Derek Jeter is stepping down as CEO of the Miami Marlins, it was announced Monday.
“Today I am announcing that the Miami Marlins and I have officially ended our relationship and I will no longer be CEO or shareholder of the club. Five years ago we had the vision to change the Marlins franchise, and as CEO, I am proud to put my name and reputation at stake to make our plan a reality.Through hard work, trust and responsibility, we transformed every aspect of the franchise, reshaping the workforce and developing a long-term strategic plan for success.
Derek Jeter announces divorce with #Marlins
“I will no longer be the CEO or partner of the Marlins”: Jeter pic.twitter.com/CNV2Tpkf9a
– Enrique Rojas/ESPN (@Enrique_Rojas1) February 28, 2022
“That said, the vision for the future of the franchise is different than the one I signed up to lead. Now is the right time for me to step aside when a new season begins.”
He was part of the group, led by Bruce Sherman, that won the right in August 2017 to buy the Marlins from Jeffrey Loria, a $1.2 billion deal that became official about two months later. Jeter had a 4% stake in the purchase, coming on as CEO and overseeing baseball operations beginning in September 2017.
The five-time World Series champion during a playing career that was spent entirely with the Yankees from 1995 to 2014, he earned election to the baseball Hall of Fame in 2020.
Although the team reached the postseason in the pandemic-shortened 2020 season, the Marlins have the worst record in the National League in the four seasons Jeter was the team’s CEO.
Miami went 218-327 in that stretch, finishing with a winning record just once at 31-29 in the shortened 2020 season. In full seasons under Jeter, the Marlins went 63-98, 57-105 and 67-95.
Miami ranked 27th among 30 teams on payroll last year with $61 million.
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Marlins: Derek Jeter resigns as CEO