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Done: Derek Jeter, Yankees agree to three-year contract

Dec 4, 2010, 5:52 PM EDT

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UPDATE: Jack Curry of YES Network has the contract details. He reports that Jeter’s deal is worth $51 million guaranteed over three years. Interestingly, the deal includes a player option for a fourth year worth $8 million where he would have the chance to earn an additional $9 million in performance-based incentives.

And so, if Jeter exercises the player option, he will be guaranteed $56 million. The $51 million total mentioned above includes a $3 million buyout in the event that Jeter declines the option.

4:34 PM: We’re right back where we expected to be.

While negotiations went a little rockier than we originally thought they would, the Yankees have finally agreed to a new three-year contract with Derek Jeter, according to Jack Curry of YES Network. Jon Heyman of SI.com hears the same.

Jeter will make between $15-17 million per season and the fourth year option will not be guaranteed. The contract is pending a physical.

And so, the Yankees did give in a little bit from their original offer, but not by much. Good for them. I’m already waiting for a columnist to say that Jeter took a paycut before the winter meetings in order to help the team make room on the payroll for Cliff Lee and/or Carl Crawford. He’s a real team guy, don’t you know? Ah well, whatever it takes to keep his iconic status intact. Jeter is right back where he belongs and all the negative stuff we’ve read over the past couple of weeks will be forgotten by spring training. It was a fun ride, though.

  1. proudlycanadian - Dec 4, 2010 at 4:50 PM

    Great! They Yankees have an overpaid SS with declining skills and Craig can find another topic.

    • beatmyheat - Dec 5, 2010 at 5:11 AM

      just like a canadian who has no idea what jeter brings to a team. By the way look at jeters stats this year not his avg.
      most hits by a ss w 179..most walks by a ss w 63..and baseball is a game of failure. so when you read things like his bat avg and “made the most outs” ..thats expected with someone who had more at bats than anyone in the american leage…even the greatest hitter of all time is going to get a hit 3.5 times out of ten. as far as range goes. its bs. A ss or 2nd baseman range is only as good as hs knowledge of opposing batters and his pitchers. learn the game before you comment.i

      • beatmyheat - Dec 5, 2010 at 5:15 AM

        thats why when he has consistent pitchers like Andy and CC ..he wins a gold glove. his “decline” was the yankees inability to secure a good pitching staff. btw,the same reason they have not won a world series in all those years. BAD PITCHING!!

  2. cleareye1 - Dec 4, 2010 at 5:10 PM

    Have the Dodgers been sold yet?

  3. ilovefootball25 - Dec 4, 2010 at 5:14 PM

    Good for them.

  4. nofunleague - Dec 4, 2010 at 5:19 PM

    But at least his inability to go after close balls will keep his number of errors down again this year.

    • beatmyheat - Dec 5, 2010 at 5:17 AM

      when he has consistent pitchers like Andy and CC ..he wins a gold glove. his “decline” was the yankees inability to secure a good pitching staff. btw,the same reason they have not won a world series in all those years. BAD PITCHING!! another person brainwashed by whatever writers say and have no idea about the game.

  5. thedavidbowers - Dec 4, 2010 at 5:22 PM

    Jeter? Overpaid?? Not for what he brings the Yankees. Sure, like everyone, his abilities diminish with age but, he’s a guaranteed future Hall of Famer, will be setting records the remainder of his career and putting butts in seats (have you checked the price of seats at The Stadium?) He had a spotless record, is a true team player and a sports hero worthy of having our children look up to: A class act. And invaluable in the clubhouse as a leader to ‘the new guys.’ He’s worth every penny they’ll give him. For the Yankees to lose Jeter would be way worse than the Red Sox losing Ruth. The ‘Sox didn’t realize his value until AFTER he left. The Yankees have been realizing Jeter’s value for a long time.

    And, while we’re on the subject, the true measure of a player’s “worth” is what a team (or owner) will pay him. If they’ll pay him $15-17M/year, then that’s what he’s WORTH.

    • summerof67 - Dec 4, 2010 at 5:23 PM

      Agreed. As the MasterCard ads say, ‘Priceless.’

      Thank goodness the posturing by the Steinbrenners is over for now.

