Wednesday afternoon, MLB announced the owners have unanimously approved the sale of the Miami Marlins from Jeffrey Loria to an ownership group led by Derek Jeter and Bruce Sherman. The vote was held Wednesday via conference call.

"I wish the best to Jeffrey Loria and David Samson," said commissioner Rob Manfred in a statement. "During their tenures, the Marlins won the 2003 World Series, hosted this season's successful All-Star Week at spectacular Marlins Park and eagerly supported our efforts to grow the game internationally. I congratulate Mr. Sherman on receiving approval from the Major League Clubs as the new control person of the Marlins and look forward to Mr. Jeter's ownership and CEO role following his extraordinary career as a player."  

Loria released the following statement Wednesday afternoon:

MLB says the sale is contingent on the "closing of the sale transaction with the current owners of the Marlins," which is expected to happen in the coming days. Sherman and Jeter will take control of the team at that point.

Sherman is the Marlins' new control person while Jeter will run the baseball operations. He is reportedly already planning big changes, and there's talk the team will cut payroll next season to get their finances in order.

Loria purchased the Marlins for $158.2 million back in 2002. The team was sold to Sherman and Jeter for a reported $1.2 billion.