After a grueling few months, Derek Jeter is now part owner of a Major League Baseball team.
According to Clark Spencer of the Miami Herald, Jeter’s group officially purchased the Marlins for $1.2 billion.
Sherman will be the “control person” which is the same as a managing general partner, while Jeter will be the CEO. Jeter is contributing only $25 Million of his own money, but due to his relationship with Sherman, Jeter will essentially run the Marlins organization.
MLB officials are slated to meet next week in Chicago to discuss the sale. Sherman and Jeter are slated to meet with the ownership committee prior to the full vote of the owners. The vote is the final step in the sale’s completion.