As first reported by The Miami Herald on Friday, a source confirmed that Miami Marlins owner Jeffrey Loria agreed to sell the team to a group led by Derek Jeter and Bruce Sherman for $1.2 billion.
Sherman, 69, is a wealthy New York businessman who’s building a home in South Florida. He’ll be the “control person” of the group while Jeter, 43, will serve as CEO running the business and baseball operations.
NBA legend Michael Jordan, 54, was reported to be another investor in the group—it’s no secret that him and Jeter are very close friends.
According to The Miami Herald, there are “about” 16 investors in the Jeter/Sherman group with Jeter “believed to be” contributing $25 million of his own money.
Loria, 76, has been the owner of the Marlins franchise since February 12, 2002. Since winning the 2003 World Series to Jeter and the New York Yankees, the team hasn’t made a single playoff appearance. In addition, they haven’t had a winning year since 2009.
The Miami Herald reported in December 2016 about Loria’s willingness to a potential sale. A purchase agreement with Jeter’s group was completed on Friday after several months and sent to the MLB offices in New York.
According to MLB.com, Loria’s preference from the beginning of the process was to complete the sale to a group that included Jeter.
A vote is the final step for completion of the sale, which is expected to take place in October between owners of other MLB teams.
What a big step this is for Jeter, as he joins a large and growing list of professional athletes turned owners. The future 2020 first-ballot MLB Hall of Famer—and possibly first ever unanimous vote to the Hall—can definitely turn this Marlins franchise around with the knowledge and experience he brings.
Jeter’s 3,465 career hits are the sixth most in Major League history, spanning a 20-year career with the Yankees from 1995-2014.
Here’s a look at his other Hall of Fame credentials:
Will Jeter look to rebuild the Marlins, or build around a talented young core that includes the likes of Giancarlo Stanton, Christian Yelich, and Marcell Ozuna? It will be interesting to see what Jeter does with the franchise going forward.
With Monday night’s win, Miami improved to 57-60 on the year.
Derek Jeter Discusses Project Wolverine Plan For Miami Marlins
Miami Marlins CEO and part-owner Derek Jeter has taking a beating publicly since taking over the team as fans have slammed the new regime for their cost-shedding moves.
However, Jeter sees the franchise becoming profitable as soon as this season, according to documents obtained by the Miami Herald.
Project Wolverine, a nod to Jeter’s native Michigan, is Jeter’s attempt to prove to potential investors that the franchise will turn a profit immediately.
Decreased payroll coupled with increased revenue from ticket sales, corporate sponsorships and a revamped local TV deal, as well as a one-time payout of $50 million that each MLB franchise will receive this season, will carry the moribund franchise to profitability, according to the Miami Herald’s report.
The Marlins have shed $36 million from their 2018 payroll in the 1st phase of Project Wolverine.
“I can’t sit here and say trust me,” Jeter told Marlins fans during a heated and emotional town hall meeting back in December.
“You don’t know me. You earn trust over time. I know how organizations are sustainable over time. I know you have been through a lot. I can’t relate to it. It’s going to be a tough road. It’s going to take time and effort.”
The Herald outlines a number of hurdles that may stand in the way of Jeter’s lofty goals.
“We are going to invest in building this organization the right way so we can, year in and year out, be able to compete,” Jeter said back in December.
“We are trying to fix something that is broken.”
Bashing Together In DC: The Nationals Should Go All-In For Stanton
Since moving to Washington, D.C. the Nationals have been one of baseball’s more aggressive franchises. Under the ownership of Ted Lerner they have never been shy about making the bold moves necessary to bring a winning team to the nation’s capital.
They have signed Max Scherzer to what was then the largest free agent contract ever given to a pitcher.
The handed Stephen Strasburg a $175 million extensions to avoid the open market and stay in D.C.
Along with everyone else they had on the books in 2017 the Nationals exceeded the luxury tax for the first time.
And yet, NOW is the time for the franchise to go ALL-IN!
The upcoming season represents a make or break year for the franchise—or at least a transition year. They have won 95+ games in four of the last six seasons, yet haven’t made it passed the division series.
