Jack Curry of the YES Network reported on his Twitter feed that The Yankees and Derek Jeter have concluded their negotiations and have come up with the following contract: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.
Curry also notes in his blog post Jeter, Yanks agree on deal:
The fourth year of the deal was important to Jeter, who said in spring training that he wanted to play four or five more seasons. But the Yankees didn’t want to guarantee a fourth year to Jeter, who had the worst season of his career when he batted .270 in 2010 and who will turn 37 years old in June. The sides vowed to be creative in trying to secure a deal, which is why they were finalizing a hybrid option that will include various elements and won’t be fully guaranteed. The sides met deep into the night on Friday and were talking again on Saturday
There it is folks. The contract drama is over. Let's hope there's no bad blood left over from the negotiations. Glad to see #2 will be back in Pinstripes for at least the next 3 years. The amount that I said would be enough to sign him was more than was agreed upon, but as I told a few people after Mariano signed the other day once Rivera signed for 2-years at $15 million per then Jeter would sign for something in the same range. Both players are valuable to the team but some would argue that Rivera is worth more. That is a debate for another day. For now, things are returning to normal in Yankeeland. Next on the docket: Cliff Lee.
FH
For Further Reading
- Click Here to access Jack Curry's blogpage on MyYESNetwork.com
BxBaseballDaily reported the terms of Jeter's contract on his Twitter feed as being as so: Jeter will be paid $13M next year, $14M in '12, and $14M in '13 + $10M deferred. Option is $5M + $9M in poss incentives.
ReplyDeleteJayson Stark of ESPNNew York sheds some more light on the particulars of Jeter's new contract:
ReplyDeleteJeter is guaranteed salaries of $15 million next year, $16 million in 2012 and $17 million in 2013, with $2 million of that money deferred without interest in each of those seasons. But it's in 2014 when the creative player option kicks in, at a salary that could range between $8 million and $17 million, depending on how Jeter plays in the first three years.
The player option for 2014 starts at $8 million. It then can go up by:
• $4 million if he wins an MVP award in 2012, '13 or '14.
• $2 million if he finishes second through sixth in any of those years.
• $1.5 million if he wins a Silver Slugger in any of those years.
• $500,000 if he wins a Gold Glove in any of those years.
• $500,0000 if he wins an LCS MVP award in any of those years.
• $500,000 if he wins a World Series MVP award in any of those years.
There is no limit to how many times he can earn any of those escalator payouts. However, the most he can get paid in 2014 is $17 million, meaning he can earn no more than $9 million in increases. If the option is picked up for any amount less than $17 million, he can also earn any of those amounts in 2014 -- up to a max of $17 million earned.
In addition, the deal contains a $3 million buyout if the option isn't picked up, which brings the guaranteed portion of the contract to $51 million over three years.