Miami Marlins Selling to Derek Jeter for $1.2 Billion

By Staff  |  08/15/2017

Derek Jeter

It looks like retired MLB legend Derek Jeter is headed for team ownership.

According to ESPN, Miami Marlins president David Samson has signed an agreement tell sell the franchise to a group that includes Jeter for $1.2 billion.

The agreement has been submitted to the MLB. From there, the MLB ownership committee will review the transaction, where other league owners will vote to approve the deal in September, with closing to follow in early October.

As for Jeter, he is a limited partner in the group led by venture capitalist Bruce Sherman, who will be the controlling owner. Jeter will be in charge of the business and baseball operations, Samson tells ESPN.

"I've gotten to know him through this process," Samson said. "He's an incredibly interesting, articulate, smart, contemplative individual. Forget about Hall of Famer. It's not about that. It's about his ability to run a team and his desire to run a team, and it just came through so clearly what he wanted."

Current Marlins owner Jeffrey Loria publicly revealed his decision to sell the team in February. Shortly after, Jeter's group showed interest... and beat out two other groups.