MLB Source: Jeter and Jordan Group Ready to Buy Marlins

Derek Jeter has tentative deal to buy the Miami MLB Team

Derek Jeter has tentative deal to buy the Miami MLB Team

The Miami Herald is now reporting that an agreement has been struck with Jeffrey Loria to sell the club to a group headed by Jeter and business partner Bruce Sherman.

The runner-up for the bid, Miami-based businessman Jorge Mas, will join the Jeter-Sherman group according to Jon Heyman of FanRag Sports.

Specifically, Jeter said he would like to be an owner like the late George Steinbrenner, whom Jeter played under for 16 seasons.

Jeter, 43, will use just $25 million of his own money to buy a stake in the Marlins. Quogue Capital founder Wayne Rothbaum, who led a third group that included former Florida Gov. Jeb Bush, dropped out of the bidding earlier this week.

In 2002, the then Yankees shortstop became the first Major League Baseball player to be sponsored by Nike Jumpman brand and still remains under contract.

Miami won the 2003 World Series but has not returned to the postseason since.

If their bid is approved by baseball's owner's, the Jeter/Sherman ownership group will acquire a team with one of baseball's best power hitters, extremely low attendance numbers despite a garish home run sculpture and a stadium whose financing deal will cost the city of Miami billions of dollars in the future.