Derek Jeter-Led Investors Group Purchases The Miami Marlins

Jeter poised to take the next step

Derek Jeter-Led Investors Group Purchases The Miami Marlins

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 club has not confirmed the reports, although ESPN said the deal is likely to be announced "in the coming days".

Talks between Sherman, Jeter and Loria have been ongoing for months.

The Sherman led group, which includes Michael Jordan the former great of the National Basketball Association, beat out a contingent that Jorge Mas a Miami businessman led. In addition to Jeter, the ownership group has an athletic dimension thanks to a stake from Michael Jordan, who invested an unknown amount of money with the group.

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Jeter resides in Tampa and has long had interest in owning a franchise. Jeter is expected to have a title such as CEO or team president and have active involvement, though his relatively low personal investment - $25M according to sources - would not qualify him to be designated as the control person by Major League Baseball.

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

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