Owner Jeffrey Loria has agreed to sell the Miami Marlins to a group led by Derek Jeter and businessman Bruce Sherman. The price tag is at $1.2 billion, with Jeter allegedly using $25 million of his own money.
The investment group consists of about 16 investors, according to the Miami Herald, including former NBA superstar and Charlotte Hornets owner Michael Jordan. Barry Jackson at the Herald reports that Jeter will run the business and baseball sides of the organization, while Sherman will fill the role of managing partner.
This change of ownership may come as a form of relief to Marlins fans, as Loria has been widely criticized during his time as owner.