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Derek Jeter will get big bonuses if the Marlins turn a profit


Derek Jeter’s baseball legacy is all about winning. The World Series rings, the playoff appearances and being the captain of the winningest team in baseball history as it returned to prominence in the 1990s.

As an owner, Jeter has cut himself a deal that puts profits first. From the Miami Herald’s latest installment of its series on “Project Wolverine,” the business plan drafted by Jeter and the Marlins ownership last summer and fall as they sought approval to purchase the club:

Marlins co-owner Derek Jeter eventually will make back his modest financial investment in the team merely through the salary he is being paid as the team’s chief executive officer.

But he could be paid substantially more than that if the team makes a profit.

According to an August version of Project Wolverine – a document pitching potential investors on joining the Marlins ownership group and shared with the Miami Herald by sources – Jeter will make an annual bonus based on the Marlins being profitable.

Jeter will make an additional $2 million in 2018, $1.7 million in 2019, $1.1 million in 2020, $2 million in 2021, and $2 million in 2022 if the Marlins are profitable in those calendar years. That’s over and above the $5 million salary he’ll make as CEO. The Herald also cites a report that Jeter has an unlimited credit card for Marlins-related expenses including travel from his Tampa home but could not confirm it. Still: fun.

As we’ve noted so often around these parts, baseball is a business, so it’s not necessarily shocking that a guy who bought a baseball team did so to make some money. It’s just shocking how front-loaded and short-term Jeter’s financial incentives are structured. Given that, as Jeter himself as noted, the Marlins are in a competitive and financial mess these days, one would think that a bit of a longer view that has some sort of connection to team success, as opposed to merely short term financial success, would be in order. This looks more like a private equity play than an investment in a baseball team as an ongoing concern.

But what do I know? I just like baseball. Jeter is all about winning. I’ve read that many, many times.

Marcus Stroman: Blue Jays are “f– terrible”

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Blue Jays starter Marcus Stroman strugged in Sunday afternoon’s start against the Red Sox, yielding four runs (three earned) over five innings. He fell to 2-7 with a 5.86 ERA. The Jays dropped three of four games to the Sox in the series and now sit with a 43-52 record heading into the All-Star break.

Steve Buffery of the Toronto Sun reports that while Stroman was initially cool, calm, and collected when speaking to the media after the game, he eventually snapped. Stroman was asked by a reporter about breaking into professional baseball with short-season Single-A Vancouver in 2012. Stroman yelled at the reporter, noting that his team had just lost to the Red Sox, and called his team “f– terrible.” Keegan Matheson’s account of the situation lines up with Buffery’s as well.

Prior to the outburst, Stroman had just praised his teammates, saying, “My team picks me up a ton. They pick me up all year. I should be able to pitch better in times like that when my team doesn’t have my back. Because they’ve had my back a ton of times. So, love my guys on my team and like I said, I would go to war with them any day.”

Stroman will have off until Friday, so hopefully the time off helps him clear his mind. It has understandably been a frustrating season in Toronto.