Sports

Derek Jeter's Group Buying Marlins For $1.2 Billion

Derek Jeter's Group Buying Marlins For $1.2 Billion

Retired financier Bruce Sherman, who along with Yankees icon Derek Jeter was the winning bidder to purchase the Miami Marlins franchise, has been in contact with Jorge Mas, the Miami businessman who was the second-place finisher for the team, about joining the group, sources say.

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.

Samson, who confirmed the purchase price of $1.2 billion, said Saturday that the deal will be voted on in September and if passed it would be signed in October. But Jeter likely will be the face of the franchise and will run the baseball and business operations.

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

Opposition parties to meet Friday
Janata Dal-United leader Sharad Yadav has been invited for the meeting. Congress Party is seeking to mount a united fight against the BJP .

Sherman spent much of his financial career in NY and has a home in Naples, Florida. And while the Marlins have struggled and are losing money, Loria was still able to sell them for the second largest amount ever paid for a Major League Baseball franchise. The Jeter-Sherman group beat out two other groups that pursued the team in the final weeks of negotiations.

"So Jeter's going to run the Marlins, huh?" "Glad they're not in our league". 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.

"I think time will show that through thick or thin, his commitment to Miami never wavered", Samson said.


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