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Now that Derek Jeter is officially back in pinstripes, an entirely believable report has emerged: Derek Jeter never considered signing with any team but the Yankees. Sports Illustrated's Jon Heyman tweets:
a friend of jeters said he never listened to any o the 5 or so teams that called and never considered leaving #yankees
To many of us, this was painfully obvious, even as Jeter's camp suggested otherwise. In terms of production, and especially at this stage in his career, Jeter was not worth nearly as much as he was charging. He's most valuable as a fan favorite and franchise icon, and in these respects he was far more valuable in New York than he would have been anywhere else. Heyman also reports:
though jeter never sought a market and never considered any other team, about 5 teams called to express interest in signing the #yankeesicon
This is also interesting, as an earlier report stated that Jeter never bothered to present the Yankees with an offer from any other team -- though, of course, "interest" doesn't necessarily mean "an offer." A quick note, though. There's a lot to snark about when it comes to Jeter -- the adulation he enjoys from the media, his vastly overrated contributions on the diamond, his nonsensical Gold Glove win, etc. -- but the man is a one-team player in the age of free agency, and yes, his statistics are worthy of Hall of Fame induction.
After several weeks of drama in the papers, it appears that Derek Jeter has indeed signed a contract to return to the Yankees. The 36-year-old shortstop won't earn the $21 million he made in 2010, but he will nevertheless be paid a considerable sum - more than any other aging shortstop coming off the worst year of his career.
We get some of Jeter's contract details courtesy of Jon Heyman. As one might expect, it's a complicated deal. While it's technically a three-year contract, Jeter has a fourth-year player option for 2014, by which point he will be 40 years old.
If Jeter declines the 2014 option, he will make $51 million. If he picks it up, though, he will make somewhere between $56-68 million, with incentives depending on a point system based on award voting. Jeter would stand to make more money by winning a Silver Slugger award, winning a Gold Glove, or finishing in the top six for the American League MVP.
It would appear that Jeter's base salary will be $16 million for each of the next three years, with a $3 million 2014 buyout in the event that he declines the option.
After a week or two of negotiations, Derek Jeter will be a Yankee in 2011.
According to YES Network's Jack Curry, the deal between Jeter and the only team he's ever known as a Major League Baseball player is "done."
Jeter's 3-yr deal with Yanks is done. He'll make between $15-$17 million a year. 4th yr option isn't guaranteed. Deal contingent on physical
Those figures, if accurate, mean that the player most often associated with the Yankees' winning ways in the past two decades gave the club another big win.
Early reports said that Jeter wanted $22-24 million per year from the Yankees, a substantial increase on his previous salary, and reaction to that report only imagined the Yankees shelling out $17-19 million per year. Now, it seems the Yankees will keep Jeter in pinstripes for less than his previous salary — and for only three years, the club's oft-stated desired contract length.
Jeter's probably getting paid a bit more than he would fetch on the open market, but the Yankees are getting him without paying much of a "Jeter bonus." If this is truly the end of the negotiations, that's a win for the Yankees, and one that lets both parties focus on how to prepare to win in 2011.
After weeks of gamesmanship, Derek Jeter and the Yankees have finally been making great progress in recent hours, as multiple sources are expecting Jeter to sign a new contract with the team as soon as Saturday. Sweeny Murti of WFAN is reporting that the Jeter deal should end up at around $51 million.
Jeter's 3 yr deal will be worth around $51 million. 4th year option is less but contains many elements that will affect final number.
This would certainly be a little more reasonable than the $22-24 million per year that Jeter's camp was reportedly seeking. Meanwhile, CNBC's Darren Rovell has passed along an interesting bit of information:
Team Jeter never presented the Yankees with an offer from another team.
An offer from another team, of course, would have been Jeter's primary means of leverage. Jeter surely would have generated some interest if his price tag was commensurate with his 2010 numbers. Whatever the case, it appears more likely with each passing hour that Jeter will wear pinstripes in 2011.
For more on Derek Jeter and the Yankees blog, check in with SB Nation's Yankees blog, Pinstripe Alley.
After all the drama, it seems we may at last be nearing an end.
The 36-year-old Derek Jeter hit free agency fresh off the worst season of his career. The Yankees offered him three years and $45 million to return, but Jeter and agent Casey Close were looking for more, with reports putting their wishes at four or five years and $22-24 million per season. Clearly, there was an enormous gulf between what Jeter wanted and what Jeter was being offered, and the situation began to make national headlines.
However, the Yankees showed a willingness to increase their offer a little bit while Jeter showed a willingness to lower his demands, and now, according to Sweeny Murti, the two sides are very close to reaching an agreement. Speculation is that a contract could be put in place over the weekend, and while the Yankees aren't likely to give Jeter a guaranteed fourth or fifth year, they could very well provide a fourth year option.
It's important that the Yankees get their negotiations with free agents Jeter and Mariano Rivera squared away, as the Winter Meetings kick off on Monday, and the team would like to have a good idea of how much money they have available to spend as they talk with Cliff Lee and Carl Crawford.
