Loria agrees to sell Marlins to Jeter group for $1.2 billion

Jeter will run the business and baseball operations.

Miami Marlins owner Jeffrey Loria has agreed to sell the franchise to a group led by the Yankees great and NY businessman Bruce Sherman, the Miami Herald reported Friday.

The Miami Herald was the first to report the Sherman-Jeter group was in agreement with Loria.

Word is that Jeter has always been the favorite of not only Loria but also team president David Samson.

The group including Jeter was long expected to be a favorite to land the ownership of the Marlins, although concerns about potentially not having as much to offer for the team was thought to hold back the Jeter group from winning the bidding war.

The Mets are in the same division, the National League East, as the Marlins.

Since the team's inception in 1993, it has never finished the season ranked higher than 26th out of 30 Major League Baseball teams regarding average attendance. That's now come to fruition, giving this Marlins ownership team a huge profile. Team executives have also said they're exploring a reworked local television contract. Besides the Jeter group, the only other bidder who remained after Bush-Rothbaum dropped out was one led by South Florida businessman Jorge Mas, according to the AP. According to the initial report from The Miami Herald on Friday afternoon, a vote could be delayed until October.

Derek Jeter just went from playing in the world's biggest fishbowl to owning the world's biggest fishtank.

Derek Jeter is about to become a co-owner of the Miami Marlins.

Yet, there finally is hope that the Marlins will be a valuable franchise again, knowing that whatever Jeter has touched, whether it's his Yankee teams, his brands, or even his website, has turned to gold.

Vanessa Coleman