The #Jeffrey Loria era is about to reach its conclusion in Miami. According to Clark Spencer of the Miami Herald, the owners voted unanimously on Wednesday in favor of the $1.2 billion deal to buy the franchise from Jeffrey Loria. #Derek Jeter and Bruce Sherman are set to take over as the new Marlins owners after the conclusion of the season.

Loria is considered the worst owner in South Florida history due to his lack of interest, constant low revenue and years of low payrolls resulting in average players destined to take you nowhere but to a below .500 record.

Loria offered high praise for Sherman and Jeter. According to The Chicago Tribune, he said, “I can’t think of anyone better suited than Bruce Sherman and Derek Jeter,” Loria said.

“They are true baseball people, as well as true gentlemen. I have every confidence in their ability as the next stewards of the Miami Marlins to take us to new heights."

Out with the old in with the new

Current Marlins president David Samson accepted a request by Jeter to fire special assistants Jack McKeon, Jeff Conine, Andre Dawson and Tony Perez. McKeon was the manager of the 2003 World Series winning Marlins #Team while Dawson and Perez are Hall of Famers. Conine is one of the most famous Marlins in the organization, going by the nickname, Mr. Marlin.

“Sure, I’m sad,” McKeon said to the Herald about his firing. “No question you’re sad. I’m disappointed, but you understand. A new regime is coming in, and they want their new people in there. You can’t fault them with that.”

What's next for the Marlins

One would think a group led by Jeter and, billionaire businessman, Sherman might lead to an increased payroll leading to competent players, right? Wrong.

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According to Barry Jackson of the Herald, Jeter wants to cut Miami’s payroll drastically—potentially by as much as $60 million—once he takes over.

What does that mean for slugger Giancarlo Stanton who is rapidly approaching the 60 HR mark, which would make him only the third player this century to hit at least 60. Should Stanton remain a Marlin, Jeter reportedly wants the team to come closer to $80–85 million for next season.

Big decisions are set to be made for the core of the Marlins, Marcell Ozuna, Christian Yelich, and Stanton.

In any case, the future is not bright for the franchise, they rank 27th in total attendance out of 30 teams, their TV contract is astonishingly low at $16 million, compared to the Dodgers who rake in $280 million every year from television.

This past regime really put the franchise in a hole both monetarily and on the diamond, it’s up to Jeter and Sherman to push them back out, but it will take time.