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UPDATE: Yankees on verge of deal with Derek Jeter

Dec 4, 2010, 2:55 PM EDT

Derek Jeter smiling

UPDATE: We’re still hearing it’s a three-year deal worth between $15-17 million per season, but here’s a little more on the fourth year.

A source tells Marc Carig of the Newark Star-Ledger that the fourth year will include a combination of guaranteed money and compensation that will also be tied to incentives. Described as “very unusual” by the source, the two sides are still “tweaking” the structure of the fourth year, which appears to be the final hurdle before this one becomes official.

Carig writes that negotiations could be completed as soon as tonight, but that an official announcement may not come until next week’s winter meetings.

11:32 AM: Jack Curry of YES Network reports that both Derek Jeter and Mariano Rivera have agreed to defer money as part of their new contracts.

10:25 AM: Jon Heyman of hears that Jeter’s new contract is “for around” $16 million per season and may be finalized by as soon as today. He adds that “final hurdles” will determine how the fourth year will be treated. Meanwhile, Ken Rosenthal of writes that it will be a three-year deal worth between $15-17 million per season. Interestingly, he hears that a fourth year will not be guaranteed, nor will it be a vesting option, however it will be something called a “creative, hybrid solution.” Stay tuned.

8:37 AM: While most of us were sleeping, Sweeny Murti of tweeted that Derek Jeter and the Yankees were talking about a three-year contract worth $51 million (less than last night’s reported numbers) which would include an option for a fourth year valued at $10 million. He reports that the two sides are getting “very close.” I imagine it was the Rod Barajas contract that gave Jeter the leverage he needed.

In any case, it sounds like an agreement could be reached at any moment, so stay tuned for the latest.

Friday, 11:25 PM: It’s almost over.

Roger Rubin and Bill Madden of the New York Daily News report that the Yankees could reach a deal with Derek Jeter by as early as tonight or Saturday.

No surprise, both sides compromised from their initial demands. According to the report, Jeter would make somewhere “in the neighborhood” of $19 million annually over three years and the contract could include a vesting option for a fourth year with “reachable parameters.” Gee, it’s almost like this whole thing has been scripted.

Sweeney Murti of hears similar contract details and adds that the Yankees are “working into the night” to get a contract done. It sounds like they want to get Jeter and Mariano Rivera out of the way before the winter meetings begin next week.

  1. Old Gator - Dec 3, 2010 at 11:27 PM

    Poor Craig. With nothing left but the winter meetings, over what will he obsess?

    • Ari Collins - Dec 3, 2010 at 11:29 PM

      Never fear, Adrian is here.

    • apbaguy - Dec 4, 2010 at 12:51 AM

      Are you two planning an Orlando (or Kissimmee) rendezvous?

      • Old Gator - Dec 4, 2010 at 9:29 AM

        Kissimmyoo? I hardly even know you.

  2. Ari Collins - Dec 3, 2010 at 11:28 PM

    If the fourth year is just based on playing time, those things usually vest, so the Yankees are essentially committing $75 million to Jeter. I’m a bigger believer than most in his ability to bounce back for a year or two, but still. Wow.

    • Kevin S. - Dec 4, 2010 at 3:04 AM

      My guess is, the PAs will be attainable if he spends his final season at the top of the order, but not at the bottom. Basically, he has to justify staying up top to vest his option.

  3. Glenn - Dec 3, 2010 at 11:45 PM

    Jeter will have a nice age 37 bounce back year next year, than right down hill. The rest of baseball thanks the Yankees. The next dramas will be getting him off shortstop, getting him out of the top of the line up, and getting him out of the line up all together.

    • uyf1950 - Dec 4, 2010 at 2:02 AM

      I think you are probably right about a bounce back next year. I’m thinking a BA of about .280/,285, OBP of .375 and an OPS of about .775 numbers more in line with his 2008 stats. Then about a 5% drop off in each of the next 2 years. Finishing the 2013 season with stats like .250 BA ; .335 OBP and .690 OPS
      Jeter will be 39 at the end of the “proposed” 3 year agreement. I’m confident that the Yankees are addressing where he might bat in the batting order going forward during these negotiations. So hopefully that won’t be an issue. The bigger problem and you hit upon it is where does he play if not at SS at sometime in the future. I don’t see an opening for him. If his numbers play out like I think. There is no place for him. Can’t put him in the outfield, the infield positions are pretty well occupied by better defensive and offensive players then he is, and you can’t DH him, he has no power and no speed. So to keep Jeter in the line up in the 3rd year of his contract and certainly in the 4th year (if there is a vesting option) is going to take some very creative thinking on the part of the Yankees.

  4. iamthedoublestandard - Dec 4, 2010 at 2:39 AM

    Jeter has no speed? What r u smoking? At 36, Jeter has above average speed not to mention that he is one of the most intelligent baserunners around.

