majority stake in 2010, at which the team at that time was estimated to be worth $275 million. He funded his purchase through the sale of the Montreal Expos to Major League Baseball for the price of $120 million and covered the remaining $38 million through a loan by Major League Baseball.

Loria has owned the team since 2002 and won the 2003 World Series by defeating the Jeter-led Yankees.

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