Derek Jeter Steps Down as Chief Executive of the Marlins
Derek Jeter, the Hall of Fame shortstop for the Yankees, resigned on Monday as the chief executive of the Miami Marlins, ending an ambitious second career after four and a half years in charge of one of baseball’s most vexing franchises.
In a statement, Jeter said he would no longer serve as an investor or a shareholder with the Marlins. He held a 4 percent stake as part of a group that paid $1.2 billion for the franchise in 2017. The group was led by Bruce Sherman, a wealth-management executive from New York.
“We had a vision five years ago to turn the Marlins franchise around, and as C.E.O., I have been proud to put my name and reputation on the line to make our plan a reality,” Jeter’s statement said.
“Through hard work, trust and accountability, we transformed every aspect of the franchise, reshaping the work force 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.”
The Marlins have never won a division title in their 29 seasons, but captured World Series championships in 1997 and 2003. Their only other playoff appearance came under Jeter’s direction in the expanded format in 2020, when they were 31-29 and won a first-round series against the Chicago Cubs.
In Jeter’s three full seasons, however, the team has lost 98, 105 and 95 games, while continuing the franchise’s pattern of meager payrolls and poor attendance. The Marlins ranked 23rd in the majors in payroll in 2018, according to Baseball Prospectus, and 29th, 27th and 28th in subsequent seasons. Their attendance has ranked last in the National League every year that tickets have been sold since 2013.
“The Marlins thank Derek for his many contributions and wish him luck in his future endeavors,” Sherman said in a statement. “We have a deep bench of talent that will oversee both business and baseball decisions while we work to identify a new C.E.O. 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.”
Jeter hired several former Yankees officials throughout the organization, including Kim Ng, who became the first female general manager in Major League Baseball history in November 2020.
Jeter’s resignation is another blow to M.L.B., which locked out the players on Dec. 2, leading to the cancellation of spring training games and threatening the start of the regular season. Commissioner Rob Manfred hailed Jeter in a statement as a “highly respected voice on our diversity and competition committees” and praised him for hiring women in top roles.
“Derek is a pillar of our game and we look forward to his future contributions to baseball,” Manfred said.