Derek Jeter steps down as Miami Marlins CEO

Derek Jeter is stepping down as CEO of the Miami Marlins.

The Hall of Fame shortstop announced Monday that he is also giving up his stake as a shareholder in the organization. Jeter has been the team’s CEO and a minority owner since 2017. 

“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,” Jeter said in a statement. “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.”

Jeter as an executive has not enjoyed the kind of success he had as a player for the New York Yankees. 

He became CEO of the Marlins in September 2017 when Bruce Sherman bought the team from Jeffrey Loria. Since the start of the 2018 season, the Marlins have won 40% of their games with a 218-327 record. 

The lone bright spot during Jeter’s time with the team was the COVID-19 shortened 2020 season. The Marlins earned a Wild Card spot after going 31-29 in the regular season. After sweeping the Cubs in the Wild Card round, the team was swept by the Braves in the NLDS. But in 2018, 2019 and 2021, Miami didn’t win more than 67 games in any of those years. 

“We have a deep bench of talent that will oversee both business and baseball decisions while we work to identify a new CEO to lead our franchise,” Sherman said in a statement.

“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.”

As a member of the Yankees from 1995-2014, Jeter became one of the best shortstops in baseball history. He was elected to baseball’s Hall of Fame in 2020 with 99.74% of the vote. But Miami, unlike the Yankees, had payroll limitations that impacted the kind of talent Jeter could put on the field.

In 2021, the Marlins’ payroll was just $61 million, fourth-smallest in the MLB. 

“On behalf of Major League Baseball, I thank Derek for his service to the Marlins, the communities of Miami and the game,” MLB Commissioner Rob Manfred said in a statement.

“He helped build a talented front office with the Marlins, including moving the game forward by hiring women in top roles in the club’s baseball operations and executive leadership, and a foundation that has positioned the Marlins for long-term success. Derek is a pillar of our game and we look forward to his future contributions to baseball.”