Derek Jeter just went from playing in the world’s biggest fishbowl to owning the world’s biggest fishtank.
A group led by Jeter and billionaire Bruce Sherman reached an agreement on Friday to buy the Marlins from current owner Jeffrey Loria, the Miami Herald reported. Michael Jordan, the NBA Hall of Famer and one-time minor leaguer, is also part of the winning group.
Sherman, who made his money in venture capital, is putting up the bulk of the money while Jeter puts up $25 million. He’ll be the money man while Jeter will run the day-to-day baseball operations and on-field decisions. The agreement is verbal now, and MLB was expected to receive the written agreement later on Friday.
MLB owners will discuss the sale at next week’s owners meetings, but will not vote on the sale until later. The sale must receive approval from the rest of baseball’s owners before the sale can become final.
Jeter had been involved with the bidding throughout the process in different formats, including as part of a group with failed presidential candidate and former Florida governor Jeb Bush.
Jeter played 20 seasons with the Yankees and helped the team win five World Series before retiring in 2014. He was the 28th player in history to record 3,000 hits and had long mentioned in interviews the desire to own a team after his playing career was over.
Once everything is final, he can check that off of his list.