Derek Jeter stepping down as Miami Marlins’ CEO, shareholder

This was the first time Jeter has ever been in charge of a baseball team. One of his biggest challenges is figuring out how to attract investors to help the Marlins compete with other teams both financially and on-field.,

Derek Jeter stepped down as the Miami Marlins’ CEO, shareholder on September 26th, 2018. The Marlins are now looking for a new owner. Read more in detail here: miami marlins owner.

On the day of Major League Baseball’s self-imposed deadline to conclude a new collective bargaining agreement and preserve the start of the regular season, Derek Jeter announced his resignation as CEO of the Miami Marlins, sending shockwaves across the industry.

Jeter stated in a statement sent via a news-release distributor rather than the Marlins: “The franchise’s future vision is not the same as the one I signed up to lead. As a new season starts, it is the perfect moment for me to move away.”

Jeter, a Hall of Fame shortstop who played for the New York Yankees for 20 years, was part of the Bruce Sherman-led group that bought the Marlins from Jeffrey Loria in September 2017 for $1.2 billion. Jeter was granted just a 4% ownership share in the team, which he will now relinquish, but was charged with overseeing business and baseball operations.

  Percentage of wins
Orioles .326
Tigers .389
Royals .397
Marlins .400
— ESPN Stats & Information

The Marlins finished 218-327 in four full seasons under Jeter, but surprise reached the playoffs in the COVID-19-shortened 2020 season. High-priced players like Giancarlo Stanton, Christian Yelich, J.T. Realmuto, and Marcell Ozuna were traded early in Jeter’s tenure, but he ultimately witnessed the emergence of players like Sandy Alcantara, Jazz Chisholm, Jesus Sanchez, and Lewin Diaz. ESPN’s Kiley McDaniel rated the Marlins’ farm system fourth out of 30 clubs earlier this month.

Under Jeter’s leadership, the Marlins were able to obtain a naming rights agreement and a new television contract, as well as introduce new uniforms and appoint Kim Ng, MLB’s first female general manager. The squad lost 95 games in 2021, but ahead to the December 1 lockout, it strengthened its offensive by signing Avisail Garcia and dealing for Joey Wendle.

Sherman and Jeter eventually fell out over the magnitude of his ownership stake and the financial commitment to the team, according to sources. Jeter, 47, was in the last year of a five-year deal with the Yankees. Sherman referred to Jeter stepping down as a mutually agreed-upon choice in his remarks.

While the organization seeks for a new CEO, Ng will oversee baseball operations and COO Caroline O’Connor will oversee day-to-day business operations.

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Sherman expressed his gratitude to Jeter in a statement, writing that the Marlins owe him a debt of gratitude “while we look for a new CEO to manage our team, we’ll have a rich pool of expertise to supervise both business and baseball choices. We are determined to construct a club that will return to the playoffs and thrill Marlins fans and the local community, and the ownership group is dedicated to continuing to invest in the franchise’s future.”

Gary Denbo’s future seems to be in jeopardy as a result of Jeter’s departure. Denbo, the Marlins’ vice president of player development and scouting, was highly counted on by Jeter and is one of many former Yankees in the organization who may want to leave.

Jeter was a five-time World Series winner with the New York Yankees, who were among the sport’s top spenders every year. While overseeing a club with smaller pockets and shorter contention windows, he claimed to being fundamentally impatient. The Marlins’ payrolls have started each of the previous three seasons in the bottom four in the league.

This offseason, there were hints of a possible transition. Garcia was handed a $56 million contract, while Alcantara and Rojas were awarded $66 million contracts. But it seems that the money wouldn’t go much farther, a pattern that has endured throughout the Marlins’ 29-year existence as a team that has failed to attract fans.

In a statement, MLB commissioner Rob Manfred called Jeter “a winner on and off the field” and “a foundation of our game.”

“Five years ago, we had a vision to turn around the Marlins club, and as CEO, I’ve been pleased to put my name and reputation on the line to make our plan a reality,” Jeter said in a statement. “We revolutionized every part of the franchise through hard effort, trust, and responsibility, restructuring the staff and crafting a long-term strategic plan for success.”

Buster Olney of ESPN contributed to this article.

Frequently Asked Questions

Why did Derek Jeter leave the Marlins?

A: Derek Jeter retired from Major League Baseball in 2016 and was given a role as the president of baseball operations for the Miami Marlins. After he left, ownership decided to change directions on how they were managing their finances by firing all employees who had worked with him.

Who is the CEO and part owner of the Miami Marlins?

A: Derek Jeter is the CEO and part owner of the Miami Marlins.

What is Derek Jeters role with the Marlins?

A: Derek Jeter is the owner of the Miami Marlins.

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