Derek Jeter stepping down as Miami Marlins’ CEO, shareholder

MIAMI — Derek Jeter introduced a shock departure from the Miami Marlins on Monday after 4½ largely unsuccessful years that did not come near matching his success as a participant for the New York Yankees.

Jeter grew to become CEO of the Marlins in September 2017 when Bruce Sherman purchased the crew from Jeffrey Loria. Jeter additionally relinquished his 4% stake within the franchise Monday.

A five-time World Collection champion throughout a taking part in profession spent totally with the Yankees from 1995-2014, Jeter earned election to baseball’s Corridor of Fame in 2020.

Miami went 218-327 throughout his 4 seasons on the helm, ending with a profitable file solely as soon as at 31-29 within the pandemic-shortened 2020 season. Within the full seasons below Jeter, the Marlins went 63-98, 57-105 and 67-95.

Whereas the Yankees are amongst baseball’s highest spenders, Miami was 27th among the many 30 groups in payroll final yr at $61 million.

“I’ll not function CEO nor as a shareholder within the membership,” Jeter mentioned in an announcement launched via PR Newswire moderately than the Marlins. “We had a imaginative and prescient 5 years in the past to show the Marlins franchise round, and as CEO, I’ve been proud to place my title and fame on the road to make our plan a actuality. By way of exhausting work, belief and accountability, we remodeled each facet of the franchise, reshaping the workforce, and growing a long-term strategic plan for achievement.

“That mentioned, the imaginative and prescient for the way forward for the franchise is totally different than the one I signed as much as lead.”

In a separate assertion, Sherman thanked Jeter for his contributions to the crew and regarded forward to what’s subsequent for the Marlins.

“We’ve got a deep bench of expertise that can oversee each enterprise and baseball choices whereas we work to determine a brand new CEO to steer our franchise,” Sherman mentioned within the assertion. “The possession group is dedicated to maintain investing in the way forward for the franchise – and we’re decided to construct a crew that can return to the postseason and excite Marlins followers and the local people.”

MLB commissioner Rob Manfred additionally issued an announcement on Jeter’s departure.

“On behalf of Main League Baseball, I thank Derek for his service to the Marlins, the communities of Miami and the sport,” Manfred mentioned in his assertion. “Derek is a winner on and off the sphere. Along with his helpful contributions as a entrance workplace govt, Derek was a extremely revered voice on our Variety and Competitors Committees. He helped construct a gifted entrance workplace with the Marlins, together with transferring the sport ahead by hiring ladies in prime roles within the Membership’s baseball operations and govt management, and a basis that has positioned the Marlins for long-term success. Derek is a pillar of our recreation and we sit up for his future contributions to Baseball.”

Data from The Related Press was used on this report.