Miami Marlins CEO Derek Jeter will forgo his salary indefinitely as his team and other MLB franchises contend with a cash crunch due to the coronavirus pandemic.
Jeter, 45, normally earns a $5 million annual salary as head of the Marlins’ day-to-day operations. He informed team employees about his decision on a conference call Monday, according to ESPN.
The Marlins told baseball operations personnel that they will receive their normal rate of pay through at least May 31. Aside from Jeter, other Marlins front-office executives also took pay cuts.
Like other U.S. sports leagues, MLB was forced to suspend its 2020 season in March in order to comply with federal advice on social distancing and bans on mass gatherings. It’s uncertain if or when it will be safe for MLB and other leagues to resume their seasons.
The MLB season was initially scheduled to start on March 26.
While league officials are considering an array of plans to complete the full 162-game schedule, MLB Commissioner Robert Manfred said last week that any restart would be subject to clearance by public health officials.
“The only decision we have made, the only real plan that we have, is that baseball is not going to return until the public health situation is improved to the point that we’re comfortable that we can play games in a manner that is safe for our players, our employees, our fans and in a way that will not impact the public health situation adversely," Manfred said.
Jeter has served as Marlins CEO since his ownership group purchased the franchise for $1.2 billion in 2017. He contributed $25 million toward the bid.
A fixture at shortstop for the New York Yankees during his playing career, Jeter was named to the Baseball Hall of Fame earlier this year. He earned more than $266 million in salary during his career and tens of millions of dollars more through deals off the field.
