Report: Jeter's group still seeking investors despite winning Marlins bid

Derek Jeter's path to purchasing the Miami Marlins might not be as clear as first thought.

According to Jon Heyman of FanRag Sports, the group led by Jeter and billionaire Bruce Sherman is reportedly still searching for investors despite having already agreed to purchase the club from Jeffrey Loria for $1.2 billion.

Sherman, who would be the "control person" representing the Marlins at MLB ownership meetings should the deal be completed, reportedly put an additional $100 million of his own money into the deal recently, per Heyman, which stretched his total personal investment to $400 million. Jeter is reported to have invested only $25 million of his own money, but would nonetheless run the club's business and baseball operations.

Forbes' Mike Ozanian reported on Monday that investment firm MSD Partners - operated by Michael Dell, founder of Dell Technologies - plans to invest $175 million as part of the Jeter-Sherman group (according to Heyman's report on Thursday, Dell's investment would only be $150 million). Both Ozanian and Heyman report that Dell would be investing his money in "preferred equity" with a 14 percent loan rate, something that is reportedly concerning to the MLB given the franchise's existing debt.

Per Ozanian's report, the Marlins are currently about $400 million in debt under Loria's ownership, and are reportedly expected to lose $80 million this year.

Sources also told Heyman at least two other groups respectively led by Jorge Mas and Wayne Rothbaum - who both led bids that lost out to Jeter-Sherman - are "waiting in the wings" just in case the current winning bid fails.

Despite Heyman's report, current Marlins president David Samson told USA Today's Bob Nightengale on Thursday that the Jeter-Sherman group's finances are "all set."

Nightengale also reported Thursday that Sherman made a presentation on behalf of the prospective group at MLB ownership meetings in Chicago that reportedly left the other 29 owners "thrilled" by what they heard. Jeter is not attending this week's meetings due to the impending birth of his first child.

MLB owners are expected to vote on the purchase in September.