Derek Jeter is stepping down from his position as CEO of the Miami Marlins after five years with the franchise, the former Yankees shortstop and Baseball Hall of Famer announced Monday.
“Today I am announcing that the Miami Marlins and I are officially ending our relationship and I will no longer serve as CEO nor as a shareholder in the Club,” Jeter wrote. “We had a vision five years ago to turn the Marlins franchise around, and as CEO, I have been proud to put my name and reputation on the line to make our plan a reality. Through hard work, trust and accountability, we transformed every aspect of the franchise, reshaping the workforce, and developing a long-term strategic plan for success.”
However, there appeared to be a rift in the relationship between Jeter and Marlins majority owner Bruce Sherman, who allegedly offered the promise that Jeter’s ownership share would grow. That never happened.
“That said, the vision for the future of the franchise is different than the one I signed up to lead,” Jeter continued. “Now is the right time for me to step aside as a new season begins.”
Jeter was one of 16 investors, headlined by Sherman, who bought the Marlins from Jeffrey Loria for $1.2 billion in 2017. He had retired from a 20-year Hall-of-Fame playing career with the Yankees just three years earlier.
A franchise that has been plagued by a small-market mindset and a philosophy of selling off its best players, Jeter was unable to help turn the on-field product completely around in the four seasons he helped oversee the team. The Marlins went 218-327, finishing either fourth or fifth in the five-team NL East division three times.
However, they shocked the baseball world during the COVID-shortened 2020 season when they qualified for the playoffs for the first time since 2003 with a 31-29 record. They were bounced out of the NLDS by the division-rival Atlanta Braves.