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Saturday, May 18, 2024

Derek Jeter to Sell Stake in Marlins Worth $45M, Step Down as CEO

  • Derek Jeter is stepping down as CEO of the Miami Marlins and selling his 4% stake in the franchise.
  • His stake in the team is worth roughly $44.8 million.
Derek-Jeter-Miami-Marlins
Jason Vinlove-USA TODAY Sports/Design: Alex Brooks

Hall of Fame shortstop Derek Jeter announced Monday he is stepping down as CEO of the Miami Marlins and selling his 4% stake in the franchise worth roughly $44.8 million. 

“The vision for the future of the franchise is different than the one I signed up to lead,” Jeter said.

Jeter, who retired in 2014 after 20 seasons and five World Series titles with the New York Yankees, acquired his stake in the Marlins in 2017 with investor Bruce Sherman and others for $1.2 billion. Nearly five years later, the team is valued at $1.12 billion — the lowest in MLB.

Jeter’s tenure as CEO and part-owner of the Marlins saw lackluster results on the field. 

  • The team posted a 218-327 record in the four seasons under Jeter’s watch.
  • They reached the playoffs once during that span in a pandemic-shortened 2020 season. 

Still in the Game 

In 2014, Jeter founded The Players’ Tribune, an athlete-focused media platform. Minute Media acquired the site in 2019, adding the publication to a network of sports media sites that includes The Big Lead, FanSided, and digital esports platform DBLTAP.

Jeter has been working with The Players’ Tribune and MLB to produce “The Captain,” a documentary series from ESPN about the former Yankee that will debut on ESPN and ESPN+ later this year.

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