Derek Jeter Signs New Contract

[Maxman]

Source: Derek Jeter, Yanks agree

• Email
• Print
• Comments131

By Wallace Matthews and Andrew Marchand

ESPNNewYork.com

NEW YORK -- Derek Jeter agreed to a new contract with the New York Yankees on Saturday afternoon, a source with knowledge of the negotiations said.

Earlier Saturday, two sources said the Yankees and their captain were hoping to finish a contract that would pay Jeter approximately $17 million a year for three seasons with an optional fourth year at a lower salary, although those terms were among the details still to be worked out.

Those terms, obtained through conversations with several sources who requested anonymity, represent a pay cut of approximately $2 million a season from the 10-year, $189 million contract Jeter finished. The Yankees did, however, increase their initial offer of $45 million over three years.

The Captain In Photos

With Derek Jeter a first-time free agent, we look back on The Captain's greatest moments in pinstripes. Photo gallery

More photos: Jeter's World

The women of Derek Jeter

Finishing the deal will allow Yankees general manager Brian Cashman to know exactly how much money he has in his budget heading into the winter meetings, which begin Monday in Orlando, Fla. The Yankees are expected to make a strong bid for free-agent pitcher Cliff Lee and possibly outfielder Carl Crawford.

Jeter was asking for a four- to six-year deal in the area of $22 million to $24 million a year, and he and his agent, Casey Close, seemed surprised by what they considered a lowball offer from the Yankees. At one point, Close described the Yankees' negotiating strategy as "baffling" and implied he felt his client should be treated as if he were Babe Ruth.

Earlier this week, ESPNNewYork.com asked a source involved in the negotiations what it would take to get the deal done. "Jeter and Close need to drink the reality potion" was the reply.

And coming off the worst offensive season of his career since he became an every-day player -- .270 batting average, 10 homers, 67 RBIs and an on-base percentage of .340 -- and without any concrete offers to match even the Yankees' initial offer, Jeter and Close gradually came to alter their demands.

The two sides met earlier this week in Tampa after Close called Yankees owner Hal Steinbrenner to set up the get-together. Jeter was present, as was Steinbrenner, Cashman and team president Randy Levine.

More On The Yankees

Want to get the scoop on everything in pinstripes? ESPNNewYork.com has you covered. Blog

That started the ball rolling. As of Friday night, sources briefed on the negotiations were using terms like "significant" and "terrific" to characterize the tone and progress of the meetings.

And although Jeter had no real leverage, the Yankees also softened their stance. After publicly talking about how they would treat Jeter like any other player in a contract negotiation and judge his value solely on performance -- and pointedly expressing reservations about his age (36) and diminishing range in the field -- the decision to raise their offer even by a couple of million dollars per year is an indication that they were recognizing and rewarding his iconic status in club history.

The proposed new contract would place his average annual salary at about $17 million per year, keeping him as the highest-paid middle infielder in baseball, ahead of the Colorado Rockies' Troy Tulowitzki, who this week signed a 10-year deal worth $157.75 million, an average of nearly $15.8 million per season.

In the end, what happened between Jeter and the Yankees is what many expected to happen from the moment his previous contract expired at the end of the 2010 World Series.

"I think the deal was always going to get done," said a party involved in the negotiations. "It was inevitable that the Yankees and Derek Jeter would stay together. It just took a little time to get to where we all had to be."

That, and a round of reality potion for everyone in the room.

Wallace Matthews and Andrew Marchand cover the Yankees for ESPNNewYork.com.

[Maxman]

Originally I said 4 years - 61 million would be the compromise deal. I wasn't that far off.

[The Troll]

Far too much coin for a declining player.

Pay players for what they WILL DO, not for what they've DONE.

At least it's only three years and not eight like the Soriano albatross.

[Morrissey]

Jeter will continue to be the most overpaid player in the game. Whatever... at least we can move onto more important things. I really wish more players were like Joe D...

[Bugg]

Jeter will continue to be the most overpaid player in the game. Whatever... at least we can move onto more important things. I really wish more players were like Joe D...

Suspect that what ever pride DiMaggio had in his then-pristine image would've disappeared had any club offered him the equivalent of $15 million in 1952. It was simply a different time. Don't fault Jeter for a second for trying to get every last dollar. In fact most big-time players hang on to get that last dime-Ruth,Aaron,Rose, Mantle, Mays, Steve Carlton, Cal Ripken-even if it means "tarnishing the legacy". Where else are you going to make that kind of cash?

[Maxman]

Far too much coin for a declining player.

Pay players for what they WILL DO, not for what they've DONE.

At least it's only three years and not eight like the Soriano albatross.

His last contract was too much as well. They will make it up in merchandise. He retires as a Yankee with 8 rings. Not too shabby.

