Miami Marlins owner, Jeffrey Loria, has agreed to sell the franchise to a group of investors, led by venture capitalist, Bruce Sherman, and former Yankees shortstop, Derek Jeter for $1.2 Billion. Sherman will be the “control person”, while Jeter, who only put up $25 million of his own money, will run business and baseball operations for the organization. Jeter has his work cut out for him. The team is expected to lose $60 million this season, with the league’s worst TV deal and among the lowest attendance in all of baseball. On the field, the Marlins haven’t made the playoffs since 2003. The deal, which must be approved by 3/4 of MLB owners is expected to be voted on in early October.

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Loria agrees to sell Miami Marlins to Sherman and Jeter, source says

Howie Long-Short: Forbes valued the team at $940 million. Jorge Mas wasn’t going over $1.1 billion. I’m surprised by the winning number.

Fan Marino: Rumors are circulating that the Jeter group may remove the home run sculpture in left center field. I was a regular attendee at games during the ’12 season. Never has something brand new seemed so outdated from the start.

Author: John Wall Street

At the intersection of sports & finance.

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