Miami Marlins fans may finally be rid of one of the worst owners in baseball history.
Miami businessman Jorge Mas was considered to be a front runner for the team, but he apparently refused to meet Loria's original asking price of $1.3 billion. The Miami Herald's Barry Jackson reports that the Marlins are expected to lose over $60 million this year, have the cheapest TV contract in the league, and are routinely at the bottom of the league standings in attendance. The Jeter-Sherman group has about 16 investors that have raised money to purchase the team, according to the Herald. In all, there are about 16 investors in their group, including National Basketball Association legend Michael Jordan.
The aforementioned Loria is a noted New Yorker and has always appeared to prefer Jeter, who of course spent his entire big league career as a member of the heralded New York Yankees. Sherman, a New York-based businessman, will be the controlling owner. The sale requires approval of 75 percent of teams.