Derek Jeter’s group closes on purchase of Miami Marlins

first_imgCarpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Mos Burger to open in Manila; teases with a pop-up View comments Don’t miss out on the latest news and information. It’s too early to present Duterte’s ‘legacy’ – Lacson OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson DAY6 is for everybody Derek Jeter, right, stands outside of a suite after a baseball game between the Miami Marlins and the Atlanta Braves, Sunday, Oct. 1, 2017, at Marlins Park in Miami. Major league owners unanimously approved the sale of the Marlins on Wednesday to an investment group led by Jeter and Bruce Sherman. (AP Photo/Lynne Sladky)MIAMI — Derek Jeter’s group closed on its purchase of the Miami Marlins on Monday, and he and new controlling owner Bruce Sherman will speak publicly for the first time about the deal at a news conference Tuesday.Major league owners last week unanimously approved the $1.2 billion sale of the franchise by Jeffrey Loria to the investment group led by Jeter and Sherman. The closing came one day after the Marlins concluded their eighth consecutive losing season, the longest streak in the majors.ADVERTISEMENT Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene In ‘Jojo Rabbit,’ Comedy and Drama Collidecenter_img LATEST STORIES Jake says relationship with Shaina ‘goes beyond physical attraction’ MOST READ Irving, Hayward make preseason debuts in Celtics’ victory Among issues to be addressed by the new owners will be the future of major league home run and RBI champion Giancarlo Stanton, whose salary will nearly double next year to $25 million next year, which could make him unaffordable for the revenue-challenged franchise.Also in question are the status of manager Don Mattingly and president of baseball operations Michael Hill.Loria became widely unpopular because of his frugal ownership. He bought the franchise for $158.5 million in 2002 from John Henry, part of the current Boston Red Sox ownership group.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smogJeter, who played on five World Series champions with the New York Yankees, will head baseball and business operations for a team that hasn’t been to the playoffs since 2003. He has about a 4 percent stake in the ownership group.Sherman has the highest equity stake at about 46 percent. The venture capitalist spent much of his financial career in New York and has a home in Naples, Florida. Redemption is sweet for Ginebra, Scottie Thompson Sports Related Videospowered by AdSparcRead Next How to help the Taal evacueeslast_img

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