Dec
04

Report: Jeter, Yanks agree to new deal

By

Update by Mike: It’s a done deal, says RAB fave Jack Curry. It’s a three-year contract worth a guaranteed $51M with a fourth year player option for $8M. Jeter can also earn an additional $9M in incentives that final year, and there’s a $3M buyout of the option (so $16M per season). Jon Heyman explains that the incentives are based on finishes in the MVP, Silver Slugger, and Gold Glove voting. I don’t like the player option at all; Jeter might as well pick it up now.

Original post by Ben (12:55pm ET): According to George A. King III, the Yankees and Derek Jeter will “finalize a three-year deal today.” The two sides are haggling over the final details of a contract that will guarantee Jeter up to $17 million a year. As Jack Curry reported earlier, both Jeter and the recently re-signed Mariano Rivera have agreed to defer money to move the process along.

According to King, “The contract includes a tricky option for a fourth season, neither a vesting situation nor a club option. It is linked to what happens across the three guaranteed years.” Late last night, WFAN’s Sweeney Murti reported that the option would probably be worth around $10 million, bringing Jeter’s total package to a potential four years and $61 million.

In one sense, the Yankees are bidding against themselves for Jeter. No other team has put in an offer, and comparable players are signing for less than 50 percent of what Jeter will earn annually. On the other, though, by upping the offer to $17 million a year for the next three seasons, the Yanks have ensured that Jeter will earn a higher salary than A.J. Burnett. That fact was a sticking point for many.

Ultimately, even though this deal was inevitable from the day the Yanks lost the ALCS, this is a gamble for the team. Jeter will be playing his age 39 season in the final guaranteed year of this contract and will be 40 for the option year. Despite his declining range, there are no plans to move him off short and no obvious landing spots either. We can live with the dollars and the short term, but we’ll have to hope that Jeter’s career-worst .270/.340/.370 was an aberration and not a sign of things to come.

Meanwhile, by wrapping up this deal ahead of the Winter Meetings, the Yanks have all but assured themselves a singular focus in Orlando. Cliff Lee, you’re next.

Additional reporting by Mike Axisa.

Categories : Hot Stove League

118 Comments»

  1. Clint Holzner says:

    Could have been much worse, happy its over.

  2. Anthony Murillo says:

    My main concern was over the years. I didn’t want to see Jeter make $20MM annually, that’s just absurd but I really, really, really (x10000) did not want to see him stay for another 4-6 seasons. Hopefully after the 3 year contract is up, he retires gracefully.

    • Chris says:

      Hopefully after the 3 year contract is up, he retires gracefully.

      Hopefully, he rebounds over the next 3 years and plays well enough to earn a new contract in 3 years. As long as he’s a productive player, I hope he doesn’t retire. I would love to see Jeter play for the Yankees for 6 or 8 more years, but he has to be good enough to deserve it.

      • What position would you have 43 year old Derek Jeter playing?

        • Chris says:

          If he’s still effective? SS.

          Chances are he won’t be, but I HOPE that he will be effective, and can still play regularly.

          • In the history of baseball, there have been 0 43-year-old short stops. It’d be great if Jeter could defy time, but history isn’t on his side. That’s my biggest worry about this deal and his role on the team.

            • Chris says:

              There were also no teams that won the WS with a 35 year old SS before last year. Things change. The chances of him being effective in 8 years are pretty slim, but not (quite) impossible.

              And even if the chances are microscopic I can still hope, right?

              My main point is that if I’m hoping for something, then I’m going to spend my time hoping that Jeter is good and earns this contract and another one, rather than hoping he’s just bad enough (but not too bad) too feel the need to retire in three years.

              • Personally, I’m hoping that he’s good enough for us over the next three years to consider extending his contract, but that by the time that comes, we’ve already developed an in-house replacement (Culver? Gumbs? Pirela?) advanced enough as a prospect that we politely nudge Jeter into retirement and turn the page into the future.

