Derek Jeter has announced his exit from the Miami Marlins after serving as the CEO of the team for four years. Along with this decision, Jeter will also give up all his shares in the organization.
The 47-year-old former New York Yankees star was part of the ownership group that purchased the Marlins in August 2017 for $1.2 billion. Jeter, who held a 4% ownership stake, was responsible for overseeing baseball operations during this time, but that chapter is now drawing to a close.
In a statement issued on Monday, Jeter stated, “Today, I am announcing the conclusion of my association with the Miami Marlins. I will no longer hold the position of CEO or retain any ownership in the Club.”
He went on to say, “Five years ago, we set out with a vision to transform the Marlins franchise, and as CEO, I took pride in dedicating myself to turning our plan into reality… However, the future direction of the organization differs from the one I initially committed to lead. Therefore, it is the appropriate moment for me to step down as a new chapter unfolds.”
Jeter was inducted into the Baseball Hall of Fame in 2020, the same year the Marlins made it to the playoffs in a season disrupted by the coronavirus pandemic. Nonetheless, that was the only season during Jeter’s tenure when the team achieved a winning record.
