Derek Jeter will be new owner of Miami Marlins

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However, despite the fact that Loria is leaning toward the Sherman-Jeter Group, any deal that is eventually agreed upon would still require approval from Major League Baseball's owners.

NY businessman Bruce Sherman, who is the primary financial backer of the group, will be the "control person" or managing general partner for the team, while Jeter will run the business and baseball sides of the franchise, Jackson reports. Their group reportedly has 16 investors, and they have raised the money needed to complete the sale. Jeter is contributing $25 million himself, the Herald reported.

But Jeter, the former New York Yankees star shortstop, will run the business and baseball sides of the organization, the source said.

Several big names were involved, at one time, in the bidding, including Tagg Romney, the son of former presidential candidate Mitt Romney, as well as former Florida Gov. Jeb Bush.

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Loria bought the Marlins for $158.5 million in 2002.

It will take a Major League Baseball vote to approve of the Jeter-Sherman pairing and official sale of the team. It is he who will be referred to as the team's owner.

Jeter, who retired from playing after the 2014 season, lives in Tampa, Florida, with his wife, supermodel Hannah Davis, who is expecting the couple's first child. "Sherman's investing style is to select companies he thinks are undervalued".

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