One week back, we learned that Marlins owner Jeffrey Loria had finally struck a deal to sell the organization to an investment group led by legendary shortstop Derek Jeter and Bruce Sherman. But that was only the beginning of the process to finalize the deal.
Notably, there’s still a possibility of changes to the financial structure of the arrangement. As Barry Jackson of the Miami Herald first reported, the search for cash continues for the expectant new owners. In essence, it seems that the Jeter-Sherman group has something approaching the bare minimum of equity investment needed and would still like to draw additional investors. Those interested in learning additional details about the situation can read more from Jon Heyman of Fan Rag.
Notably, though, it seems there’s little reason to think the bid is in doubt.As Clark Spencer of the Miami Herald writes, commissioner Rob Manfred acknowledges that changes to the deal structure could yet be made, while also saying the current proposal would pass muster under league rules.
Assuming that’s all sorted out, it seems the incoming owners have already made their first significant personnel decision. Current team president David Samson will not be retained in that role, Dan Le Batard of ESPN Radio and the Miami Herald tweets. Le Batard also notes that the Marlins will have a new COO under the incoming ownership group.
There had been indications Samson would be retained in some capacity, and Heyman notes he is still owed a $5MM salary for another year. As Spencer and Jackson further explain, Samson — who is Loria’s son-in-law — has become the public face of the team during an “occasionally polarizing” term in the position. However, MLB.com’s Joe Frisaro writes that it does not appear that Samson will return to the Marlins organization in any capacity next year.
How Derek Jeter managed to get himself into the controlling owner position while contributing a marginal amount of money is about as crazy as all the gold gloves he won.
Not surprised to see them jettison Samson. They had to make a clean break from the malodorous Loria cadre.
With this whole ownership setup in flux, I’m interested to see what Jeter’s actual role in the hierarchy will turn out to be. Jeter is contributing about 2 percent of the advertised purchase price. I still doubt he’ll become COO or CEO. President of Baseball Ops or something like that wouldn’t surprise me though.
At this point, the Marlins franchise has such a dismal public image that I’d almost consider changing everything about the team they could…
Please disregard this message. It was posted inadvertently.
You had me at “malodorous”.
The worst kind of cadre.
You’re ridiculous!!!!!
jeter isn’t in the controlling owner position.
True. Herman’s article is definitely worth reading, as it outlines the dealmaking process and the floating makeup of the ownership group. The outing of Samson evidently took place after the column was posted.
“Heyman”
Yeah, just Read the article. Thought Jeter was firm on controlling the baseball and business ops though. Regardless, if he takes the job as CEO or head of baseball ops whatever his title is he’ll be getting a nice salary to go along with his return from his ownership piece.
Build a bridge and get over it!!
Look at magic
Same captivity
i read that as ” will replace Stanton”
Did Samson cut his hair? Lose strength?
Samson was a “pillar of the old ways”, so the new owners hired some fixer named Delilah.
Ha!
Well played!
They need to get mas in their group. He is beloved in Miami and has the money that they need. Sherman is near 70 years old and I doubt he wants to spend his time assisting running the Marlins. Let mas come in invest a ton and be CEO or something. Have jeter be president of baseball ops and assistant CEO. Jeter is going to have to back down on his demands to be in control of the whole organization if he wants to bring in the money that they need to properly run the organization.
I don’t think they need any more cash. They would just prefer it.
They are reportedly at the bare minimum percentage per MLB funding guidelines for the deal. Sherman had to pour a further last-minute $100 million into the deal before they even met that base level to get his group the nod from Manfred.
And they will have to absorb big losses (ca. $70 million loss this year) for the foreseeable future on top of that. Plus a 14 percent interest rate on paying back a so-called loan that helped push the deal over the top.
They are working on a relative shoestring, so they must seek additional partners.
i got $5.00 to invest.
Samson is not Loria’s Son-in Law. David is Jeffrey’s step son. However, Jeffrey has always referred to David as his son.
Well then you can surely understand the confusion
Feel bad for Marlins fans. This ownership group is weak at best. Still looking for investors. Not good. You guys need a heavy weight owner.
Samson’s on his way out. That’s good! But the ownership group might have cash issues. That’s bad!
The frogurt is also cursed.
But you get your choice of topping !
The toppings contain potassium benzoate.
Not enough cash?!?! This sounds like the Mcourt Dodger fiasco. You think money’s tight under Loria, wait until you see what’s next.