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Forbes says Marlins worth $1 Billion

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If you are surprised by our $1 billion valuation of the Miami Marlins given the team sold for $1.2 billion in October, here's our explanation: The Sherman-led group made the only formal offer for the team and no other group with money was prepared to pay over $1 billion for the team.


But given Rob Manfred's work since becoming commissioner of MLB three years ago, the Marlins could be worth more than $1.2 billion at some point.  By doing new things like the Facebook streaming deal and the game in Williamsportbetween the Pirates and Cardinals, Manfred has sparked more interest in younger fans and brought buzz back to the game. Manfred also worked incredibly hard behind the scenes to make sure the new owners of the Marlins fortified their balance sheet with more cash than they needed to buy the team, and reducing the amount of preferred equity (really debt for all practical purposes) Sherman wanted to use.  As a result, CEO Derek Jeter has more skin in the game than he originally wanted.





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