                • Chris says:

                  Maybe Jeter would stick around to mentor the young kids and help them adjust (they can split playing time too).

                  Ehhh…that’s probably too much to hope for.

                • RL says:

                  Hope he doesn’t have to be “politely nudged” at that time. I’d prefer he realizes it’s time to go (whenever that is, 3, 4 or 5 years from now) and does so without any drama.

              • OldYanksFan says:

                Dude… you realize the difference between a 35 yr old SS and a 39 yr old SS, is the same as the differnece between an ‘A’ cup and a ‘DD’ cup, right?

                Meaning… HUGE differnce.

                • Chris says:

                  I’m not suggesting it’s likely. I just hope that it happens.

                  And I’m not sure there’s that big a difference between 36 and 39 for a SS. In the last 40 years, there were 6 players age 36 that played 50% of their games at SS and qualified for the batting title (3 with an OPS+ over 90). In the same time, there were 3 players age 39 that met the same criteria (1 with an OPS+ over 90). That’s a 50% attrition rate.

                  Looking at the other positions, it actually looks ok (players age 36/players age 39):

                  C: 1/1
                  1B: 20/7
                  2B: 12/3
                  SS: 6/3
                  3B: 18/0
                  LF: 13/3
                  CF: 11/3
                  RF: 16/2

                  (Boy, this doesn’t bode well for A-Rod….)

              • Maris61 says:

                Pee Wee Reese was 36 when Brooklyn won the Series in 1955.

            • Sick Nwisher says:

              In the history of baseball, there have been 0 43-year-old short stops

              I thought Omar Vizquel was 49 :)

            • Poopy Pants says:

              It’s also a different world regarding health and how people take care of themselves.
              Although, Jeter constantly playing while injured (instead of taking a week off to help heal) probably can’t help things.

      • OldYanksFan says:

        HEY BEN!!! Do you have any Reality Potion laying around for Chris?

  3. I’m beginning to wonder how truthful all of these rumors about what Close/Jeter wanted are. The media really tried to side with one or the other, and turn the ‘wrong’ side into the bad guy. This deal is exactly what the Yankees planned, with tiny bit extra… nowhere close to that 6-year deal, or the $20 plus millions of dollars Jeter supposedly wanted.

    • Zack says:

      Considering Close was “baffled” by 45m and nothing really happened for a few weeks, it’s not unreasonable to believe they were looking for 100m+. And it’s not like Jeter has been like Andy and thinking about retirement.
      I said it last night, there was no pressure on the Jeter camp to move towards the middle until those leaks happened, after that they only had the “blank check” crowd left on his side.

  4. Betty Lizard says:

    O Captain my Captain! our fearful trip is done.
    The team has weathered rumor’s shoals, the years we sought are won,
    The contract’s near, the Twitters clear, the fans are all exulting,
    While follows Close the steady keel, the Cashman grim and daring.

    But O Lee! Lee! Lee!
    Through antlers bleeds my heart!
    When shall we see you in New York,
    In pinstripes, at the start?

    (h/t Walt Whitman)

  5. Kiersten says:

    I know Mike is convinced that Derek Jeter will never be moved down in the lineup, but the Yankees are smart. They want to win. Does anyone else think this will be his last year at lead off, if he even makes it that long?

    • Dirty Pena says:

      Absolutely. I disagree with the people who suggest the Yankees are going to acquiesce to Jeter no matter what. If he’s playing at a really, really low level, the Yankees won’t sacrifice winning to make him happy.

    • Sayid J. says:

      Definitely possible. It was only 2 seasons ago when the writers here as well as the commenters continually stated that Derek Jeter and Johnny Damon would never switch spots in the lineup because they were stubborn despite Jeter being better suited to hit leadoff and Damon for the #2 hole. I think Jeter will definitely start the season leading off and will probably remain there for a while, but only due to a lack of a viable alternative. I know, Brett Gardner. I’m not sure the Yankees are sold on him and I’m guessing they want to see him produce for another year before making the move. If Jeter and Gardner both put up seasons similar to last year in 2011, I wouldn’t be the least bit surprised if Gardner lead off in 2012.

