Former Miami Marlins owner Jeffrey Loria reached a lawsuit settlement to reimburse the local government $4.2 million for the cost of building Marlins Park, which opened in 2012.

The payment stems from the $1.2 billion sale of the team in 2017 by Loria to Derek Jeter and his ownership group.

Following the sale, Loria claimed a loss on the deal due to taxes, which the county described as "fuzzy math."

The settlement follows months of negotiations. Miami-Dade County will receive $3.637 million, or 87% of the settlement, and the city of Miami will receive $563,000, according to terms outlined on the county website.