[Bob]

His last contract was too much as well. They will make it up in merchandise. He retires as a Yankee with 8 rings. Not too shabby.

[Morrissey]

His last contract was too much as well. They will make it up in merchandise. He retires as a Yankee with 8 rings. Not too shabby.

These merch/jersey sales thing is way over blown. MLB shares all merch sales, everything is split down the line, The Royals make just as much money on a Jeter jersey being sold in Modells as the Yankees do, unless it's actually sold in the ballparks, which is obviously a small %.

[Maxman]

These merch/jersey sales thing is way over blown. MLB shares all merch sales, everything is split down the line, The Royals make just as much money on a Jeter jersey being sold in Modells as the Yankees do, unless it's actually sold in the ballparks, which is obviously a small %.

It is merchandise, attendance, the Yankee brand. Right now Jeter is the face of that brand. That is not overblown. And they may share revenue but they are selling plenty of Yankee stuff these days.

[Morrissey]

It is merchandise, attendance, the Yankee brand. Right now Jeter is the face of that brand. That is not overblown. And they may share revenue but they are selling plenty of Yankee stuff these days.

I think the entire thing is overblown. If it wasn't Derek Jeter, it would be someone else. I disagree that he's the "face of the brand" their is no face. The Yankees are the face. Without Jeter, the Yankees are still the Yankees. Jeter replaced Mattingly as the favorite Yankee, someone will replace Jeter, I'm hoping it's Montero.

[Maxman]

I think the entire thing is overblown. If it wasn't Derek Jeter, it would be someone else. I disagree that he's the "face of the brand" their is no face. The Yankees are the face. Without Jeter, the Yankees are still the Yankees. Jeter replaced Mattingly as the favorite Yankee, someone will replace Jeter, I'm hoping it's Montero.

Well there is a bottom line to this. And yes players get old. But there is no SS they could put out there next year that would sell more tickets and shirts for them.

[Morrissey]

Well there is a bottom line to this. And yes players get old. But there is no SS they could put out there next year that would sell more tickets and shirts for them.

Nothing sells more tickets and shirts than winning. If we get the same Derek Jeter from 2010 in 2011...that lessens our chances of winning. I don't care about all this other stuff.

[Morrissey]

It does annoy me that Jeter still needs to be rewarded for things he's done in the past. Guys a great ball player, but he's been paid he's a 40 home run, 120 rbi guy for the past 10 years. Why? Because he's been a great player for the New York Yankees. He's been getting million endorsments because he's been a great player for the New York Yankees. By the way, the Yankees don't see any of that endorsment money. If the Astros drafted Jeter and not the Yankees, while putting the same numbers up in Houston, he'd be Craig Biggio. A great player, a hall of fame player, but not an immortal. He got the $190 million contract and the million dollar endorsments because of where and who he plays for. Did the Yankees need Jeter over the years? You damn straight the did, but he's Derek Jeter because of the Yankees. Yankees aren't the Yankees because of Derek Jeter.

[Maxman]

Nothing sells more tickets and shirts than winning. If we get the same Derek Jeter from 2010 in 2011...that lessens our chances of winning. I don't care about all this other stuff.

Well it isn't a Madden draft and the Yankees care about the other stuff (money). They are really good at that side which is why Cliff Lee will soon be a Yankee. There is more to this than the numbers on the field. Not sure how old you are but I think you are yoo young to have seen the '78 Yankees play. The Bronx Zoo. Well after that '78 team there was a long drought. A really long drought. You know the Yankees, so you know when it ended.

Derek Jeter's rookie year.

Maybe he is just the luckiest guy alive. I think it is more than that. Either way, we won't have to find out, Jeter goes out with 3 more rings, retires with 8 as a Yankee.

1st Ballot Hall of Famer.

[Maxman]

It does annoy me that Jeter still needs to be rewarded for things he's done in the past. Guys a great ball player, but he's been paid he's like 40 home run, 120 rbi guy for the past 10 years. Why? Because he's been a great player for the New York Yankees. He's been getting million endorsments because he's been a great player for the New York Yankees. By the way, the Yankees don't see any of that endorsment money. If the Astros drafted Jeter and not the Yankees, while putting the same numbers up in Houston, he'd be Craig Biggio. A great player, a hall of fame player, but not an immortal. He got the $190 million contract and the million dollar endorsments because of where and who he plays for. Did the Yankees need Jeter over the years? You damn straight the did, but he needed he's Derek Jeter because of the Yankees. Yankees aren't the Yankees because of Derek Jeter.

And who is saying otherwise?

Jeter is fortunate to have been drafted by the Yankees. He is proud to be a Yankee. And he has treated this franchise with respect and dignity the entire time he has been here. He wanted more money? Shocking.

You work for a company that pays Carl Pavano to do nothing for four years and you are going to try and get a few extra dollars yourself. At the end of the day they settled damn close to what I said they would weeks ago. Jeter will get to retire a Yankee. This is a good thing.