    • Mike HC says:

      I think Jeter will get the benefit of the doubt going into Spring Training and maybe the beginning of the year. He has to perform though and it will not be like last year where he got the entire season.

      Also consider that Jeter hit lefties very well last year and is a better lead off option vs lefties than Gardner or Granderson. Against righties, if his struggles continue, it might be smart to drop him. Time will tell how much he has left. I think he will be back close to career avg’s though, maybe slightly less. Just a guess.

      • Kiersten says:

        Agreed. If 2011 Jeter is the same as 2010 Jeter, I have no problem with him leading off vs. lefties. But against righties it should be Gardner if he’s doing well, or Granderson.

  6. Esteban says:

    The question everybody’s asking: How will Hughesus Christo attack the Yankees for this one?

  7. JCK says:

    This is basically what I guessed would happen…. *pats own back*

    http://riveraveblues.com/2010/.....nt-1323046

  8. Andy In Sunny Daytona says:

    Meanwhile, by wrapping up this deal ahead of the Winter Meetings, the Yanks have all but assured themselves a singular focus in Orlando. Cliff Lee, you’re next.

    Have you forgotten the all important Rule V Draft. A chance to get a Tuffy Goosewich for $50,000 doesn’t come along every day.

  9. A.D. says:

    This was basically a no win situation for the Yanks, but they were able to get not too screwed

  10. Nigel Bangs says:

    Jete’s forehead vein is really getting pronounced in this old age.

  11. Reggie C. says:

    Dj’s got to pay for a wedding and prenup lawyers. It’s going to be an expensive 2012 for the old man.

    In all seriousness, lets hope DJ can approximate career averages for at least one more season. I’d gladly take 1 all-star season out of 3. Nobody knows the mechanics of the 4th year, but at age 39 , he’ll probably already be in a platoon position. I doubt Cashman would stand pat and not upgrade the SS position, ESPECIALLY if someone worthwhile ‘comes available.

  12. hlrjr says:

    glad this is finally over. by the time this deal is done, hopefully culver is MLB ready (or really close to it).

  13. Accent Shallow says:

    Despite his declining range, there are no plans to move him off short and no obvious landing spots either.

    Not to mention no obvious in-house SS candidates.

  14. According to King, “The contract includes a tricky option for a fourth season, neither a vesting situation nor a club option. It is linked to what happens across the three guaranteed years.”

    I have no idea what that means. If it’s linked to what happens across the three guaranteed years, isn’t that a vesting situation? If there are conditions that can be met (or not met) across the three guaranteed years that enables a fourth contractual year, that’s a vesting situation.

    Even if the only thing that vests is a contractual option (either for the player or the club) that can still be accepted or declined, it’s still a vesting situation.

  15. Matt DiBari says:

    Our long national nightmare is over.

  16. Dan says:

    What does it mean when they agreed to defer money ?

    • Mike HC says:

      I’m guessing that it means Jeter will get a larger percentage of the total contract value the last couple of years of the deal rather than year one.

      • No, that’s backloading.

        Deferred money means a portion of the salaries they agreed to isn’t actually due during the year it would normally be due.

        Mo signed a 2yr/30M deal, but if, say, 5M of each year is deferred, the team would only have to pay him 10M up front in 2011 and 10M up front in 2012 and the remaining 5M per would be due at some later date (say, 2013 or 2014 or even later, like the Bobby Bonilla deferred payments that just started getting payed out now, a decade after his retirement).

        It means that the team has to pay less money up front during the life of the actual contract, but that the team will have to pay some “dead money” down the road after the player is no longer with the organization (or under the original contract, at least).

        • Mike HC says:

          That makes sense. Thanks.

