The announcement was abrupt and unexpected in a way that partings of this type seldom are in sports. There was mystery to it as well — Derek Jeter suddenly quitting Monday as CEO of the Miami Marlins.
He had a lot to say on his way out, much of it trying to spin his four seasons with the baseball club as a success. But only one sentence, 18 words, cut to the truth and came close to revealing the why.
“The vision for the future of the franchise is different than the one I signed up to lead.”
Boom. Subtle as a 100 mph fastball under the chin, that verified there is little harmonious about this parting, which a Marlins source of ours described as mutually agreed upon. Jeter’s five-year contract as baseball’s only Black CEO was to expire later this year. He also is relinquishing his 4 percent ownership stake.
Jeter’s statement was released via the PR Newswire, not through the Marlins, another indication of a less-than-amicable parting.
The news hit baseball on the same day MLB and its players union were meeting to try to reach a new collective bargaining agreement in time to play a full 162-game season. MLB has stated Monday is the deadline for a new deal or else regular-season games will be incrementally canceled and not made up.
As the sport tries to find labor accord and play ball, the beleaguered Marlins suddenly must move on without Jeter, the former New York Yankees great and Hall of Famer who has been the charismatic face of the franchise since principal owner Bruce Sherman and Jeter bought the club from Jeffrey Loria for $1.2 billion in 2017.
“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,” said Jeter, 47. “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.”
But then came, “That said,” followed by those telling 18 words about the vision for the future being different than the one he’d signed up to lead.
The statement from the majority owner Sherman was bare bones and rather cold: “The Miami Marlins and Derek Jeter announced today that they have agreed to officially end their relationship. The Marlins thank Derek for his many contributions and wish him luck in his future endeavors.”
The club’s initial vision was to rebuild the minor-league farm system from the ground up, leading to the immediate fire sale that caused stars like Giancarlo Stanton, Christian Yelich, Marcell Ozuna and J.T. Realmuto being traded for prospects.
The plan worked, to a degree. Prospects acquired included Sandy Alcantara, now the team’s ace pitcher. The Marlins’ farm system has gone from one of the lowest ranked to one of the highest, with seven Miami minor-leaguers currently ranked among MLB’s top 100 prospects.
But it hasn’t been enough to make the Marlins a winner yet, and Jeter, unaccustomed to losing during his Yankees career, had grown frustrated, I am told, at Sherman’s hesitation to spend bigger in free agency for veterans to augment the youthful roster and accelerate the turnaround.
The Marlins gave Alcantara a five-year, $56 million contract extension this offseason, and signed former all-star Avisail Garcia to a big free agent deal before the lockout began, but otherwise have been mostly frugal. The team’s player payroll was only $61 million last year, ranking 27th of 30 teams.
All the while, Jeter watched NL East rivals like the New York Mets and Atlanta Braves spend big in free agency while the Fish relied so heavily on their low-salary prospects becoming stars.
In Jeter’s four seasons in charge of baseball operations and the roster, but not always the spending, Miami has a 218-327 record, an even .400 winning percentage, fourth-worst in baseball over that span. The only winning record and playoff season was 31-29 in pandemic-shortened 2020, when the postseason was expanded.
Last year the Marlins slumped to a 67-95 record with a lack of hitting, a problem not solved this offseason with Garcia the only notable free agent addition.
It’s harsh to call Jeter’s tenure a complete failure despite the overall record. He made a trailblazing hire in naming Kim Ng as MLB’s first female and first Asian general manager; she will take over for Jeter in running baseball operations. Jeter also leaves the farm system in enormously better shape than it had gotten under Loria.
The lesson, though, in Jeter’s departure is that a strong farm system isn’t enough. And that — although spending isn’t always a panacea — a $61 million payroll isn’t enough.
Said Sherman: “The ownership group is committed to keep investing in the future of the franchise.”
The investment has not been sufficient.
A new TV deal and ballpark naming rights have added to the Marlins’ revenue stream and profit margins. The money is there for Miami and Bruce Sherman to be a bigger spender and a major player now, instead of spending less and counting so disproportionately on youthful prospects to grow into stars.
Ng and manager Don Mattingly deserve better than that. Marlins players and fans do, too.
And so did Derek Jeter.
