May24

Derek Jeter Teams with Jeb Bush For Ownership Stake in Marlins

Categories // LA Focus, On the Money, Content Wednesday, 24 May 2017

Derek Jeter, who earned over $265 million over his 20-year career with the Yankees with whom he won five world series, will join Magic Johnson as one of the only minority superstar athletes to have an ownership stake in a major league baseball team. The ownership group led by Jeter and and former Florida governor Jeb Bush has won the auction to buy the Miami Marlins.       

 The reported $1.3 billion price tag would be the second highest paid for a baseball team behind the $2 billion paid for the Dodgers in 2012. Jeter, who has started a website for athletes and a publishing imprint since retiring from the Yankees in 2014, has long wanted to own a franchise. Though an unlikely pairing to most, Bush follows in the footsteps of his brother, George who was managing general partner of the Texas Rangers for five years before going into politics. The combined status of Bush and Jeter as owners is likely to not only enhance the team’s branding, but may also make its final approval by Major League Baseball—a process now pending—a done deal. 

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