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Loria sells the Miami Marlins


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Loria agrees to sell Miami Marlins to Sherman and Jeter group for $1.2B, sources say

 

Miami Marlins owner Jeffrey Loria has agreed to sell the franchise for $1.2 billion to a group led by New York businessman Bruce Sherman and former New York Yankees star Derek Jeter, and Major League Baseball is expected to receive the written agreement on Friday, according to a New York based MLB source.

The Sherman/Jeter group has about 16 investors and they have raised the money to purchase the team after months of seeking investors to meet Loria’s asking price, the source said.

 

Among the other investors: former NBA star Michael Jordan, who’s a friend of Jeter.

 

A purchase agreement with the Sherman/Jeter group, which has been worked on for months, is expected to be completed on Friday and submitted to MLB offices in New York.

Jeter is believed to be contributing only $25 million of his own money but has a great relationship with Sherman, who will allow Jeter to essentially run the organization.

 

MLB officials are expected to discuss the sale, but not vote on it, in owners meetings in Chicago next week. Sherman and possibly Jeter are expected to meet with the ownership committee prior for a full vote of owners, which is the final required step for the sale’s completion.

 

The vote could be weeks away, with closing expected the first week of October.

 

finally done, no Jeb! though...fuck off, loria.

ps panch's dan lebtard show is gonna be crazy monday, i imagine

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