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Derek Jeter, other Marlins owners seeking cash infusion, report says

Marlins owner Derek Jeter talks to reporters during

Marlins owner Derek Jeter talks to reporters during a news conference on Oct. 3, 2017, in Miami. Credit: AP / Alan Diaz

Derek Jeter and his fellow new Miami Marlins owners are beginning their administration by seeking more partners and an influx of cash, according to a document obtained by FanRag Sports.

Jeter’s group paid $1.2 billion for the franchise, which has been roiled with financial troubles throughout most of its existence. But the group, which also features Florida businessman Bruce Sherman, apparently would like more operating capital. FanRag Sports’ Jon Heyman reported that an email titled “Project Citrus” is offering potential new investors the chance to back the club.

The report indicated that the email did not specify a target amount, but Heyman reported that two people familiar with related emails said the figure is about $250 million. The “Project Citrus” initiative is said to point out the potential that the team can reach with “proper management.” The email reportedly refers to “mistakes” made by the previous ownership, including the somewhat positive comments about Cuba’s Fidel Castro by former Marlins manager Ozzie Guillen.

In the email, the former Yankees shortstop’s group promises “a new start for the franchise and a core focus on effectively engaging the entire fan base . . . targeting millennials” adding that the goal is to improve the fan experience and provide “more value per ticket.”

The club is reportedly intent on dealing superstar Giancarlo Stanton in an offseason marked by changes on many levels. On Wednesday, Fox Sports Florida, which televises Marlins games, announced that Jeff Conine, a former player known as “Mr. Marlin,” and fellow broadcasters Rich Waltz and Preston Wilson will not return for 2018.

New York Sports