Sard Verbinnen & Co. represents the Miami Marlins as its CEO, and former Yankee shortstop Derek Jeter decides to quit and give up his four percent ownership stake in the team.
His departure sent shockwaves through Major League Baseball, which is struggling to hammer out a collective bargaining deal to save the 2022 season, according to ESPN.
Jeter joined the Bruce Sherman-led group that purchased the ball club for $1.2B in September 2017.
He exited because "the vision for the future of the franchise is different than the one I signed up to lead," according to Jeter's statement.
Sherman wished Jeter good luck in his future endeavors and said the Marlins "have a deep bench that will oversee both business and baseball decisions while we work to identify a new CEO to lead the franchise."
Under the leadership of Jeter, a five-time World Series champ as a Yankee, the Marlins owned the worst record in the National League. The team did sneak into the playoffs during the COVID-19-shortened 2020 season.
Sherman claims current ownership is "determined to build a team that will return to the postseason and excite Marlin fans and the local community."
Sard Verbinnen has George Sard, Michael Abrahams and Columbia Clancy fielding media inquiries about the Marlins.