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Jeter, Sherman Introduced As Marlins Owners; Offer Little Details On Direction Of Team

Derek Jeter and Bruce Sherman held their first press conference as Marlins owners yesterday, and while the pair "pledged to make fans their 'No. 1 priority,'" they "provided few other specifics about what direction they intend to take both on and off the field," according to Clark Spencer of the MIAMI HERALD. There was not much about how they "intend to energize a franchise that has gone eight years without a winner and lags near the bottom of the majors in attendance," and both repeatedly expressed the need to "invigorate a largely disenchanted fan base that has had little to cheer about from one losing season to the next." Despite the opening of a new ballpark in '12, the Marlins have ranked "no better than 27th in home attendance during the past five seasons." Jeter said, "We believe in this market. We believe in the fan base. We are focused on bringing the fans back. We want them to get to know us as owners." Sherman added, "We have to re-engage the community. We recognize that. We know it’s a long-term process." Spencer reports it is widely assumed Jeter and Sherman will "look for ways to cut costs" with the team losing more than $50M last season. The Marlins carried a $115M payroll in '17, and Jeter said, "I don’t like the word teardown. Yeah, we are rebuilding the franchise. But I think a lot of times people associate those words with losing, and you never go into a situation and the message is we’re going to lose" (MIAMI HERALD, 10/4). Jeter indicated that he will be "very hands on" with the club. Jeter: "You have to be present and involved. I don’t think people would respect me if I wasn’t here" (MIAMI HERALD, 10/4). In Ft. Lauderdale, Tim Healey writes Jeter and Sherman "playfully bantered with each other and reporters throughout their 25-minute question-and-answer session, avoiding particulars but hitting on several key themes" (South Florida SUN-SENTINEL, 10/4).

GIVE THE PEOPLE WHAT THEY WANT
: In N.Y., Ken Davidoff reports Jeter "provided virtually zero answers" during the press conference, and unlike during his playing career, such an "aversion to specifics carries consequences." As an owner, speaking to the public through the media "isn’t an ancillary responsibility" but a "primary" one. The Marlins are trying to sell tickets for next year, and "potential customers are none the wiser" on whether players like RF Giancarlo Stanton and LF Marcell Ozuna will be part of the '18 team. Jeter will "get the patience, and he deserves it," but he "must realize that engaging the fans, be it in person, through his own website The Players’ Tribune or through media interviews, requires feeding them some red meat." Davidoff: "Giving them a more specific sense of what to expect" (N.Y. POST, 10/4). In Ft. Lauderdale, Dave Hyde writes Jeter as a player "never dealt in opinions or public words, because he just needed to step on the field and win." However, he "needs to deal in the world of words" as part of ownership. He "needs to come across a little more exciting than the lackluster way he did" yesterday. Hyde: "He certainly needs to educate fans and engage corporate sponsors in his new community while he has the chance coming up" (South Florida SUN-SENTINEL, 10/4). In Miami, Greg Cote writes Jeter will "enjoy the bounce of an extended honeymoon for a couple of reasons," the main one being he is not former Owner Jeffrey Loria. Jeter also "wears the imprimatur of success like expensive cologne." He "did not mention the word 'Yankees' even once during a 28-minute news conference" (MIAMI HERALD, 10/4). Campus Insiders' Bonnie Bernstein tweeted, "Derek Jeter now owns the #Marlins. That mere sentence immediately makes the club sound more successful" (TWITTER.com, 10/3).

LONG-TERM PLAY: In Ft. Lauderdale, Craig Davis reports the seeds for Jeter to join an ownership group were "sown within a couple months of the end" of his playing career. He "took a behind-the-scenes tour of Marlins Park and met with Loria" in early December '14. Jeter said, "I first had a conversation with Jeffrey years ago and he mentioned this might be an organization that comes up for sale. So I set my sights on it, this is what we targeted. We believe in this market." Davis notes Sherman yesterday "revealed little about his motivation in becoming the principal owner but repeatedly expressed enthusiasm for the challenge of turning around the fortunes of the franchise." He "offered little" about others involved in the $1.2B transaction, except that the investment group includes "individuals from Latin America." Sherman: "None of them really seek celebrity or seek being in the newspaper. It’s a good group -- 10, 12, 14 is not totally relevant" (South Florida SUN-SENTINEL, 10/4). The WALL STREET JOURNAL's Sarah Krouse profiled Sherman, who was once "considered one of the star stock pickers of his generation" but has been "off the radar for almost a decade after a series of bad bets on newspaper companies and fallen Wall Street giant Bear Stearns." Sources said that Sherman provided about $300M to the ownership group and is "prepared to contribute" an added $100M "if needed." Sherman will serve as Marlins Chair and will "seek to upgrade the team’s financial health with Jeter, who will run day-to-day operations" as team CEO. The move "fits with Sherman’s career-long fascination with both baseball and turnaround stories" (WSJ.com, 10/3).

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