Photo: Yanks Go Yard
in ,

Derek Jeter steps down as CEO of the Marlins because of power struggle with ownership and $15 million

Photo: Yanks Go Yard

5 years ago, Derek Jeter joined the Bruce Sherman-led group that purchased the Marlins and became the first and still only black chief executive of a major league team. On Monday, Jeter made the shocking announcement that he would be stepping down as CEO of the Miami Marlins right before year 5 of his contract began. Jeter also is divesting from his roughly 4% ownership of the club, completely severing any ties between him and the Marlins.

“The vision for the future of the franchise is different than the one I signed up to lead. Now is the right time for me to step aside as a new season begins”, Jeter said in a statement.

Unclear to when the disagreement and friction started between the two sides, but sources say that Jeter went into this year’s lockout believing, team chairman Bruce Sherman, had approved the spending of another $10 million-$15 million on player(s). To Jeter’s surprise, that plan was flipped, which made him see that Bruce reneged on a promise and doesn’t want to build towards winning now.

Derek Jeter is a Hall of Fame shortstop who enjoyed an illustrious 20-year career with the New York Yankees. Winning and competing is in Derek Jeter’s DNA. That being said, the Marlins not wanting to win now ultimately drove the wedge between the two.

In four full seasons under Jeter, the Marlins went a combined 218-327, and the beginning of his tenure included the trades of high-priced players such as Giancarlo Stanton, Christian Yelich, J.T. Realmuto and Marcell Ozuna.

Perhaps the two sides are better apart.


Watch Nigerian rising star Zinoleesky’s official video for ‘Rocking’

DaBaby and YoungBoy Never Broke Again unveil video for ‘Neighborhood Superstar’: Watch