Bruce Sherman: Principal owner of the Miami Marlins looking for growth

Bruce Sherman is the chairman and principal owner of the Miami Marlins, and he has been since October 2017. He says he has no present intentions of selling the team.

The Miami baseball team was purchased by a group led by Mr. Sherman, former baseball player Derek Jeter, and former basketball player Michael Jordan for $1.2 billion, and the team is currently valued at $1 billion, according to Forbes Magazine. Mr. Jeter has since left the ownership group, and Mr. Sherman remains the principal owner.

Since taking ownership of the team, he said, he has committed to continue to increase the payroll of the players and free agent signings – contracts with a player free to sign with other clubs or franchises – to increase investments in the community, and to continue his philanthropic work alongside his wife Cynthia Sherman in various endeavors.

Mr. Sherman began his career in the financial world, co-founding Private Capital Management, a wealth management firm, which managed government, colleges’ and universities’ finances, and grew to $4.4 billion in assets under management, from 1985 to 1999. The company was later sold to investor Warren Buffett. Mr. Sherman has also invested in several multi-million-dollar companies including Qualcomm Inc, Apple Computer, International Game Technology, Banknorth, and Charter One Financial.

On the philanthropic side, Mr. and Mrs. Sherman founded the Sherman Prize, which awards innovation and research into Crohn’s disease, ulcerative colitis, and irritable bowel syndrome.

The 2023 Major League Baseball season for the Miami Marlins started March 30 and will continue until Oct. 1.

“My goal is to continue to grow the game and to try to compete for the championship each year,” he said.

Mr. Sherman spoke with Miami Today reporter Monica Correa.

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