Derek Jeter sold his stake in the Miami Marlins and will no longer serve as CEO of the team.
Former New York Yankees star and Hall of Fame shortstop Derek Jeter is stepping down as CEO of the Miami Marlins, according to multiple sources. In a statement, Jeter also announced he was no longer a shareholder in the team either.
Derek Jeter is stepping down as CEO of the Miami Marlins, sources tell ESPN.
— Jeff Passan (@JeffPassan) February 28, 2022
Derek Jeter’s statement stepping down as CEO of the Marlins. pic.twitter.com/1NNr0xaOIA
— JJ Cooper (@jjcoop36) February 28, 2022
Derek Jeter and financial mogul Bruce Sherman bought the Marlins from Jeffrey Loria for $1.2 billion in 2017. In a short amount of time, and with Jeter as the face of the front office, the Marlins are no longer a laughingstock despite not being a winning team. Young arms like Sandy Alcantara and Sixto Sanchez, plus exciting hitters in Bryan De La Cruz and Jazz Chisholm Jr. make for a brighter future in South Florida.
Even better, the Marlins made the playoffs in the pandemic-shortened 2020 season and skipper Don Mattingly took home NL Manager of the Year honors.
So why is Derek Jeter wanting out now? Well, considering his being a former player and the ongoing MLB lockout, perhaps he and Sherman weren’t on the same page as much as it seemed. Jeter’s Miami tenure also wasn’t without controversy, as the Marlins suffered a COVID-19 outbreak in 2020 that nearly derailed their season. Furthermore, Jeter’s statements after the fact came off as short and flippant.
Issues aside, we know this much is true. Under Derek Jeter’s watch, the Miami Marlins finally seemed ready to stop being perennial losers and actually compete.
Now, let’s see if that direction holds with Jeter out of the room.