Derek Jeter has stood down as Miami Marlins CEO and is relinquishing his ownership of 4%.
Jeter announced he was ending his relationship with the team, saying: "The vision for the future of this franchise is different than the one I signed up to lead."
The Marlins are 66/1 to win the 2022 World Series and Jeter's contract was not due to expire until later this year. Jeter earned a reported $5million annually with the Marlins and he became CEO in October 2017.
Jeter was a Hall of Fame shortstop who enjoyed an illustrious 20-year career with the New York Yankees, joined the Bruce Sherman-led group who purchased the Marlins from Jeffrey Loria for $1.2billion. Jeter was given the task of running business and baseball operations.
In four full seasons under Jeter, the Marlins went a combined 218-327 but surprisingly made the postseason during the 2020 shortened season. The beginning of Jeter's tenure included the trades of high-priced players such as Giancarlo Stanton, Christian Yelich, J.T. Realmuto and Marcell Ozuna.
The Marlins have developed players like Sandy Alcantara, Jazz Chisholm, Jesus Sanchez and Lewin Diaz under Jeter's watch. He also attracted a new naming rights deal and a new TV contract, introduced new uniforms and hired Kim Ng, the first woman general manager in MLB.
Releasing a statement on his official Instagram account, Jeter said: "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.
"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."