Major League Baseball is satisfied that the proposed plan to finance the purchase of the Marlins for $1.2 billion meets the league’s criteria — at least on paper.
But more steps remain in the approval process.
“And we’re going to do that as quickly as possible and hopefully get the transaction approved quickly,” MLB Commissioner Rob Manfred said Wednesday on the final day of the quarterly owners’ meetings.
League owners met on Tuesday with billionaire businessman Bruce Sherman to go over his plans to buy the Marlins from Jeffrey Loria. Sherman’s group, which has a written agreement to buy the team, includes former New York Yankees shortstop Derek Jeter and more than a dozen other investors.