Derek Jeter Forgoing Salary Indefinitely

Derek Jeter

In the “new normal” of COVID-19, there have been a lot of negatives surrounding our daily lives. Recently, Miami Marlins CEO Derek Jeter has cut through that negativity by forgoing his $5 million dollar salary. That annual $5 million earned by Jeter also goes along with his bonus incentives based on the on-field performances.

Marlins Executives Cutting Salaries

Initially reported by Craig Mish, Jeter is forgoing his salary on an indefinite basis. Other high ranking Marlins executives are also cutting their salaries amid the COVID-19 pandemic. All this is done as the Marlins are still evaluating the impact on the business side of things. Jeter’s forgone salary and other cost-cutting measures are in pursuit of avoiding layoffs or inducing furloughs anywhere else within the organization. Per reports, Jeter made his decision via a conference call Monday, telling team employees

All this comes at an interesting time in Major League Baseball. A time the MLB is reportedly set to announce that teams can begin to furlough or cut the pay of non-playing personnel (coaches, scouts, executives). Just before the calendar turned towards April, all 30 clubs agreed to pay all non-player personnel through the end of April. Teams have also pledged roughly $1 million. That’s to help cover lost wages for game day employees while the pandemic puts a pause on things.

Other Franchises

It’s a very positive gesture in a time where negativity reigns. It may have followed along the lines of other teams. Those teams include the Cincinnati Reds, Philadelphia Phillies, Boston Red Sox, San Francisco Giants, and the Chicago White Sox. As for Jeter himself, it’s a noble gesture that he can withstand. After all, he did pocket $265 million across his playing tenure.

The hope is that Jeter and other executives won’t have to continue this gesture. Major League Baseball as a whole still has hopes of salvaging the 2020 campaign. The league has discussed several alternatives to get a season underway. That includes forgoing the traditional NL and AL setups for Grapefruit and Cactus league setups in Florida and Arizona.

Main Image
Embed from Getty Images

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.