4
| Sports |

MLB Approves Miami Marlins Sale to Derek Jeter and Bruce Sherman

^
Keep New Times Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Miami and help keep the future of New Times free.

If you've been saving a particularly nice bottle of bubbly for the day when Jeffrey Loria's fat, greedy face finally leaves Miami baseball fans to suffer in peace, it's time to pop the cork. Major League Baseball's owners have unanimously approved the sale of the team to a group led by investor Bruce Sherman and Derek Jeter.

MLB has confirmed the owners signed off on the $1.2 billion sale, which will make Loria extremely rich thanks in large part to the hundreds of millions he siphoned from taxpayers for his routinely deserted baseball stadium in Little Havana.

"I wish the best to Jeffrey Loria and David Samson,” MLB Commissioner Rob Manfred said in a sentiment certainly not shared by Miamians. "I congratulate Mr. Sherman on receiving approval from the Major League Clubs as the new control person of the Marlins and look forward to Mr. Jeter’s ownership and CEO role following his extraordinary career as a player."

Sherman, for the unfamiliar, is a Naples-based investor, notable in part for making a huge bet on newspaper stocks just before the industry imploded and — probably unfairly — taking a lot of heat for cratering journalism. He also bought a $70 million yacht one time.

Jeter had a career with the Yankees with which you might be familiar. He'll own only 4 percent of the Marlins — Sherman will have 46 percent — but Jeter will be the front-office face of the operation.

There's already some concern that Jeter plans to slash and burn payroll as soon as he arrives. Even Giancarlo Stanton could be on the trading block.

But fans will cross that bridge later. Today the only fact that matters is that neither Jeter nor Sherman is Jeffrey Loria. Please enjoy your champagne and join us in a resounding chorus of "Bye, Felicia."

Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the New Times community and help support independent local journalism in Miami.

 

Join the New Times community and help support independent local journalism in Miami.