    • Lukehart80 - Dec 4, 2010 at 11:22 PM

      Losing Jeter know would have been ‘worse than the Red Sox losing Ruth,’ just as he was becoming perhaps the greatest player in history?

      My God, some Yankees’ fan are the most delusional people on Earth…

      • byjiminy - Dec 5, 2010 at 5:23 AM

        Yup. I love when the wailing about how sacrilegious it would be to not overpay Jeter long after he’s a productive player invokes Babe Ruth. When Ruth stopped being productive,the Yankees traded him to Boston. (The Braves not the Sox. But still.)

  6. nofunleague - Dec 4, 2010 at 5:30 PM

    The contract is pending a physical.
    OK Derek, Let me see you go to your left. Fail
    Now to your right, Fail.
    Yanks save 15 -17 Mil

  7. bc666 - Dec 4, 2010 at 5:41 PM

    Thank god. All the planets are aligned properly. The angels are singing. All is right in the world. Jeter is still a Yankee.
    Thank you thank you God. The apocalypse has been avoided.

  8. bc666 - Dec 4, 2010 at 5:43 PM

    So wonderful of him to take a pay cut. How ever will he get by on only $15-17 million a year? Guess he needs to start thinking about feeding his family and his soon to be wife.

  9. uyf1950 - Dec 4, 2010 at 6:14 PM

    Hopefully we are approaching the end of this saga. According to Jack Curry of the Yes Network Jeter’s ne contract is for 3 years at $16M per = $48M Total. There is a player option for a 4th year for $8M. If the player option is not exercised there is a $3M buy out. Which would make the value of the 3 year contract $51M. In addition the 4th year contains incentives worth $9M based based on some sort of point system which one has to assume includes “gold glove awards, silver slugger awards, MVP voting, etc…”
    Net , net if Jeter exercises the 4th year option he can make anywhere from $56M to $65M with incentives over the course of the 4 years. If Jeter chooses not to exercise the 4th year option he makes $16M per for 3 years = $48 plus $3M buy out for a total of $51M over the life of the 3 years. At least that’s the way I understand it. But who knows.

  10. rcali - Dec 4, 2010 at 6:20 PM

    What would Jeter do if the Yankees didn’t exist. How could he live on the $5 mill he’s worth?

  11. maxrod - Dec 4, 2010 at 6:28 PM

    I dont think he`ll have to worry bout a family he`ll never marry her,Minka Kelley is a beard as have been all is prev high profile “girlfriends” to bad for whatever reason he cant be himself.

    • Old Gator - Dec 4, 2010 at 10:49 PM

      Sure he can. Each one of his famous girlfriends comes with an expenditure cap. Once he’s wasted millions on each one, he tops out and starts over. I guess no one told him that the cute waitress at the diner would show him a better time at a fraction of the price, and probably be worth a conversation at the end, too.

  12. stew01 - Dec 4, 2010 at 7:27 PM

    I TOLD YOU SEVERAL TIMES IT WOULD BE A 3 YEAR CONTRACT. ONLY I SAID FOR $60 MIL. …OR 20 MIL. A SEASON. I WASN”T THAT FAR OFF AT 56 MIL.

    • uyf1950 - Dec 4, 2010 at 7:48 PM

      You were off by a year as well. He only makes $56M if he exercises the 4th year option. Other wise it’s 3 years @ $48M plus a $3M buy out = $51M

      But what’s a few million dollars among friends.

  13. anunturitelefoane - Dec 4, 2010 at 8:57 PM

    Check out the new Versace V9 luxury mobile phone, featuring metallic housing with Swarowski crystal stone, shake control, turn-to-mute, blacklist functions and 2000 mAh battery. Available in gold or silver for only EUR 135 on http://www.versace-v9.eu

    • Old Gator - Dec 4, 2010 at 11:03 PM

      Don’t bother with it. It’s a cheap piece of crap. My daughter got one in London and she got such terrible reception on it in places where her old phone worked fine that she threw the stupid thing in the Thames.

      • mtner77 - Dec 4, 2010 at 11:56 PM

        Don’t really care whether it is “a cheap piece of crap” or not. Would you buy ANYTHING from someone who had to come on this post to advertise it??

  14. kmgannon - Dec 5, 2010 at 9:06 AM

    Jeter has re-signed.

    Our long national nightmare is over.

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