Miami: Derek Jeter Quits as Marlins CEO Over Conflict in Vision, Gives Up 4% Share in Franchise

On the day of Major League Baseball's deadline to finalize a new agreement and preserve the start of a regular season, Derek Jeter, CEO of the Miami Marlins, is stepping down immediately, he announced Monday in a surprising move.

"The vision for the future of the franchise is different than the one I signed up to lead," Jeter said in a statement sent through a news-release distributor rather than the Marlins.

"Now is the right time for me to step aside as a new season begins," he added.

After being the New York Yankees' shortstop, Jeter joined the Bruce Sherman-led group in 2017, when they purchased the team for $1.2 billion from Jeffrey Loria.

Jeter held a 4% stake in the franchise and earned a $5 million per year salary - a stake he will now give up - but was tasked with overseeing business and baseball operations.

His contract was set to expire after 2022. Jeter, 47, was entering the final season of a five-year contract.

Miami Marlins, Derek Jeter Agreed To End Relationship

Sherman and Jeter came at odds over the amount of his ownership share and the financial commitment to the roster, according to ESPN.

In Sherman's statement, he alluded that Jeter's resignation is a mutually agreed-upon decision. He also thanked Derek for "his many contributions" and wished him luck in his future endeavors.

Kim Ng, the first woman general manager in MLB, will run baseball operations and COO Caroline O'Connor will manage day-to-day business operations while the team works to identify a new CEO to lead the franchise.

The Marlins finished 218-327 in four full seasons under Jeter but surprisingly made the postseason in the COVID-19-shortened 2020 season.

High-priced players such as Christian Yelich, Giancarlo Stanton, J.T. Realmuto, and Marcell Ozuna, were among the trades of Jeter's beginning tenure. He eventually saw the development of players like Jazz Chisholm, Jesus Sanchez, Lewin Diaz, and Sandy Alcantara,

The team lost 95 games in 2021, but ahead of the December 1 lockout, it strengthened its offense by signing Avisail Garcia and trading for Joey Wendle.

Status Of Marlins' Vice President, In Question

Gary Denbo's status appears to be in jeopardy as a result of Jeter's departure.

Denbo, the Marlins' vice president of player development and scouting, was highly counted on by Jeter and is one of several former Yankees in the organization who may opt to leave.

Jeter was a five-time World Series champion with the Yankees, who were among the sport's top spenders every year.

While overseeing a franchise with smaller pockets and shorter contention windows, he claimed to be innately impatient. The Marlins' payrolls have started each of the last three seasons in the bottom four of the league.

This offseason brought hints of a possible transition. Garcia was handed a $56 million contract, while Alcantara and Rojas were granted $66 million contracts. But it appears that the spending would not go much further, a pattern that has endured throughout the 29-year history of the Marlins organization that has failed to attract fans.

Jeter wrote in his statement that as a CEO, he has been "proud to put my name and reputation on the line to make our plan a reality," referring to their vision five years ago to turn the Marlins franchise around.

This article is owned by Latin Post.

Written by: Jess Smith

WATCH: Derek Jeter is stepping down as CEO of the Miami Marlins | #Greeny - from ESPN