Derek Jeter and his new business partner Jeb Bush have reportedly won the auction to become the next owners of the Miami Marlins.

According to Bloomberg.com, Jeter and Jeb's group won the auction with a bid of $1.3 billion. Jeff Loria, the current owner of the Marlins, bought the team back in 2002 for $158 million.

The Marlins currently rank 24th out of 30 MLB teams in attendance, averaging 24,313 fans a night at Marlins Park which is still relatively new having opened in 2012. 

The group reportedly outbid Quogue Capital LLC founder Wayne Rothbaum, and Solamere Capital co-founder Tagg Romney, whose group included former All-Star pitcher Tom Glavine.