Deals
Miami Marlins Are Looking to Raise at Least $150 Million
- Morgan Stanley’s private wealth management group leading raise
- Jeter part of Bruce Sherman’s ownership group of MLB team
The Miami Marlins play at Marlins Park on Oct. 1, 2017.
Photographer: Joe Skipper/Getty Images
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The Miami Marlins owners are seeking to raise at least $150 million and have tapped Morgan Stanley’s private wealth management group to advise them, according to a person who was approached about the possible investment.
The money could be used to lower controlling owner Bruce Sherman’s financial stake in the Major League Baseball franchise, among other possibilities. Sherman put up about $400 million of the $1.2 billion purchase price for the team, whose ownership includes former New York Yankees shortstop Derek Jeter. The money could also go toward repaying the investment firm founded by Michael Dell, which contributed $175 million.