The 2019 team could be vastly different. They stand to lose several veterans including franchise player Bryce Harper, offensive standout Daniel Murphy, starter Gio Gonzalez, and shutdown setup reliever Ryan Madson to free agency.
While the Nationals’ farm system is well-prepared to restock the major league team, prospects, no matter how highly touted, are never sure things. Washington needs to operate as if 2018 is their best (and only) chance to win a World Championship.
They need to cash in their chips, go all-in, and make the Marlins an offer they can’t refuse.
The Nationals NEED to get Giancarlo Stanton.
On the surface the idea seems ludicrous. Trading for Stanton, especially from division rival Miami, would require a massive haul of prospects. Washington would likely be able to hang onto prize prospect Victor Robles, but anyone else would be up for grabs for the Marlins.
Then there’s Stanton’s contract to consider. His salary alone would blow their budget, pushing Washington deeper into the luxury tax than ever before. It would be an extremely expensive transaction to make.
Nearly a third of those dollars belong to Harper, who undoubtedly will leave Washington for much greener pastures. That is why acquiring Stanton NOW, despite all the hurdles, makes so much sense. It would be a preemptive strike, aiming at keeping their window of contention wide-open.
Either Stanton or Harper can man left-field for a year, and together they could mash their way into bringing that elusive World Championship back the D.C. Then when Harper leaves Stanton can slide into the face-of-the-franchise role.
It would be a huge risk. It might backfire. The cost in prospects is going to sting. And for years the Nationals have been robbing Peter to pay Paul, deferring tens of millions of dollars.
Regardless of how their TV contract/lawsuits go, those bills are going to come do. And it could bankrupt the franchise. But that’s not enough of a reason to not bring the game’s best slugger to the nation’s capital.
A parade down Pennsylvania Avenue would look pretty sweet next fall, and help everyone forget about the cost.
Giancarlo Stanton On Monster Home Run Surge For Marlins, Has Chance To Make History
With yet another blast on Sunday afternoon, it was the ninth homer in 10 games for Miami Marlins slugger Giancarlo Stanton, and fourth straight game with one.
The 6’6” outfielder now has 42 home runs on the season, a Major League best and career high. Stanton’s currently tied with Gary Sheffield (1996) for the franchise’s single-season home run record.
Earlier today, Stanton was named the NL Player of the Week. It was the fifth such honor of his career and first since July 2016. In the week spanning August 6-12, Stanton hit .333 with six homers and 11 RBIs in seven games.
Stanton, 27, now has 250 career home runs—the most in Marlins history, and 27th most among active players.
In 12 August games, Stanton’s hitting .356/.420/1.022 with nine homers and 17 RBIs. This month’s surge started with a two-home run game against the Atlanta Braves on August 4. At the time, it was Stanton’s fifth multi-home run effort in his last 24 games, and first home run since July 26.
Since July 5 spanning 33 games, Stanton’s gone deep 21 times. Last night, ESPN displayed a graphic showing how this recent surge compares to others in recent memory:
Sammy Sosa finished 1998 with 66 blasts, and Barry Bonds finished with the record of 73 in 2001. Any time you’re getting compared to some of the elite home run seasons of all-time? Definitely worth noting.
Currently, ESPN projects Stanton to finish the year with 59 home runs. This would be the most in MLB in a season since 2001, when Bonds and Sosa (64) surpassed that total. He’s also on pace to finish the season with about 380 total bases, but that number could increase down the stretch if he keeps this up. Stanton’s got a serious push for a 400 total base season, something that’s been done 29 times in MLB history. Of those seasons, eight have come since 1978, and it was done last in 2001 when four accomplished the feat.
Colorado Rockies outfielder Charlie Blackmon is on pace to finish the season with just over 400 total bases. His 291 total bases currently leads the majors.
Just like his 42 home runs, Stanton’s .635 slugging percentage is best in the bigs right now. In addition, he’s second in total bases (271), tied for fourth in RBIs (90), fourth in runs (88), and seventh in OPS (1.006) in MLB at the weekend’s conclusion.
Stanton will be back in action tonight as the Marlins begin a three-game home set with the San Francisco Giants.
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