An important step in the negotiations between the Yankees and free agent Derek Jeter has been reached - according to Jon Heyman, the Yankees have increased their offer, while Jeter and agent Casey Close have backed off slightly from their previous demands.
Initially, the Yankees came at Jeter offering three years and $45 million. Jeter and Close, in response, indicated that they'd prefer a longer contract worth something along the lines of $22-24 million a year. There was an enormous gulf between the two parties, which made headlines across the country.
Even so, though, there was an air of inevitability surrounding the talks - that, eventually, Jeter and the Yankees would reach an agreement. And so the fact that the Yankees bumped their offer while Jeter lowered his request is just part of the path towards a certain destination. The Yankees will sign Derek Jeter. It's just a matter of for how long, and for how much.
It seems the likely end to all this is that Jeter signs a three-year contract worth something like $17-18 million a year. A fourth-year option for 2014 is a possibility.
More than a week passed by without the Yankees and Derek Jeter talking to one another. However, earlier Tuesday, we heard that talks would soon pick up once more, and now we get word from Ken Rosenthal that Jeter and agent Casey Close met with Yankees representatives in Tampa Tuesday afternoon.
It's not a surprising development - the negotiations obviously had to continue at some point, as neither side was going to let things end where they were. It's just an indication of progress. After taking a long holiday, both parties are back at it in an effort to get this thing done.
It's worth noting that, according to Jon Heyman, there is now "renewed optimism" surrounding the whole situation. Things kind of got ugly when Jeter's side was demanding far more than the Yankees are willing to pay, but that could and should prove to be little but a brief hiccup in the process, assuming Jeter and the team eventually reach a compromise. This meeting was intended to really get the ball rolling, and once it's going, it shouldn't take too long before they find an agreement.
Heyman also notes that the Yankees may be willing to budge a little from their initial offer, perhaps going so far as to include a fourth-year option.
The Yankees have offered free agent shortstop Derek Jeter a three-year contract worth $45 million. Jeter and agent Casey Close are seeking something longer, at a salary more like $22-23 million per year. It should come as little surprise, then, that talks have recently broken off, as Jeter and the Yankees haven't held contract talks in more than a week.
But according to Newsday, the Yankees are hoping to resume negotiations this week. Taking place next week are the Winter Meetings, during which there will be a flurry of activity and Cliff Lee may choose his destination, and the Yankees are going to want to have as many questions answered as possible in advance. The Winter Meetings would be made all the more tricky by continuing uncertainty over Jeter's future in New York.
It's worth noting that Close and Jeter have yet to submit a formal proposal of their own. While their reported demands have made headlines across the country, they still haven't drawn anything up, and their first proposal may end up being more reasonable than what's been discussed to date.
In the Derek Jeter free agent negotiations, the Yankees made the first move, offering the shortstop a three-year contract worth $45 million. Jeter's side came back requesting a far greater amount, and though the veracity of the six-year, $150 million rumor has been called into question, sources say that Jeter and agent Casey Close asked for a five-year contract worth somewhere between $22-24 million per season.
In other words, the gap between the Yankees and their star shortstop - at least for now - is incredibly wide, as Jeter and Close are seeking many more years and many more millions than the organization appears willing to offer.
However, Jon Heyman has some good news for those hoping for a compromise - the Yankees, sure enough, look willing to up their offer a little bit. The likelihood that they guarantee a fourth year is slim, but they could jump from their current $15 million/year average up to something more like $17-18 million/year. That would still represent a pay cut for Jeter, and he wouldn't get the longevity he's seeking, but it's still far more than he could get from somebody else on the open market.
Despite the relative ugliness of negotiations so far, most everyone around baseball expects the Yankees and Jeter to reach an agreement.
After a week or two of contentious negotiations between Derek Jeter and the Yankees, both presumably in direct contact and through the media, we may have learned why the Yankees' captain is not signed to play in pinstripes in 2011 just yet.
The New York Daily News reports that "sources close" to the Jeter camp — that would be Jeter and agency Casey Close — say Jeter's starting point was a six-year, $150 million deal from the Yankees, and that the $25 million per year of that deal is the truly critical figure.
That's a shade or seven more green than the Yankees have been prepared to shell out. Their three-year, $45 million offer would be dwarfed by even the first two years of Jeter's reported demand — and it would only keep Jeter under contract until he turns 39 in 2013. A six-year deal would mean that Jeter could be in pinstripes until he is 42 in 2016.
Then there's the matter of the money: $25 million a year is an astronomical sum, and the contract would be one of the most massive deals in sports history. Currently, that's "Alex Rodriguez money," and though it may once have been "Derek Jeter money," it is unthinkable that Jeter could command that much per year on the open market.
So Jeter wants to be paid, and very, very well, and the Yankees want to pay him, but only very well, and for a shorter period of time than he would like: we knew all that. But the gap between the two parties may be a gulf, and that might mean a longer, uglier negotiation than anyone expected.
According to Jon Heyman, the Yankees have gone ahead and made the first move. While the team was hoping that Derek Jeter would come to them first and make an initial offer, the front office has elected to kick things off instead by offering Jeter a three-year contract worth $45 million.
