clock menu more-arrow no yes mobile

Filed under:

Derek Jeter to forgo Marlins CEO salary indefinitely, continue paying baseball ops through May 31

Anticipating millions of dollars in lost revenue due to COVID-19, Marlins executives are limiting the franchise’s expenses by electing to take pay cuts themselves.

By Ely Sussman

If you buy something from an SB Nation link, Vox Media may earn a commission. See our ethics statement.

Derek Jeter News Conference Photo by Mark Brown/Getty Images

We are nearly one month past the originally scheduled 2020 MLB Opening Day with no revised plan in sight. A full year without baseball is a growing possibility, and even the best-case scenario at this point would involve an abbreviated schedule and no fans in attendance. As a result, tens of millions of dollars in revenue that the Marlins projected to get from sponsors and consumers won’t be coming in. With the unemployment rate soaring across all industries during the coronavirus pandemic, the team’s staff worries for their own job security.

In an admirable effort to limit the damage done to his most vulnerable workers, CEO Derek Jeter has decided to forgo his salary, Marlins insider Craig Mish reported Monday morning.

Jeter otherwise would have earned $5 million from his role, per internal Marlins documents, plus a seven-figure bonus contingent on the franchise being profitable each year (which is doubtful under these circumstances).

Personal sacrifices by Jeter and fellow top executives benefit the rest of the baseball operations department, all of whom will continue to receive full pay through May 31. The Marlins join the Braves, Giants and Phillies in honoring those commitments for an additional month; previously, all 30 teams announced that their employees would be compensated through at least the end of April.

This news coincides with Major League Baseball’s decision to suspend Uniform Employee Contracts effective May 1, as first reported by Ken Rosenthal of The Athletic. That provides teams the option of furloughing employees or reducing their pay, Rosenthal explains.

Related to COVID-19, the Miami Marlins Foundation launched the Home Plate Meals Relief Fund several weeks ago, investing $100,000 and partnering with Feeding South Florida to coordinate drive-through food distribution events. The franchise has also served meals to frontline workers and donated Marlins merchandise to be made into protective masks.

More From Fish Stripes