AP sources: own­ers ap­prove sale of Mar­lins to Jeter group

Truro Daily News - - SPORTS -

Two peo­ple fa­mil­iar with the vote say ma­jor league own­ers have ap­proved the sale of the Mi­ami Mar­lins by Jef­frey Lo­ria to an in­vest­ment group led by Bruce Sher­man and Derek Jeter.

The peo­ple con­firmed the vote to The As­so­ci­ated Press on con­di­tion of anonymity Wed­nes­day be­cause the ap­proval had not been an­nounced. One of the peo­ple said the vote was unan­i­mous, with 75 per cent ap­proval needed.

A signed US$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, a 14-time Al­lS­tar short­stop for the New York Yan­kees, plans to be a limited part­ner in charge of the busi­ness and base­ball oper­a­tions.

The clos­ing is ex­pected to be within a few days. Mi­nor­ity own­ers in the Sher­man-Jeter group in­clude NBA Hall of Famer Michael Jor­dan, who will have a small stake. Jeter

Sher­man spent much of his fi­nan­cial ca­reer in New York and has a home in Naples, Florida.

As part of the tran­si­tion, four well-known Mar­lins ex­ec­u­tives were told last week they won’t be re­tained. They were spe­cial as­sis­tant to the pres­i­dent Jeff Co­nine, who goes by the nick­name Mr. Mar­lin, and three spe­cial as­sis­tants to the owner - Hall of Famers An­dre Daw­son and Tony Perez, and for­mer man­ager Jack McKeon, who led the Mar­lins to the 2003 World Se­ries cham­pi­onship.

Team pres­i­dent David Sam­son is not ex­pected to be re­tained.

Lo­ria’s de­ci­sion to sell the team be­came pub­lic in Fe­bru­ary, and Jeter’s in­ter­est emerged in April. The Jeter-Sher­man group beat out two other groups that pur­sued the team in the fi­nal weeks of ne­go­ti­a­tions.

Lo­ria, 76, departs widely un­pop­u­lar be­cause of his fru­gal own­er­ship and the pub­lic fi­nanc­ing that helped build 5-year-old Mar­lins Park. The Mar­lins are as­sured of their eighth con­sec­u­tive los­ing sea­son, the long­est streak

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