1. #1
    Mr KLC
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    Jeffrey Loria Agrees To Sell Marlins To Derek Jeter’s Group

    Evidently bringing an end to a long-running process, Marlins owner Jeffrey Loria has agreed to sell the franchise for $1.2 billion to a group featuring retired shortstop Derek Jeter, reports Clark Spencer of the Miami Herald.

    While it seemed months back that the Jeter-led outfit would land the club, that proved premature. Since, two other primary bidding groups have vied to take over from Loria — one led by Wayne Rothbaum, which dropped out recently, and another associated with Jorge Mas — with numerous twists and turns throughout.

    Now, it seems, there’s finally a clear course — though it’s worth emphasizing that nothing has been finalized. Major League Baseball is expected to receive the written agreement Friday, per Spencer, but an approval vote might not take place for several weeks — with a formal closing not likely to occur until early October.

    Jeter has long been the most visible member of his bidding group, and he’ll reportedly take primary responsibility for setting the course of both the baseball and business operations of the organization. But he’s not the primary money man and won’t be the formal control person vis-a-vis- the league.

    Rather, Bruce Sherman — the former chairman of Private Capital Management — will reportedly function as the control person while also footing the bulk of the bill to acquire the franchise. He’s said to be a Marlins fan who enjoys a “great relationship” with Jeter; no doubt, the two will work closely. Something like sixteen other investors are also part of the group, according to Spencer, including NBA legend Michael Jordan.

    Just what plans the Jeter/Sherman ownership outfit has in mind isn’t yet clear. But the current formula seems in need of some tweaking. The Marlins have failed to draw fans to the yard, despite a still-shiny (and heavily subsidized) ballpark. There’s a need to work out a new TV deal in the near future, with the team’s leverage perhaps dependent upon its ability to improve its seemingly tepid local support. That, in turn, may depend in large part upon an improvement in the on-field results; the club last posted a .500 record when it was still known as the Florida Marlins.

  2. #2
    44 Mag
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    So Jeter's investment is reported at $25 million, which amounts to what??? About 2%. He's going to lead the baseball operations, supposedly. I wish him luck turning this franchise around.
    Last edited by 44 Mag; 08-12-17 at 09:24 AM.

  3. #3
    slayer14
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    This is ridiclous

  4. #4
    jjgold
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    He put up pennies

    Always was a cheap guy

    He basically owns nothing

  5. #5
    MinnesotaFats
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    Sounds like Jeter is an active minority investor. Solid name to headline the front office thou, plus he's a full time FL resident which helps.

    The franchise has a pair of championships already and hasn't been a disaster season by season- usually in the 75-85 win range even in down years.

    I wish Jeter well- he'll figure out a way to sell the luxury boxes using himself as an asset, and the big money guy will buy or retain some talent to build a winner. The loss of JF last season was horrible but the team is on the verge of being legit again!

  6. #6
    Mr KLC
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    While the much-maligned Jeffrey Loria will soon hand off Marlins ownership to a group including Derek Jeter, the team’s spending habits aren’t going to change – at least not in the short term – says Ken Rosenthal of FOX Sports. The Marlins are in the red, losing tens of millions per year, and are in need of a new local television deal. Additionally, Rosenthal points out that Miami already has $95MM set aside for just eight players next season, and in his estimation, it would take roughly a $150MM payroll for the club to contend in 2018. Given the Marlins’ economic difficulties, they’re simply not in position to spend anywhere near that amount.

    Despite the franchise’s financial troubles, one thing Jeter & Co. can’t do is unload world-class slugger Giancarlo Stanton’s mammoth contract, opines Buster Olney of ESPN. Doing so would serve as an immediate public relations hit to the new ownership team because it would give off a “same old Marlins” vibe, Olney reasons. Stanton, who hit his major league-leading 42nd home run Sunday, has $295MM remaining on his deal. That, plus Stanton’s full no-trade clause, could prove to be roadblocks even if the Jeter-led faction tries to jettison the soon-to-be 28-year-old.

  7. #7
    eidolon
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    Someone is going to pay $1.2 billion for the Marlins?
    Isn't there average attendance at their games like 1,000

  8. #8
    Cuse0323
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    Good for Loria. He basically won the lottery getting away from that dump of a franchise. People in Miami do not care about sports. LeBron helped for a bit. Giancarlo can't do it for the Marlins, so not sure who can. No one cares about baseball there. Better off investing in a gay bar.

  9. #9
    Ralphie Halves
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    Best thing that could have happened to the Marlins. An ownership group that kind of sort of gives a shit is way better than what Loria was bringing to the table.

