Derek Jeter's Ownership Group Reportedly Plans to Reduce Marlins' Payroll

Tyler ConwayFeatured ColumnistSeptember 3, 2017

BEVERLY HILLS, CA - JULY 11:  General Manager of the Beverly Hills Hotel Edward Mady (L) and NBA player Derek Jeter attend The Players' Tribune Hosts Players' Night Out 2017 at The Beverly Hills Hotel on July 11, 2017 in Beverly Hills, California.  (Photo by Leon Bennett/Getty Images for The Players' Tribune )
Leon Bennett/Getty Images

The incoming Miami Marlins ownership group, spearheaded by majority owner Bruce Sherman and Derek Jeter, plans to significantly reduce the club's payroll after taking over.

Barry Jackson of the Miami Herald reported a potential investor said the club plans to cut payroll by at least $30 million next season. The Marlins could even slash their $110 million payroll in half if they trade star Giancarlo Stanton—a possibility being weighed by Sherman and Jeter.

The potential investor said such cost-cutting measures were being considered before Miami re-entered wild-card contention. The Marlins were five games out of the second National League spot entering Sunday, having lost five of their last six games.

Stanton hit 18 home runs in August and is on pace to hit 62 this season. He's widely considered the favorite for the National League MVP and has already established himself as one of the best players in franchise history.

Jeter's group, however, determined the Miami market won't support a high payroll. Stanton's base salary escalates to $25 million next season, and he's under contract for the next 10 years with salaries between $25 and $32 million.

The Marlins are slated to lose $50 million this season, according to Jackson, who also reported Miami receives the least revenue in baseball from its television contract with Fox and that its front office salaries are "among the highest" in MLB.