Retired financier Bruce Sherman, who along with Yankees icon Derek Jeter was the winning bidder to purchase the Miami Marlins franchise, has been in contact with Jorge Mas, the Miami businessman who was the second-place finisher for the team, about joining the group, sources say.
It isn’t clear what role Mas, the chairman of Mas-Tec, would play, but there’s word he could invest up to around $300M, so it could be a fairly significant one.
Besides the potential to financially strengthen the group, Mas is an experienced and successful businessman with strong local ties, especially in Miami’s Cuban community.
Sherman is being designated the control person, but he’s 69 and it isn’t clear how much day-to-day involvement he seeks. Jeter is expected to have a title such as CEO or team president and have active involvement, though his relatively low personal investment — $25M according to sources — would not qualify him to be designated as the control person by MLB. That said, MLB loves the involvement of Jeter, who has an amazing record of winning and pristine reputation.
The Sherman-Jeter group signed their deal for $1.2 billion to buy the team from Jeffrey Loria Friday night, as FanRag reported. The price could still fluctuate slightly, but that was the number Loria has sought for months.
The Miami Herald first reported on the agreement between the Sherman-Jeter group and Loria.
Bloomberg first mentioned the continuing talks between Sherman, who sold his Private Capital Management in 2009, and Mas.