  10. #10
    Mr KLC
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    MIAMI (AP) — A person familiar with the situation says NBA Hall of Famer Michael Jordan has a small stake in Derek Jeter’s investment group that reached an agreement to buy the Miami Marlins.

    This had been rumored before, now a person confirmed Jordan’s role to The Associated Press on condition of anonymity Sunday because the parties involved have not commented.

    Jordan already owns the NBA Charlotte Hornets. He and Jeter have known each other for more than 20 years and are close friends.

  11. #11
    jjgold
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    I love how all these guys say they're close friends they probably see each other twice a year

  12. #12
    Mr KLC
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    David Samson will be out as Miami Marlins president once a proposed sale of the franchise to Derek Jeter and Bruce Sherman goes through, sources confirm.

    News of Samson’s ouster from that role was first reported by the Dan LeBatard Show on Twitter, and sources confirm its accuracy.

    A subsequent tweet from the LeBatard Show suggested that MLB commissioner Rob Manfred told other owners of the decision.

    Samson is now seen as not very likely to stay on in any capacity, people close to the situation say. Jeter had at some points signaled a willingness to retain Samson in some role, but it’s possible others in MLB felt a clean break was a better idea. It would be unusual for the team president from the former regime to stay on, in any case.

    Jeter will serve as a CEO/president role assuming a sale goes through, though some MLB people are encouraging the new group to hire an experienced baseball executive to the hierarchy.

    Samson, the team president since 2002, has been a controversial figure in South Florida and around MLB. The team had some high points, especially early, when it won the 2003 World Series, but low attendance and low revenues in recent years hurt the Marlins, who weren’t able to take advantage of a beautiful new ballpark, Marlins Park.

  13. #13
    jjgold
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    Jeter good figure head

    Clean
    No BS


    He should help

  14. #14
    lakerboy
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    Let's see how Jeter does. Guy is a fierce competitor.

  15. #15
    TheLock
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    They have to break the 14 year playoff drought.

    That has to be priority #1. People want to come out and watch a winner.

    And then just as important, no FIRE SALE the year after making the playoffs.

  16. #16
    dhristov211
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    jordan should play outfield

  17. #17
    eidolon
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    I don't understand how people don't go to Miami games. I thought there was a lot of money there. Seems like they just need a really good promotion team.b

  18. #18
    lakerboy
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    Quote Originally Posted by eidolon View Post
    I don't understand how people don't go to Miami games. I thought there was a lot of money there. Seems like they just need a really good promotion team.b
    I'm not sure why anyone would go to a ball game in Florida

  19. #19
    jose21_us
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    I love the low attendance I get great seat for dirt cheap.

  20. #20
    jjgold
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    It's really just too hot that's the problem in Florida regardless if it's indoors or outdoors just not baseball weather or environment

  21. #21
    TheLock
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    Quote Originally Posted by lakerboy View Post
    I'm not sure why anyone would go to a ball game in Florida

    Because they like baseball?

  22. #22
    Mr KLC
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  23. #23
    kmarinouofm
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    probably gone over this a million times but here it goes again.

    - Too much to do in Miami.. For a lot cheaper
    - Too many transplants .. you will see more mets fans or phillies fans at a game.
    - My generation that grew up with the team.. which should be it's core of fans.. feels slighted by Loria.. and the sell offs and etc that happened after 2003.
    - The Generation after us.. has just had shit teams year after year..
    - They have done nothing for the area.. the stadium was supposed to bring in new business and etc to the area.. the stadium has storefronts for rent on two sides of the 4. Yet they were never billed out.. and remain empty..
    - For a new stadium.. that cost us a fuk ton its not great.. the view of downtown is cool.. but the best part of the stadium is center field / budweiser bar .. food is subpar overall.. there is a "taste of miami" area that has local miami spots.. but the problem with this is that its usually twice what you pay for it at the actual location.. and it's never as good.. Perfect example is the pork sandwich.. its from this really famous place in miami.. sandwich is like $6 for a footlong.. and is amazing.. at the stadium.. its like $8 or $9 for a 1/3 of the size.. so shit like that bothers locals when they see it..
    - Loria was absolutely toxic for the team.. companies stayed away from the team.. so luxury seating is basically wideopen.. they tried to create all these high end accommodations but they didn't deliver on it fully.. this alienated their high end fans and in many cases people walked away from commitments.. which then lead to Loria.. suing his own fans..

    I was a season ticket holder for the first two seasons in the new stadium.. i went to shit ton of games.. I lived in new building that was built during the stadium 4 blocks away.. so I really wanted this to work for us.. but it just really hasn't.

    Another failure of the stadium and franchise is they haven't done shit to bring more events to the stadium or events..
    There has been very few events there outside of baseball..

    I can keep going.. but this is the bulk of our issues..

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