Derek Jeter has proven himself on the baseball field time and again. And now that he has officially retired from the sport, it looks like the baseball icon is set to do the same, except behind the scenes.
For starters, he’s already made a huge sacrifice by giving up his own salary as his baseball team struggles amidst the effects of the coronavirus pandemic.
Executive Pay Cuts
The Miami Marlins CEO is reportedly no longer receiving his $5 million salary as the team faces financial problems. The professional baseball team has notably recorded the lowest revenue, at $222 million, among all other teams playing in Major League Baseball (MLB) last year.
The Marlins are also the sole team whose value is yet to breach the billion-dollar mark. It’s pretty near it though as its current worth is pegged at $980 million.
Still, Jeter might be right to make sacrifices as his team reportedly had a negative $5.9 million operating income.
Luckily, Jeter isn’t the only one to take a massive pay cut. Other executives of the team have also done the same. In fact, executives with stakes in various professional sports leagues have accepted deductions in their salaries.
At the end of the day though, Jeter would be just fine financially, whether he receives his CEO salary or not, given his net worth of $185 million.
The former baseball player’s dedication to the team can be seen from the get-go. After acquiring the marlins in 2017, Jeter immediately got to work to rebuild the team, making wise player trades.
But despite his efforts, the Marlins still finished its first season under the new management last in the National League’s east division. The same outcome was repeated in 2019.
Some fans continue to hold out hope though that Jeter’s own personal experience of five World Series championships with the New York Yankees would get the underdog team through the challenges it’s facing.
League on Pause
The 2020 MLB season was supposed to commence in late March but had to be postponed due to the ongoing pandemic. While this is an all-around unfortunate event, this may give Jeter and his team more time to prepare and come back stronger than ever.
It’s still unclear though when the league would commence its games once again. Various options are currently being explored at the moment.