A group led by Derek Jeter and former Florida governor Jeb Bush has placed the winning bid for the right to purchase the Miami Marlins, reports Scott Soshnick.
The cost for the team is expected to be $1.3 billion, reports Clark Spencer of Miami Herald.
Word of Jeter's interest in owning the Marlins was initially reported on April 5 by Fox Business Network.
Jeffrey Loria had owned a controlling stake in the Marlins since 2003, but had been fielding offers for the team in recent years.
Jeter has expressed a desire to own a team before. In 2014, he said he'd like to be "calling the shots, not answering to someone."
"I'd probably be a little bit more behind the scenes than The Boss," Jeter said at the time, referring to late Yankees owner George Steinbrenner. "But I learned a lot of great things from him."
The former Yankee captain retired following the 2014 season after a 20-year career. The Yankees will unveil Jeter's plaque in Monument Park and retire his No. 2 prior to their May 14 game with the Astros.