Jeffrey Loria reportedly agrees to sell Marlins for $1.2B to group led by Derek Jeter, Bruce Sherman

MIAMI (AP) -- A person familiar with the negotiations says the Miami Marlins have told Major League Baseball they intend to sign an agreement to sell the team to a group that includes former New York Yankees star Derek Jeter.

Jeter would a limited partner in the group led by venture capitalist Bruce Sherman.

The person confirmed the Marlins' plans to The Associated Press on condition of anonymity Friday because the team had not commented publicly. The person said MLB has been told the sale price will be about $1.2 billion to the group, which includes more than 10 entities.

Sherman would be the controlling owner, the person said. Sherman has spent much of his financial career in New York and has also lived in Naples, Florida.

The person said Jeter will be in charge of baseball operations.