The Miami Marlins are one step closer to being sold. Word got out Friday that a group led by future Hall of Famer Derek Jeter and New York venture capitalist Bruce Sherman have reached an agreement to purchase the team. The reported sale price is $1.3 billion. It should be noted the sale is not final. They still need to get approval from MLB and work out other details.
According to Barry Jackson of the Miami Herald, Sherman will have controlling interest in the Marlins, meaning Jeter will be a minority owner. Here are some more details:
Sherman, a wealthy venture capitalist who has a home in New York and is building a home in South Florida, will be the "control person," similar to a managing general partner.
But Jeter, the former New York Yankees star shortstop, will run the business and baseball sides of the organization, the source said.
Jeter, 42, made it no secret later in his playing career that he would like to one day own a team. He'll now get the opportunity to do exactly that with the Marlins even though he won't be the "control person," per Jackson's report.
So the question becomes what does Jeter bring to the table as an owner? He's never owned a team before or worked in a front office, so this will all be new to him. And until you see someone out there doing it, it's impossible to know how exactly they will respond.
There is one thing Jeter will unquestionably bring the Marlins: star power and name recognition. I suppose that's two things, but you know what I mean. Jeter is one of the most recognizable athletes in the world, and while he won't be on the field daily, he will be associated with the franchise, and that is nothing but a positive for the Marlins.
Jeter's role figures to be very similar to Magic Johnson's role with the Dodgers. Johnson is a minority owner with the Dodgers -- the Guggenheim Partners own controlling interest in the team -- but he is essentially the face of the ownership group. He's at all the press conferences and on-field ceremonies. Why? Because, like Jeter, he is one of the most recognizable athletes in the world.
It's unclear how the Marlins will structure their front office under the Sherman-Jeter group, and that situation may not become clear for months. Jeter grew up under George Steinbrenner, the most meddlesome of owners. Will he take a similar approach with the Marlins or be more hands-off?
Jeter certainly knows baseball. Does he know how to evaluate talent and interpret statistical data, though? That's different than playing shortstop.
Any baseball knowledge Jeter brings to the table is a plus. His main function with the Marlins will be adding legitimacy and star power to an ownership group that inevitably will be more popular than Jeffrey Loria. Loria is that despised in South Florida. Sherman may be the one calling the shots, but Jeter is the one who will be front and center representing the Marlins once the sale is final.