As we've noted, this offer is the first, but it's unlikely to be the last, as Jeter is seeking a contract lasting at least four years. He may back down from that demand eventually, but he probably won't back down from it immediately, as there's a whole negotiation process that has to take place. Negotiations generally don't end as soon as they begin.
By starting at three years and $45 million, the Yankees have essentially set the baseline, and will be prepared to move up in order to accommodate their free agent shortstop. One figures they could lock Jeter up by going to four years, but the team would probably prefer to stay at three years and increase the money. A fourth-year option is also possible.
The situation between the Yankees and free agent shortstop Derek Jeter is approaching the initial offer stage, but team president Randy Levine had some interesting words to say on the matter. Most notably, Levine said that Jeter "is allowed to test the market," and that this is "a different negotiation than 10 years ago" - when Jeter and the Yankees worked out their last contract together.
There is, of course, little market for Jeter to test, as teams figure he's going to re-sign with New York and are focusing elsewhere. However, Levine's statement sends a message that the Yankees are prepared to play hardball, and view this strictly as a baseball move. While they're certainly aware of everything that Jeter means to the team and the city, he's also a 36 year old coming off the worst season of his career, and that information isn't lost on the front office. Brian Cashman and company understand that Jeter may be on his last legs.
Joel Sherman reports that the Yankees plan to make their first contract offer very soon - possibly by the end of the week. The offer is expected to be for three years and about $45-50 million, but it won't be accepted, as Jeter wants at least four years. This is simply a necessary first step to drive the talks forward.
We're now a couple weeks into Derek Jeter's first-ever voyage into free agency. He isn't, of course, your typical free agent, as he isn't particularly interested in signing on with another team, but he also isn't Yankees property for the first time in his career, and from the sounds of things, he and the Yankees remain pretty far apart in contract negotiations.
The Yankees would love to get Jeter signed to a three-year contract. The 36 year old is coming off the worst season of his life, but he is just a year removed from batting .334 in 2009. However, Jeter doesn't want to sign something so short, with one source saying that he's set the minimum at four years, with a preference for five or six. Jeter wants to sign the last contract of his life, and he evidently doesn't feel like he's three years away from retirement.
Naturally, this is how negotiations always start, and eventually you have to figure that one side will budge. The longer this goes on, though, the more damaging it could be to the player-team relationship, as neither side wants to feel disrespected.
The Derek Jeter/Yankees situation is not one that looks like it's going to resolve itself easily. Stay tuned.
At 12:01am Sunday morning, Derek Jeter became a free agent for the first time in his professional career. And though the lifetime Yankee is unanimously expected to remain where he is, the two sides must first agree on a contract. Which is tricky, given Jeter's status as Yankee captain and icon, but also as a 36 year old shortstop coming off the worst season of his life.
One thing is clear: in order to reach an agreement, the Yankees will need to pay Jeter more than he's worth for on-the-field reasons alone. Wallace Matthews checks in with what their first offer could look like:
From conversations with two sources, both of whom requested anonymity due to the sensitive nature of the talks, Jeter's offer is expected to be for three years at somewhere between $15 million and $20 million per season.
That would be a slight paycut from his $21 million paycheck in 2010, but still well above the going rate for a shortstop who hit .270 last year and will hit his 37th birthday two weeks before the next All-Star Game.
Earlier rumors had Jeter seeking a longer contract - even something on the order of six years - but an expensive three-year offer could prove to be a good compromise. While neither side is entertaining serious thoughts of moving on without the other, they'll each also settle for nothing less than what's fair.
The 36 year old Derek Jeter has spent his entire career with the Yankees, from the time he was drafted sixth overall in 1992, and from the time he first appeared in the big leagues in 1995. Over the past decade and a half, Jeter has established himself as a team captain and a national icon, a central figure in the team's five world championships.
In February of 2001, Jeter and the Yankees agreed to a ten-year contract that would pay the shortstop $189 million. The deal came with a full no-trade clause and promised to keep Jeter around until the final seasons of his career. However, that contract expired with the Yankees' ALCS elimination by the Rangers, and Jeter is now a free agent. Though nobody expects New York to let him get away, the two sides must now begin talking about a new deal.
You'd think it might be easy for them to work something out, but Jon Heyman suggests otherwise:
Complicating matters is that Jeter is coming off the worst season he's ever had. His .270 batting average, .340 OBP, and .370 slugging percentage were all career lows, and he went just 10-40 in the playoffs. He hit a lot of groundballs, sapping his power, and as a middle infielder at an advanced age, one wonders just how much Jeter has left to contribute on the field.
Which makes this a difficult situation. Jeter as a player is no longer a prime value, and it's unlikely that things get much better down the road. However, Jeter holds a lot of meaning besides what he does on the field, and that's the point he's probably going to emphasize in negotiations. The Yankees won't only have to pay for Jeter the player; they'll also have to pay for Jeter the symbol.
Ultimately, the two sides should get something done that carries Jeter to his retirement. And this being the Yankees, they can afford to pay him more than he's worth with his skills. But it will be interesting to see the figure at which they settle.
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