          • Manny Ramirez’s deal is the most recent big money deal I can think of that included deferred money.

            He signed for 25M for 2009 and 20M for 2010, but he only got 10M of that first 25M up front in 2009 (the remaining 15M was due in three 5M payments each June 30 of 2010, 2011, and 2012) and he only got 5M of the second 20M up front in 2010 (the remaining 15M was due in two payments of 3.3M in 2011 and 2012 and a final baloon payment of 8.3M in 2013).

            (Cot’s FTW.)

    • pat says:

      Deferred money is what pays Bobby Bonilla a million bucks from the Mets every year.

  17. Mike HC says:

    In the grand scheme of things, this actually went down relatively quick and painless. There is just so much hysteria surrounding the Yanks, everything gets brutally blown out of proportion. Happy to see both sides get a little bit of their way.

  18. Brian getting Gready Ca$hman says:

    Now to get Cliff Lee!

  19. I really do believe Jeter will have a good season in 2011. He hit .289/.376/.339 in September. His BABIP was close to his career mark and he might work his ass off to have another good season in 2011.

  20. Monteroisdinero says:

    In another vein (haha), Jeets will soon be turning on a whole new crowd of middle age females who have a high forehead fetish.

  21. ramez hanna says:

    it will e a bad contract in the last 2 years ,i pray will not be
    but hay,you cant defy age

  22. JerseyDutch says:

    Pay him what he wants. He deserves it. Five WS rings. Icon. Golden Glove. You don’t throw your captain in the trash. Steinbrenner rolling in his grave.

    /Big Bertha’d

  23. rek4gehrig says:

    Welcome back, Capn

  24. Jimmy McNulty says:

    Finalized per Jack Curry.

  25. Riddering says:

    Considering the dramatic notions unleashed by a crazed media and fanbase this past week or so, the deal is very appealing.

  26. BigBlueAL says:

    The national nightmare is finally over!! lol

    Now we can all finally move on to the real important part of the off-season with the winter meetings starting on Monday. As always should be a fun few days next week.

  27. yankees1717 says:

    this isn’t too bad. i mean, he won’t get any awards in 2013, so he won’t be getting those incentives. and if he does, well, great, it means he had a good year and might even decline that player option!

  28. nathan says:

    What a confusing deal. The more I read Heyman’s tweets the more I am certain a 4th yr is a given.

  29. emac2 says:

    What a nightmare.

    I can’t believe we are stuck with him playing short for 4 years.

    I wonder if Cash understands that pitchers will never be good if the defenders behind them suck. We’ll be really lucky if we win a single series during this deal.

    Cashman should go if he is going to give out deal like this…and Posadas. What is his value if he leaves us stuck with aging players at top dollar until the day they can’t tie their shoes? It’s bad enough he doesn’t seem to have any real sence for pitching.

    The teams revenue and scouts can only cover up for so much.

    If this costs us a long term deal with Cano I’m going to flip.

  30. emac2 says:

    BTW – How many rings before he got his big deal and how many since?

  31. MikeD says:

    I don’t understand the “$3 million buyout.” If it’s a player option for the fourth year, then how is there a club buyout? Would this be a case of Jeter saying he’s invoking the $8 million player option, but the Yankees can then refuse it by invoking the $3 million buyout?

    If the Yankees have the final say, then I have no issue, because if Jeter’s production collapses to the point where he’s not even worth $8 million to the team, then they trip the $3 million buyout, and they total value of the deal is $54 million over three years, or $18 million per. I can live with that.

    Is my take correct?

  32. Sal says:

    Mikey why don’t you like the option? An $8M base salary and incentives, do you know what the incentives are? And you think Jeter wants to come back that 4th yr for that base salary,to do what try for Pete Rose’s record? Nobody is touching that number, Pete had lots of help after the age of 37, and that stuff isn’t allowed in MLB anymore.

  33. andy says:

    does this guy have spell check?

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