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Are Derek Jeter & the Miami Marlins Going to Face a Cash Crunch?

· MLB,Derek Jeter,Miami Marlins,Sports,Sports Business

According to a January report by Forbes, the Marlins ownership, led by Derek Jeter and Bruce Sherman, had about $50 million in working capital after acquiring the team last October for $1.2 billion. However, attendance at slightly below 10,000 per game represents an annual loss of about $30 million for 2018 in just lost tickets and food sales.

Furthermore, merchandise and apparel sales are down. Last year, they had $53 million of losses, which were supposed to have been taken care of by trading Giancarlo Stanton to the New York Yankees. However, it looks like the losses from merchandise, apparel, concessions, and gate receipts could make up a large premium to the Stanton savings. Furthermore, with a continued free fall in TV ratings, the “master plan" that Jeter conceived to bring the team to profitability looks in jeopardy. Just a few weeks ago, Jeter listed his home in upstate New York for sale.

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