December 4, 2010

Jeter agrees to 3-year deal with Yankees

We don’t know exactly how much it’s worth, but we know the deal is done.

UPDATE: Now we do.

Derek Jeter has agreed to return to the Yankees for three years with a fourth-year vesting option.

Jeter’s new contract is worth between $45-51 million, or $15-17 million per season.


The negotiations lasted a month. I’d say the Yankees came out winners here, as they didn’t give into Jeter’s demand of a four-year deal and didn’t pay him more than $20 million per season.

On the other hand, couldn’t the Yankees have just told Jeter to take a three-year, $30 million deal or find somewhere else to play? I highly doubt any team would’ve paid Jeter more than $10 million a season and I don’t think Jeter would retire.

OK, so that move probably would have ticked off Jeter. But why did he have to be so greedy? All he tells the media is it’s always about winning. Well, if he had taken less money from the Yankees they could’ve spent more on another free agent. Sorry, Jeter, but now we know it’s not always about winning with you.

Comments (4)

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Player option pretty much means that the Yankees gave into his demands and bid against themselves. Contract details are here http://bit.ly/hLPD0L
Our long national nightmare is over
I should like to remind Nutball that the guy best known for saying that was unable to get the economy going again in time to save his chance at a full term of his own. Then again, Jerry Ford was a Detroit Tigers fan, and the Yankees did win a Pennant at the end of his Administration, thank you Chris Chambliss.

LenNY, your blog has been added to my list on "Uncle Mike's Musings." You can also check out my what-if site, "Otherwise Sports." Both have tributes today to Chicago's answer to Phil Rizzuto, the late Ron Santo.
It's unclear whether the Yankees overpaid Jeter. Just to make the numbers easy, let's ***ume he would have received $10MM with another team but the Yankees are giving him $15MM. That's $5MM "overpaid". If the average fan pays $100 to attend a game, that's 50,000 fans. It seems possible that if the Yankees had lost Jeter, attendance could have dropped by at least 50,000 fans (on a base of roughly 3.5MM, that would be a small percentage). So maybe the Yankees really did "overpay" by the right amount!

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