On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including Derek Jeter’s separation from the Miami Marlins. The former All-Star shortstop is stepping down as CEO of the team and has already sold his 4% stake in the MLB franchise.
Jeter invested in the Marlins five years ago when a group led by Bruce Sherman purchased the team. Like all major U.S. sports teams, the Marlins have appreciated dramatically in value in the past five years. Jeter reportedly paid about $25 million for his 4% stake, and it’s now worth about $45 million, according to Sportico‘s valuations. He also collected a multimillion-dollar annual salary while serving in the front office.
The hosts also discuss the sale of the Denver Broncos, expected to be one of the biggest sports business stories of the year. Leagues always have preferences when it comes to new franchise owners—they often involve financial, geographic or diversity considerations—but estate sales like the Broncos’ leave the NFL a lot less control over who eventually ends up owning the team.
Lastly, the hosts talk about Russian billionaire Roman Abramovich, who is stepping away from Chelsea as part of the fallout over Russia’s invasion of Ukraine. Abramovich purchased Chelsea in 2003, and the club is now worth $3.35 billion, according to Sportico‘s numbers.