The recent stake sale of the Marlins will “help pay off a portion of the team’s debt” and gives the team “more money in the coffers with portent of MLB instituting a salary cap and floor in 2027,” according to Barry Jackson of the MIAMI HERALD. That cap and floor might only arrive if owners “have the intestinal fortitude to lock out players next year as long as it takes to get this done.” A source confirmed that Marlins owner Bruce Sherman recently sold 15% of the franchise to two families with South Florida residences. Sportico first reported the transaction. The deal “pocketed Sherman approximately” $232M. The Marlins declined to disclose the buyers. And unlike the Heat and Dolphins, the Marlins do not identify any of their minority owners. A source said that the group “includes about 15 people.” Jackson noted Sherman is “still what MLB calls the ‘control person.’” Sherman and his group bought the team in 2017 for $1.2B. This deal to sell 15% valued the franchise at $1.55B, though the Marlins “privately view team’s worth as higher” because that number was based on purchasing a minority interest without decision-making power. Though everything in sports is for sale in one way or another, an associate said Friday that Sherman “plans to continue owning the team” (MIAMI HERALD, 5/30).
Marlins stake sale to help pay off team debt, boost funds ahead of possible cap