[Morrissey]

And who is saying otherwise?Jeter is fortunate to have been drafted by the Yankees. He is proud to be a Yankee. And he has treated this franchise with respect and dignity the entire time he has been here. He wanted more money? Shocking.

You work for a company that pays Carl Pavano to do nothing for four years and you are going to try and get a few extra dollars yourself. At the end of the day they settled damn close to what I said they would weeks ago. Jeter will get to retire a Yankee. This is a good thing.

Everyone who is saying the Yankees should give Jeter whatever he wants. I've been hearing it for 2 weeks. And because the Yankees have made mistakes in the past with the Kei Igawa's of the world doesn't mean they should throw away money in other areas. Let me ask you this.

If Hanley Ramirez was a free agent right now. Would you have signed Jeter or would you have let him walk and signed Ramirez?

[Morrissey]

By the way, in their prime.

Bernie Williams > Derek Jeter

[Maxman]

By the way, in their prime.

Bernie Williams > Derek Jeter

When was Bernie's prime? I loved Bernie. But let me tell you this, that man learned the game at the major league level. He had no baseball instincts. A ton of talent though.

Mel Hall gave his a rash of sh*t back in the day though. Really think Bernie almost didn't survive that. (The Yankees also haven't had a clubhouse run wild since Jeter has been on the team).

[Maxman]

Everyone who is saying the Yankees should give Jeter whatever he wants. I've been hearing it for 2 weeks. And because the Yankees have made mistakes in the past with the Kei Igawa's of the world doesn't mean they should throw away money in other areas. Let me ask you this.

If Hanley Ramirez was a free agent right now. Would you have signed Jeter or would you have let him walk and signed Ramirez?

I would have resigned Jeter. I don't mess with things that are working. I truly believe you can't just buy the best players and have it work.

But I don't think they should have given Jeter whatever he wanted. No way. Think this was a decent compromise. Jeter got more than any team would have offered. He never entertained any other calls. It was a nice compromise with the Yankees realizing that they overpaid. But not to the extent of 20 million plus.

[Morrissey]

When was Bernie's prime? I loved Bernie. But let me tell you this, that man learned the game at the major league level. He had no baseball instincts. A ton of talent though.

Mel Hall gave his a rash of sh*t back in the day though. Really think Bernie almost didn't survive that. (The Yankees also haven't had a clubhouse run wild since Jeter has been on the team).

Bernie's prime was '95-'02. That 7 year stretch he was the best CF in the game not named Griffey. He and Jeter are equals in my opinion, when you look at their careers. Jeter has been more consistent, but I'll take Bernie at his best over Jeter at his best. Bernie Williams by the way, is my all-time favorite Yankee.

[Maxman]

Bernie's prime was '95-'02. That 7 year stretch he was the best CF in the game not named Griffey. He and Jeter are equals in my opinion, when you look at their careers. Jeter has been more consistent, but I'll take Bernie at his best over Jeter at his best. Bernie Williams by the way, is my all-time favorite Yankee.

I remember being at games his first few years and watching him run the bases. On first he just seemed afraid to try for 3rd on a base hit. But he put it together big time and was a huge part of those Championship teams.

His arm was much better when he came up originally as well. Class act.

[AFJF]

Jeter will continue to be the most overpaid player in the game. Whatever... at least we can move onto more important things. I really wish more players were like Joe D...

More like Joe D in what way? I've read several articles on how Joe D. was the first ever player to hold out for a pay raise.

[Klecko73isGod]

Bernie's prime was '95-'02. That 7 year stretch he was the best CF in the game not named Griffey. He and Jeter are equals in my opinion, when you look at their careers. Jeter has been more consistent, but I'll take Bernie at his best over Jeter at his best. Bernie Williams by the way, is my all-time favorite Yankee.

+1 Bernie was the ******* man! I hope Hank and Hal get their heads out of their asses and retire his number soon.

[Morrissey]

More like Joe D in what way? I've read several articles on how Joe D. was the first ever player to hold out for a pay raise.

More like Joe D, retire before you are shell of your formerself. Joe D was too proud to let people see him decline as a player.

[AFJF]

More like Joe D, retire before you are shell of your formerself. Joe D was too proud to let people see him decline as a player.

Gotcha. I thought you meant negotiationg the deal. Good point.

[SenorGato]

Bernie's prime was '95-'02. That 7 year stretch he was the best CF in the game not named Griffey. He and Jeter are equals in my opinion, when you look at their careers. Jeter has been more consistent, but I'll take Bernie at his best over Jeter at his best. Bernie Williams by the way, is my all-time favorite Yankee.

Bernie Williams = The mf'ing man. I've got his rookie card and everything...

[Vudu]

Hooray grounding into Double plays and leading the league in outs!