    • uyf1950 - Dec 4, 2010 at 3:12 AM

      If you would have bothered to take the time to fully understand my post you should have realized I was talking about the 3rd and potentially 4th year of a new contract. When he will be roughly 39 years old. Do you honestly believe he will be a viable candidate for DH? When you get a chance check out how many DH’s there are in the AL that hit less then 15 HR’s, have a BA of .270 or less are over 36 years old and played a minimum of 100 games. Add to that number the players that are making between $15 & $20M a season. I’ll do the math for you. Zero + Zero = Zero
      To answer your question I’m not smoking anything. The reality is if Jeter doesn’t play SS there is no spot for him the line up.

    • paperlions - Dec 4, 2010 at 9:16 AM

      If you bothered to check the base running stats, you’d find that Jeter has not been an exceptional base runner since 2002. He is still slightly above average, generally worth 1-2 runs above average each year. I’m all for Jeter getting every dime he can, he’s earned more than those that are paying him, but let’s stop acting like he is exceptional at anything. He is old, he isn’t as fast, strong, or athletic as he used to be. That’s normal.

  5. uyf1950 - Dec 4, 2010 at 9:27 AM

    If the above update is correct depending on how the option year is structured Jeter will be making either $17M per for 3 years or a little over $15M per for 4 years. In either case it’s much more then his on field performance going forward would have justified. I think it also allows him to save some face. It potentially gives him the minimum years he was looking for in his revised proposal, but not nearly the dollars. Hopefully this is the end of it.

  6. Old Gator - Dec 4, 2010 at 9:34 AM

    So while all this nonsense was splattering across the tabloids about the Borg and their washed up shortstop with the small-market OPS – who can hardly help “bouncing” considering all the rubbers he must go through – and re-signed their 2000-year-old closer, the Beanbags were upgrading their nuclear arsenal with Adrian Gonzalez. Now which front office do you think got the most accomplished from mid-November to the present?

    • uyf1950 - Dec 4, 2010 at 9:54 AM

      Well let’s see the Red Sox lost VMart who last year had a .302 BA ; 20 HR’s and an OPS of .834 remind me again who is replacing VMart in the line up offensively.
      Assuming the Gonzalez trade goes through the Red Sox won’t be resign Beltre. Let’s see what his numbers were last year .321 BA ; 28 HR’s and an OPS of .919
      So the Red Sox lost two .300+ hitters a total of 48 HR’s and 2 guy’s with very high OPS’s. They so far have replace two players with extremely high offensive numbers with one player who’s numbers are about the same as Beltre’s. That seems to me to be a net loss of one player with extremely high offensive numbers. Add to that at minimum the Sox are giving up at least 3 highly prized “prospects”.
      As to your question, I have to go with the Yankees. Just resigning the best closer in Major League history for the same price the Red Sox were trying to steal him for in my mind makes the Yankees the winner. But that’s just my opinion.

      • paperlions - Dec 4, 2010 at 10:06 AM

        Youkilis played 102 games and Pedroia played 75…getting guys like McDonald, Hall, Lowell, Hermida, and Patterson out of the lineup is a huge net gain.

        If you are going to look at stats for guys that played in Boston and SD last year, you REALLY need to take park effects into account.

        Most prospects don’t pan out, and the Sox have enough to throw a few at SD and not have it affect their ability to supplement the MLB team from the farm system. I hate the RedSox, I can’t believe I have to argue in their defense.

      • uyf1950 - Dec 4, 2010 at 10:28 AM

        To paperlions – discount the prospects as you mention. Your right some do pan out many don’t. Just look at who they lost VMart and probably Beltre. They are only replacing both those players with Gonzalez. You’re right about the players Youkilis, Pedroia, etc..but they would be with Boston this year regardless. The question was: “which front office do you think got the most accomplished from mid-November to the present”? Losing 2 offensive players like VMart and Beltre and only gaining Gonzalez when everything would have been equal (like the injured players coming back) clearly is not a net gain relative to the question posed. So I stand by by comment.

      • paperlions - Dec 4, 2010 at 10:46 AM

        That’s fine, then discount the resigning of Rivera as he too would have been a Yankee no matter what. It doesn’t matter if other teams made offers, he wasn’t going anywhere.

        I think the Yankees signing Jeter is a win for the Redsox, assuming the Yankees continue to play him at SS and give him ABs. He’s a horrible defender that makes his staff get more than 27 outs/game and he’ll be lucky to be a league average hitter. The Yankees are just getting older and most of their players are far past their prime…there is no reason to expect most of the Yankees to be better or even as good as they were last year….they are old (current ages): Rivera (41), Posada (39), Pettitte (38), Jeter (36), ARod (35), Burnett (33), Tex (30), Swisher (30), Sabbathia (30)….the Yankees have to do something just to off-set adding another year to all of the guys on the down side of their careers and they haven’t done that…even getting Lee (which would be nice), is just signing another old guy. Teams that get old all at once crash hard, and signing players past their 32nd birthday is buying into a declining market.

