Miami Gardens, FL.--According to a report from ESPN.com, the Major League Baseball owners have approved the sale of the Florida Marlins to Frank Micello, a commodity investor and owner of Micello Enterprises, for approximately $250 million.
Now former owner, Jeffrey Loria, had been seeking a person or group willing to buy the team, according to a close friend [of Loria]. He cites the lack of support to build the team a new stadium, as well as immense pressure from Wayne Huizenga who owns Dolphins Stadium, the current home ballpark for the Marlins.
Micello is a successful commodity investor as well as owner and C.E.O of Micello Enterprises. He had expressed interest to MLB Commissioner, Bud Selig, in potentially bringing in a new expansion team as early as the 2008 season. Selig, however, stated the MLB had no interest in bringing in a 31st team to the league and turned down the offer.
It seems both parties involved got what they were looking for.
\"I am very honored to call this young and fresh franchise my own,\" New Marlins Owner Frank Micello said via a phone interview earlier today. \"I cannot wait to finalize the deal and get this franchise back to the top, where it rightfully belongs.\"
Only time will tell if a fresh face in the owner\'s box will reel the fish their 3rd World Championship.
Information from ESPN.com was used in this article.
