By Anthony Caruso III | Publisher
Derek Jeter was known as an iconic member of the New York Yankees. The famed former shortstop is now the owner of the Miami Marlins.
Jeter’s group has been in and out of the mix for the Marlins. He, along with his investors, bought the franchise from Jeffrey Loria.
His group includes Charlotte Hornets owner and NBA great Michael Jordan. Jeter was a member of Jordan Brand when he was a player.
The team has reportedly purchased the franchise for $1.2 billion. Jeter’s group was considered the front-runners from the onset.
New York businessman Bill Sherman will be considered the main owner. Jeter is expected to run the business and baseball operations.
The official transaction is expected to be voted on next week at the MLB owner’s meeting in Chicago.
Jeter reportedly contributed $25 million of the sale. Loria bought the franchise in 2002 for $158.5 million from John Henry, who is presently the Boston Red Sox owner.
The Marlins have not reached the playoffs in 14-years. They won the World Series in 2003, their last playoff appearance, which is the longest drought in the National League.
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