NEW YORK - OCTOBER 20: Derek Jeter #2 of the New York Yankees turns a successful double play over a sliding Michael Young #10 of the Texas Rangers on a ball hit by Josh Hamilton #32 in the top of the fifth inning of Game Five of the ALCS during the 2010 MLB Playoffs at Yankee Stadium on October 20 2010 in the Bronx borough of New York City. (Photo by Andrew Burton/Getty Images)

Derek Jeter, Yankees Agree On Three-Year Contract With 2014 Option

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Derek Jeter Receives First Contract Offer From Yankees

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.

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