Derek Jeter Made so Much Money He Bought the Miami Marlins
For two decades, Derek Jeter was the face of the New York Yankees. The smooth-moving shortstop ranked as one of the most recognizable stars while playing for arguably the most marketable sports franchise in the world. While his playing days ended six years ago, Derek Jeter still has a deep connection with baseball as a co-owner and CEO of the Miami Marlins.
Derek Jeter spent his entire career with the New York Yankees
When you think of the Yankees, you think of Derek Jeter. The New Jersey native stayed close to home and ended up becoming perhaps the most iconic player in franchise history other than Babe Ruth. The 6-foot-3, 195-pounder earned MLB Rookie of the Year honors in 1996 after batting .314 while helping the Yankees win the World Series.
That simply set the stage for what turned out to be a Hall of Fame career. As the captain of the most successful team in baseball, Jeter showed tremendous heart, intelligence and moxie throughout his career. The 14-time All-Star proved to be a clutch hitter as well as an adept defender.
Even with Alex Rodriguez stealing some of the national spotlight, Jeter truly earned his stripes. New York’s No. 1 star rarely missed games and always shined in the postseason. The four-time World Series champion hit an incredible .308 in 158 playoff games. Jeter earned MVP honors after hitting .409 against the New York Mets in the famous Subway Series.
Hall of Fame shortstop made $266 million
Consistency made Jeter one of the top stars of his era. He routinely hit over .300 and scored runs at a prolific pace. For all of his efforts, he certainly got paid handsomely. According to Spotrac, Jeter earned $266 million during his illustrious MLB career. However, he didn’t immediately break the bank despite flashing early glimpses of his immense potential. In fact, he made just $130,000 as a rookie.
Years of high-level production enabled Jeter to move up the financial ladder. After shining in the 2000 World Series, he earned a massive raise. The Yankees inked their franchise icon to a 10-year, $189 million contract right after A-Rod got his record-setting $252 million deal. At his peak, he earned $21 million in 2010.
Following his age-40 season, Jeter finally put down his glove and bat. However, he didn’t have to wait long to get immortalized in Cooperstown. Derek Jeter got inducted into the Baseball Hall of Fame in 2020. He missed out on becoming a unanimous selection by one vote.
Jeter helped buy the Miami Marlins
A number of athletes have utilized their massive earnings to purchase ownership stakes in professional sports franchises. David Robinson used his wealth to make the San Antonio Spurs a permanent part of his portfolio. MLB legend Mike Piazza even tried his hand at sports ownership. And of course, Michael Jordan went from owning NBA opponents to running the Charlotte Bobcats.
Like his peers, Derek Jeter decided to take the plunge into sports ownership. In September 2017, the former Yankees star and a group of investors purchased the Miami Marlins for the tidy sum of $1.2 billion. According to Business Insider, Jeter contributed $25 million toward the transaction.
Unfortunately, as CEO of the Marlins, Jeter has been unable to replicate his success as a player. Within a few months of the ownership change, the Marlins traded away their two best players. Giancarlo Stanton got shipped to the Yankees despite signing a $325 million contract just a few years earlier. In January 2018, the Marlins also got rid of Christian Yelich, who ended up winning the NL MVP award that season. Under Derek Jeter’s watch, the Marlins have lost 203 games and watched their attendance totals plummet since 2018.
Statistics courtesy of Baseball Reference