The Hall of Famer announced Monday that Derek Jeter will step down as CEO of the Miami Marlins and sell his stake in the Major League Baseball franchise.
In a statement announcing the move, Jeter, 47, said that “the vision for the future of the franchise is different than what I carried” when he took over the Marlins.
“Five years ago, we had a vision to transform the Marlins franchise, and as CEO, I took pride in putting my name and reputation on the line to make our plan a reality,” said Jeter. “Through hard work, trust and accountability, we have transformed every aspect of franchising, transformed the workforce and created a long-term strategic plan for success.”
Jeter, a New York Yankees icon, took over as the team’s C-Chef in 2017. The Marlins finished fourth in the Eastern Conference division last year. Once during Jeter’s tenure, the 2020 postseason team made it to a top spot.
According to Forbes magazine, Marlins has a net worth of $990 million.
Marlins chairman and principal owner Bruce Sherman said the club will serve as a commission to manage baseball’s business and operations while it searches for a replacement Jeter.
Sherman also said the team is “dedicated to continuing to invest in the future of the franchise – and we are committed to building a team that will return into the postseason and delight Marlins fans and the local community.”
The news came on the day of the big MLB deadline. Owners have given the players union until Monday to agree to a new deal or opening day and possibly other games will be cancelled.
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