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Derek Jeter, 47, steps down as Marlins CEO and announces plans to sell his shares in the club

BREAKING: Derek Jeter, 47, steps down as Marlins CEO and announces plans to sell his ‘4% stake in the club worth $45million,’ saying the franchise’s future is ‘not’ the one he envisioned when he took over in 2017

  • Derek Jeter has announced that he is stepping down as Miami Marlins CEO and will sell his stake in the team due to differing visions of the club’s future
  • The 47-year-old Jeter has been the team’s chief financial officer since 2017
  • Jeter oversaw vast payroll reduction and the hiring of general manager Kim Ng, the first woman to hold that title in any of the four major US sports leagues 
  • Jeter owned about 4 percent of the team, according to Sportico, which values the Marlins at an MLB-low $1.12 billion, making his shares worth $45 million
  • He explained his decision by hinting at internal differences at the club: ‘The vision for the future of the franchise is different than the one I signed up to lead’


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Baseball Hall of Famer Derek Jeter has announced that he is stepping down as Miami Marlins CEO and will sell his stake in the team due to differing visions of the club’s future.

The 47-year-old Jeter has been the team’s chief financial officer since 2017, and has overseen vast payroll reduction and the hiring of general manager Kim Ng, the first woman to hold that title in any of the four major US sports leagues.

‘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,’ read Jeter’s statement. 

Jeter owned about 4 percent of the team, according to Sportico, which values the Marlins at an MLB-low $1.12 billion, making the outgoing CEO’s shares worth around $45 million. Jeter reportedly paid $25 million for his stake in 2017, making his profit around $20 million over five years. 

Baseball Hall of Famer Derek Jeter has announced that he is stepping down as Miami Marlins CEO and will sell his stake in the team due to differing visions of the club’s future

Jeter, a 14-time All-Star and five-time World Series champion with the Yankees, explained his decision by hinting at internal differences between him and the Marlins' front office

Jeter, a 14-time All-Star and five-time World Series champion with the Yankees, explained his decision by hinting at internal differences between him and the Marlins’ front office

‘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. Through hard work, trust and accountability, we transformed every aspect of the franchise, reshaping the workforce, and developing a long-term strategic plan for success.’

Jeter, a 14-time All-Star and five-time World Series champion with the New York Yankees, explained his decision by hinting at internal differences between him and the Marlins’ front office.

‘That said, the vision for the future of the franchise is different than the one I signed up to lead,’ Jeter wrote. ‘Now is the right time for me to step aside as a new season begins.

‘My family and I would like to thank our incredible staff, Marlins fans, Marlins players, and the greater Miami community for welcoming us with open arms and making us feel at home. The organization is stronger today than it was five years ago, and I am thankful and grateful to have been a part of this team.’ 

CEO Derek Jeter of the Miami Marlins talks with general manager Kim Ng during the seventh inning against the New York Mets at loanDepot park on May 23, 2021 in Miami. Ng, who was hired by Jeter in 2020, is the first woman to serve as GM of a major US sports franchise

CEO Derek Jeter of the Miami Marlins talks with general manager Kim Ng during the seventh inning against the New York Mets at loanDepot park on May 23, 2021 in Miami. Ng, who was hired by Jeter in 2020, is the first woman to serve as GM of a major US sports franchise 

Commissioner Rob Manfred responded to Jeter’s announcement with a statement of his own:

‘On behalf of Major League Baseball, I thank Derek for his service to the Marlins, the communities of Miami and the game. Derek is a winner on and off the field. In addition to his valuable contributions as a front office executive, Derek was a highly respected voice on our Diversity and Competition Committees. 

‘He helped build a talented front office with the Marlins, including move the game forward by hiring women in top roles in the Club’s baseball operations and executive leadership, and a foundation that has positioned the Marlins for long-term success. Derek is a pillar of our game and we look forward to his future contributions to Baseball.’

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