      • Ari Collins - Dec 4, 2010 at 10:47 AM

        While the Yankees haven’t gained any players they didn’t already have last year, plus they haven’t resigned Pettitte. So they’ve (so far) “lost” him without gaining anyone. But this is pretty typical of this point in the offseason, isn’t it? Are there any teams that have already signed more than they’ve lost? Maybe the Tigers? I expect the Yankees will get Pettitte back and/or sign Lee. And I expect the Red Sox to get Werth or Crawford.

        And yeah, as paperlions said, you’re not taking the EXTREME park effect of SD into account. Nor the level of the prospects given up, nor the fact that the Sox will have an extra first-rounder, an extra second-rounder, and three sandwich picks in next year’s draft to restock their system with, assuming that someone signs Felipe Lopez and Adrian Beltre.

      • uyf1950 - Dec 4, 2010 at 11:11 AM

        Guy’s one of us is missing the point. Maybe it’s me. But it seems like the responses are getting off track. The question was: “which front office do you think got the most accomplished from mid-November to the present?” How is losing 2 players like VMart & Beltre and only gaining 1 player Gonzalez getting the “most accomplished?
        Are the Yankees getting old? Obviously. But which team suffered the most injuries and lost player time? The Red Sox or the Yankees? Obviously the Red Sox. While the Yankees are certainly are getting older and players performance over time has to suffer. A similar question can be raised about the Red Sox players and their injuries. Will the Sox players have recurring problems. Will Beckett’s back hold up? Can Dice K stay off the DL and play a whole season for once? How will Pedoria and Ellsbury due after their prolonged injuries? and the list goes on. So both teams have questions and neither team has addressed those questions during this off season “so far”. Which brings us back to the original question posed by Old Gator “which front office do you think got the most accomplished from mid-November to the present?”

      • Ari Collins - Dec 4, 2010 at 11:19 AM

        And my answer is the Sox by a bit, since they replaced an older player with a younger and better, while the Yankees have re-signed two guys in their late 30s for longer contracts than anyone else was (smartly) willing to give them. Both teams have more work to do (a starter or two for the Yankees, an OF and possibly a catcher for the Sox), but the Sox have traded for an under-30 superstar while the Yankees have re-signed their two near-40 guys for two or three years, one of whom wasn’t that good last year.

      • uyf1950 - Dec 4, 2010 at 11:44 AM

        To Ari – I respect your opinion. Time will tell who has done better. I would just correct one point in your reply. The comment about 2 players being signed for contracts longer then anyone else would have signed them. I would absolutely agree with you about one player (Jeter). Mo is a completely different story. The Sox themselves were reported to have offered Mo 2 years and I’m sure “other” teams as well would have gladly given him 2 years. Mo is well, worth the 2 years.

      • Ari Collins - Dec 4, 2010 at 2:21 PM

        Yeah, I don’t know what I was thinking lumping Mo with Jeter in terms of being signed to longer contracts than others would’ve. My bad!

  7. uyf1950 - Dec 4, 2010 at 10:39 AM

    All of this Jeter “stuff” by sports writers and so called experts is starting to sound like that State Farm commercial with the minutes and save so much all to confusing. It would be nice to have one expert that got it right the first time.

  8. mtner77 - Dec 4, 2010 at 1:01 PM

    ….”I think the Yankees signing Jeter is a win for the Redsox, assuming the Yankees continue to play him at SS and give him ABs. He’s a horrible defender that makes his staff get more than 27 outs/game and he’ll be lucky to be a league average hitter.”….

    Exactly. It truely amazes me that in that Alternate Reallity that is Yankee Fandom, they can not get this simple fact. Despite what the numbers show, any post that even suggests that Jeter may have slowed down at all in the last decade is pounced upon with clever replies like “HE”S JETER! HE HAS FIVE RINGS! HE IS THE BEST!” Despite his age and declining play, most of these people favor throwing $150 milliom and six years at his guy, when no other team in MLB would offer the guy $30 million over 3 years. Laughable.

    Why in the world the NYY would bid against themselves and offer one nickle more than their original $15 million over 3 years is truely amazing.

  9. yankees1996 - Dec 4, 2010 at 1:19 PM

    Never mind what Craig is going to obsess over, what are the rest of you going to do? Man stop the nit picking and let it be we all knew and hoped this deal would get done, now it is very close to completion. I for one am glad it is almost over and the bonus is that it is finished before the winter meetings. Everyone knew Jeter was going to be the one to play SS for the Yankees at least for the next 2 years and that appears to be going to happen, now the Yanks can concentrate on putting the rest of the team together.

    • uyf1950 - Dec 4, 2010 at 2:28 PM

      Amen, my friend. I’m glad it’s over or just about to be. There are as we all know several other issues the Yankees need to address. Time to get on with the business of going for and winning #28.
      Ps: It’s not the next 2 years of the contract that bother me (at least not much). It’s the 3rd year and definitely the 4th year depending on if and what the option is.

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