After a Cooperstown-worthy playing career in the Bronx, it appears that Derek Jeter will pursue a sixth World Series ring as the next chief executive officer of the Marlins.
Team owner Jeffrey Loria reportedly has accepted the $1.2-billion bid of the group headlined by the former Yankees captain. Jeter spent the past few months rounding up investors to meet Loria’s asking price, and that finally came together Friday with New York venture capitalist Bruce Sherman putting up the majority stake, according to multiple reports.
The Miami Herald was first with the details of the agreement, which will have to be voted on by the other 29 owners. The deal needs 75 percent approval, but with the commissioner’s office seemingly in Jeter’s corner all along, that shouldn’t be an issue.
Jeter’s pursuit of the Marlins has been ongoing since the season began. There were indications that he had the inside track as early as May before former Florida Governor Jeb Bush dropped out of his ownership group and later joined another.
The Yankees were unavailable to comment before Friday night’s series opener against the Red Sox. Their reaction isn’t likely to be much different from what it was in April, when many were asked about the possibility of Jeter being part owner of the Marlins.
“He’s a guy, no matter what he’s involved in, he’s going to be successful,” Brett Gardner, a teammate of Jeter’s from 2008-14, said at the time. “I’m excited for him.”
Jeter reportedly is one of approximately 16 investors, a collection that also includes former NBA great Michael Jordan, who recently came on board when Jeter was in the recruiting process. The Miami Herald reported that Sherman will have control of the Marlins and that Jeter — who is investing roughly $25 million himself — will handle the baseball and business operations.
It’s a mammoth undertaking for a rookie CEO, and history has shown that success it not necessarily guaranteed in these transitions.
“Great players don’t always translate to great executives, as we’ve seen,” CC Sabathia said in April, “so we’ll have to wait and see what happens for him. Like I said, he’s wanted to do this, he’s very capable of doing this. We’ll have to see how it plays out . . . but I think Jete has a lot to offer. So of course I think it’s great for the sport.”