Major League Baseball's Miami Marlins were sold to an investment group featuring former New York Yankee Derek Jeter, and former NBA Player/current franchise owner Michael Jordan for $1.2 billion.
The investment group is led by venture capitalist Bruce Sherman. Jeffrey Loria purchased the Marlins in 2002 for $158 million after selling his former franchise, the Montreal Expos, back to MLB for $120 million.
The Marlins have not made the playoffs since 2003 and have ranked last in attendance in 11 of the past 12 seasons.
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