Derek Jeter Stepping Down As Miami Marlins CEO

Miami FL

28 February, 2022

11:40 AM

Description

MIAMI, FL — Hall of Fame shortstop Derek Jeter announced Monday he is stepping down as CEO of the Miami Marlins. Jeter, who announced his departure through PR Newswire instead of through the team, had been CEO of the Marlins since September 2017. The New York Yankees legend said he was proud of the transformation the team has seen since he joined the Marlins as CEO and a shareholder but that now was the right time to step away. Jeter cited a difference in vision for the future of the franchise from the one set out five years ago as the main reason for his decision. Jeter took over as CEO after Bruce Sherman bought the team from Jeffrey Loria in 2017, but he was never able to match the success he had as a player with the Yankees. Jeter owned a 4 percent stake in the ownership group led by Sherman that bought the team for $1.7 billion. During his four seasons, Miami compiled a 218-327 record and won just one playoff series. The Marlins went 31-29 during the coronavirus-shortened 2020 season to earn a playoff berth and swept the Chicago Cubs 2-0 in the NL Wild Card round. Miami was swept by the Atlanta Braves 3-0 in the NL Division Series. In the three full seasons under Jeter, the Marlins lost 98, 105 and 95 games. As a player, Jeter won five World Series titles with the Yankees and was the team's captain from 2003 to 2014. He was a five-time Gold Glove and Silver Slugger recipient and was named 1996 AL Rookie of the Year and 2000 World Series MVP. The 14-time All-Star notched over 3,400 hits in his illustrious Hall of Fame career. Jeter's No. 2 jersey is retired by the Yankees, and he has a place in the team's distinguished Monument Park at Yankee Stadium. The Marlins have never won a division title, and have made the playoffs just three times, winning the World Series as a wild card team in 1997 and 2003. Though the Marlins ended a 17-year playoff drought under Jeter, the lack of team success is a far cry from anything he experienced as a player. Jeter is leaving his position as CEO and divesting in the team in part because of what he perceives as a broken promise to increase spending on players, sources told the New York Post. Jeter believed Sherman had pledged increase spending on players by $10-$15 million once transactions were allowed at the end of MLB's current lockout but now believes that plan has been reversed, according to the report. Spring training games are canceled until at least March 8, and MLB owners have set a Monday deadline before regular season games will begin to be canceled. Sherman released a statement saying Jeter and the team agreed to "officially end their relationship." Sherman thanked Jeter for his time with the franchise and expressed the Marlins had a "deep bench of talent" that would run baseball operations while the team searched for a new CEO. MLB Commissioner Rob Manfred called Jeter "a winner on and off the field" in a statement and commended his commitment to building a Marlins front office that showed a commitment to hiring women in top roles in baseball operations and executive leadership and has the team positioned for long-term success. Jeter was a member of the league's diversity and competition committees, according to Manfred's statement. Jeter hired Kim Ng as the Marlins' general manager in November 2020. Jeter was familiar with Ng, the first female general manger in any of the major men's professional sports leagues in North America, from when she was the assistant general manager of the Yankees from 1998 to 2001, when the team won three straight World Series titles.