Derek Jeter stepping down as CEO, shareholder of Miami Marlins

Miami Marlins owner Derek Jeter. (Alan Diaz/AP)

MIAMI (AP) — Derek Jeter went into the offseason talking about the Miami Marlins spending more money on contracts, figuring out ways to contend and continuing to build for the future.

His focus — or the Marlins’ focus — apparently has changed since.

And now, the Hall of Fame player has left the organization, both as its CEO and a shareholder.

Jeter announced a surprise departure from the Miami Marlins on Monday after 4 1/2 mostly unsuccessful years that didn’t come remotely close to matching his success as a player for the New York Yankees. The Marlins had the fourth-worst record in baseball over Jeter’s four seasons, making the playoffs only in 2020 when more than half of the MLB’s 30 teams qualified in the pandemic-affected year.

"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. 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.

"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 as a new season begins.

"My family and I would like to thank our incredible staff, Marlins fans, Marlins players, and the greater Miami community for welcoming us with open arms and making us feel at home. The organization is stronger today than it was five years ago, and I am thankful and grateful to have been a part of this team."

What that meant wasn’t exactly clear, though Jeter — who wasn’t physically around the team on a day-to-day basis — previously said he had trouble remaining patient in his quest to make the Marlins a winner.

Jeter became CEO of the Marlins in September 2017 when Sherman bought the team from Jeffrey Loria.

A five-time World Series champion during a playing career spent entirely with the Yankees from 1995-2014, Jeter was elected to baseball’s Hall of Fame in 2020.

Miami went 218-327 during his four seasons at the helm, finishing with a winning record only once at 31-29 in the pandemic-shortened 2020 season. In the full seasons under Jeter, the Marlins went 63-98, 57-105 and 67-95.

While the Yankees are among baseball’s highest spenders, Miami was 27th among the 30 teams in payroll last year at $61 million. Jeter said in October that he was hopeful that would change, after the Marlins’ revenue streams improved over the last year or so, given a new local television deal and a new naming rights agreement for the team’s ballpark.

Jeter, a shortstop during his playing career, was a 14-time All-Star and the 1996 AL rookie of the year. His 3,465 hits still rank sixth-best on baseball’s all-time list behind Pete Rose, Ty Cobb, Hank Aaron, Stan Musial and Tris Speaker.

And when the playing days ended, his desire to run a team was clear. Jeter was part of the group that won the right in August 2017 to buy the Marlins, a $1.2 billion deal that became official about two months later. Jeter had a 4% stake in the purchase, coming on board as the CEO and overseeing baseball operations.

“The Miami Marlins and Derek Jeter announced today that they have agreed to officially end their relationship. The Marlins thank Derek for his many contributions and wish him luck in his future endeavours," Sherman wrote in a statement.

We have a deep bench of talent that will oversee both the business and baseball decisions while we work to identify a new CEO to lead our franchise. The ownership group is committed to keep investing in the future of the franchise — and we are determined to build a team that will return to the postseason and excite Marlins fans and the local community.”

During his tenure, Jeter appointed Kim Ng as the team's general manager, making the Marlins the first team among the MLB, NHL, NBA, and NFL to have a woman in that position. He also hired Caroline O'Connor to become the chief operating officer.

Garcia was the last big splash before the lockout began. Jeter said he went to breakfast with Garcia when the team was deciding whether to go forward, because he wanted the outfielder to convince him personally that he wanted to be part of the Marlins’ plans.

“I’ve dealt with a lot of people in my life and I think I’m a pretty good judge of character in terms of when someone’s telling me the truth or not, and you could see in his eye he was excited at the possibility of coming here,” Jeter said that day, after sharing the stage with Sherman at the signing announcement. “That’s what you want to hear.”

He spoke at length that day about the Marlins’ hopes for the future.

Roughly three months later, that future no longer includes Jeter.

“I thank Derek for his service to the Marlins, the communities of Miami and the game,” MLB Commissioner Rob Manfred said. “Derek is a winner on and off the field ... a pillar of our game and we look forward to his future contributions to baseball.”

When submitting content, please abide by our  submission guidelines, and avoid posting profanity, personal attacks or harassment. Should you violate our submissions guidelines, we reserve the right to remove your comments and block your account. Sportsnet reserves the right to close a story’s comment section at any time.
We use cookies to improve your experience. Learn More or change your cookie preferences. By continuing to use this site, you agree to the use of cookies.
close