Is there anything in baseball that Derek Jeter hasn’t done or can’t do? Often under the radar, Jeter is a mogul in the making.
First things first, let’s quickly remind you of some of Jeter’s impressive baseball career accolades: Five time World Series Champion, World Series MVP, 14-time All Star, five time Gold Glover, New York Yankees Captain, and Rookie of the Year, among other things.
Baseball aside, Jeter has done quite well for himself off the field. According to Forbes, Jeter earned upwards of $400 million over the course of his career endorsing partners such as Nike’s Jordan Brand, Gatorade, Rawlings, Movado, and Steiner Sports.
Now, Jeter is building his own brands and making his own moves. Once retired, Jeter wasted no time is starting his publishing career by launching The Players’ Tribune, a venue that allows professional athletes to voice their perspective of the game. However, that was only Jeter’s first move.
Jeter’s biggest move to date is becoming part owner of the Miami Marlins by putting up 2.1% of the necessary funds to purchase the franchise from former owner Jeffrey Loria, an American art dealer. In this new venture, Jeter will also assume the role of President/CEO of Baseball Operations. Remember, this is a guy that’s only a couple of years removed from the game. Not Jordan, not Magic or any other former player can proclaim such a victory in as short amount of time. Though we assume that peers Kobe Bryant and LeBron James are eyeing such a business move with keen eyes as they look to their own futures.
The move to become part-owner of the Miami franchise is no small feat. In fact, it’s a big coup for Jeter. First, the team plays in the biggest Latin American market of any baseball team to date. Second, the team was poorly run by it’s previous owner and has potential to grow into something akin to the Yankees of the south. Remember, Jeter studied under one of the greatest baseball business minds in modern day history in George Steinbrenner. It wouldn’t surprise me if Jeter’s other venture, The Players’ Tribune, takes on a bigger media role in the Marlins acquisition. This would follow the model that Steinbrenner began and current technology mogul Jeff Bezos is perfecting by mixing media assets with other core business.
Jeter’s an extremely buttoned-up character, so it’s hard to say what he’s thinking or what his next move will be. For now, we do know one thing and it’s that Derek Jeter is back in the captain’s seat once again.
(This article was originally published on August 14, 2017)