Derek Jeter's Group Buying Marlins For $1.2 Billion

Derek Jeter has tentative deal to buy the Miami MLB Team

Miami Marlins president David Samson confirmed that the team has reached a sales agreement with a group that includes Derek Jeter.

The Sherman-Jeter group signed their deal for $1.2 billion to buy the team from Jeffrey Loria Friday night, as FanRag reported.

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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. The person said Major League Baseball has been told the sale price will be about $1.2 billion to the group, which includes more than 10 entities.

Sherman, who will be the controlling owner, spent much of his financial career in NY and has a home in Naples, Florida. They'll discuss the Marlins next week in Chicago at a meeting but aren't likely to vote on the matter for another few weeks. Jeter is investing $25 million of his own money and will run the baseball side of the operation. Sherman has spent much of his financial career in NY and has also lived in Naples, Florida.

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Talks between Sherman, Jeter and Loria have been ongoing for months. If that was not problematic enough, the Marlins have ranked bottom in attendance for 11 of the last 12 seasons despite playing in a major American city.

Loria's decision to sell the team became public in February, and Jeter's interest emerged in April.

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In a 2014 interview with Jack Curry of the Yes Network, Jeter called owning a team "the next ultimate goal", and that he wanted to be the guy "that calls the shots".

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