MLB owners approve sale of Marlins to Derek Jeter group

MIAMI The Miami Marlins are Derek Jeter’s problem now.

Major league owners on Wednesday unanimously approved the sale of the woebegone franchise by Jeffrey Loria to an investment group led by Jeter and Bruce Sherman. The deal needed 75 per cent approval.

A signed $1.2 billion agreement was submitted to Major League Baseball last month to sell the Marlins to a group led by Sherman, a venture capitalist who will be the controlling owner. Jeter, the former New York Yankees captain, plans to be a limited partner in charge of the business and baseball operations.

The closing on the sale is expected within a few days.

“I congratulate Mr. Sherman on receiving approval from the Major League Clubs as the new control person of the Marlins,” Commissioner Rob Manfred said in a statement, “and look forward to Mr. Jeter’s ownership and CEO role following his extraordinary career as a player.”

The Marlins have endured another disappointing year and are assured of their eighth consecutive losing season, the longest streak in the majors. They’ll sit out the playoffs for the 14th year in a row, the longest streak in the National League.

They’re also likely to finish last in the NL in attendance for the 12th time in the past 13 years, creating revenue constraints that may lead to a payroll purge in Jeter’s first off-season as an owner.