Yankees Hall of Fame shortstop Derek Jeter resigned as general manager of the Miami Marlins on Monday, ending an ambitious second career after four and a half years at the helm of one of the baseball’s most vexing franchises.
In a statement, Jeter said he would no longer be an investor or shareholder in the Marlins. He held a 4% stake as part of a group that paid $1.2 billion for the franchise in 2017. The group was led by Bruce Sherman, a wealth management executive from New York.
“We had a vision five years ago to transform the Marlins franchise, and as CEO, I was proud to put my name and reputation on the line to make our plan a reality,” Jeter said.
“Through hard work, trust and accountability, we have transformed every aspect of the franchise, reshaping the workforce and building a long-term strategic plan for success. That said, the vision for the franchise’s future is different from the one I’ve signed up to lead. It’s a good time for me to retire as a new season begins.
The Marlins never won a division title in their 29 seasons, but won the World Series championships in 1997 and 2003. Their only other playoff appearance came under Jeter’s guidance in the expanded format in 2020, when they were 31-29 and won a first-round series against the Chicago Cubs.
Over Jeter’s three full seasons, however, the team lost 98, 105, and 95 games, while continuing the franchise’s pattern of lean payrolls and low attendance. The Marlins ranked 23rd in payroll majors in 2018, according to Baseball Prospectus, and 29th, 27th and 28th in subsequent seasons. Their attendance ranked last in the National League in every year tickets were sold since 2013.
“The Marlins thank Derek for his many contributions and wish him well in his future endeavours,” Sherman said in a statement. “We have a wide array of talent who will oversee both business and baseball decisions as we work to identify a new CEO to lead our franchise. The ownership group is committed to continuing to invest in the future. of the franchise – and we are determined to build a team that will return in the playoffs and excite Marlins fans and the local community.
Jeter has hired several former Yankees officials throughout the organization, including Kim Ng, who became the first female general manager in Major League Baseball history in November 2020.
Jeter’s resignation is another blow to MLB, which locked out players Dec. 2, canceling spring training games and threatening the start of the regular season. Commissioner Rob Manfred hailed Jeter in a statement as a “highly respected voice on our diversity and competition committees” and praised him for hiring women into leadership positions.
“Derek is a pillar of our game and we look forward to his future contributions to baseball,” Manfred said.