Via MLB –
The Yankees have re-signed Derek Jeter to a one-year, $12 million deal, the club announced Friday.
Jeter held a $9.5 million player option for 2014, the final installment of a deal he signed before the 2011 season that ended up paying him $51 million over three years. Instead, he and the club reached the new agreement.
As someone noted over at BBTF, under the $9.5M player option, the average annual value of Jeter’s prior contract was $14.5 million – and that would have counted toward the luxury tax. By declining the option and signing for $12M, Jeter gets more money and the Yankees save $2.5M toward the luxury tax threshold.
That’s pretty good money for a guy who cannot field and who will probably have an OPS+ under 100.
And, I’m not knocking Jeter. The decline is due to his age and injury. Hey, it happens…