Hall of Fame shortstop Derek Jeter announced he is stepping down as CEO of the Miami Marlins after joining the franchise as part owner in 2017.
"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," Jeter wrote in a statement on The Players Tribune."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.
"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 former New York Yankees shortstop became a minority owner with a four percent stake in the team in 2017, joining Bruce Sherman's ownership group that purchased the organization from Jeff Loria for $1.2 billion. In the four seasons since, the Marlins have gone 218-327, making the playoffs during the pandemic-shortened season in 2020 with a record of 31-29.
ESPN's Buster Olney reported that Jeter's ownership stake in the organization didn't grow as expected due to a divide with Sherman.