• Yanks To Pay Jeter Well & Beyond?

    Posted by on November 9th, 2010 · Comments (11)

    Via Wallace Matthews:

    Derek Jeter is going to be paid Ryan Howard money for putting up Marco Scutaro numbers.

    “The Yankees are going to overpay him,” said a source with intimate knowledge of the discussions between the team and Casey Close, Jeter’s agent. “The question is, how much are they going to overpay him?”

    Several sources told ESPNNewYork.com on Monday that while the Yankees have yet to make a formal offer to Jeter — or to Mariano Rivera, their other high-profile free agent, not to mention Cliff Lee, their primary target in the free-agent market — offers are currently being prepared for all three.

    And the one that is likely to get done first is Jeter’s, possibly before Thanksgiving, with Rivera’s soon afterward.

    But the first order of business will be Jeter, whose 10-year, $189-million contract expired last Monday and who officially became a free agent for the first time in his 16-year career at 12:01 a.m. ET on Sunday morning when the Yankees five-day exclusivity window expired.

    From conversations with two sources, both of whom requested anonymity due to the sensitive nature of the talks, Jeter’s offer is expected to be for three years at somewhere between $15 million and $20 million per season.

    That would be a slight paycut from his $21 million paycheck in 2010, but still well above the going rate for a shortstop who hit .270 last year and will hit his 37th birthday two weeks before the next All-Star Game.

    “Some people will think the number is unfair,” said one source, “And some are going to think it is way too much.”


    Comments on Yanks To Pay Jeter Well & Beyond?

    1. throwstrikes
      November 9th, 2010 | 10:50 am

      Everyone knows Jeter isn’t going anywhere else so whether the Steinbrenner’s keep or Jeter gets an extra million or 5 is just details. Details are for someone other than fans to worry about.

    2. MJ Recanati
      November 9th, 2010 | 10:57 am

      Wallace Matthews wrote:

      Derek Jeter is going to be paid Ryan Howard money for putting up Marco Scutaro numbers.

      Funny line. Probably true, too.

      Personally, I’d offer Jeter 2Y/$35M ($22M in ’11, $13M in ’12) with a mutual option for $10M in ’13 or a $5M buyout. That guarantees him $40M over two years.

      I’d give him until the Monday after Christmas (49) days to consider the deal. After that, I’d thank him for his service to the team and tell him that #2 will be retired on June 26th (his birthday) of the first summer he’s not playing for another team.

    3. jrk
      November 9th, 2010 | 11:46 am

      I have absolutely no problem with overpaying Jeter, even though his numbers don’t justify the salary, as long as two conditions are met:
      1) We don’t cave in on the number of years. If we can hold the contract to 3 years or less (or ideally, 2 with an option like MJ said), I will be happy regardless of the money we pay him.
      2) The salary we pay Jeter has no effect on our ability to land other free agents. Is this realistic? Possibly. Lets be honest, the Yankees can dig deep into their pockets for this unusual circumstance. It’s not like this situation is going to be popping up often.

    4. Jim TreshFan
      November 9th, 2010 | 12:43 pm

      I think things are going to start getting “complicated” (as my Grand Pappy used to say). First of all let me say I have no problem with MJ’s suggestion. But I don’t think Jeter would take it. Not the money, I mean the years. I imagine he won’t go for anything less than a 4 year deal—which would take him to the age of 40—for about, say, $65 million.
      Look, I’m sure we all like to think that Jeter will take the shortest termed deal possible for a reasonable, albeit extravagant, price—i.e. “take one for the team”—because that’s just the type of guy he is, a latter day Lou Gehrig. But none of us really knows Derek Jeter personally, so how can we say? The only thing I am certain of is that some party (owner, fans, or player) is going to be very unhappy with the outcome.

    5. Scout
      November 9th, 2010 | 12:52 pm

      It’s too much money and, even at three years, too long, but I’m with jrk on one key point — I don’t want to hear any crap from the Yankees about how there’s not enough money to sign a key free agent or create a decent bench.

    6. Raf
      November 9th, 2010 | 1:30 pm

      Scout wrote:

      I don’t want to hear any crap from the Yankees about how there’s not enough money to sign a key free agent or create a decent bench.

      I don’t think that’ll happen. Benches and bullpens are volatile by nature, I can see why the Yankees or any other team for that matter, wouldn’t want to throw money at it.

      Personally, I believe that if the Yanks target a key FA, more often than not they will get them.

    7. #15
      November 9th, 2010 | 2:37 pm

      How ’bout something like this… 16 mill in year 1 with 2 mill bonus for more than 145 games, (18 total), then in 2012, 13 mill with a 5 mill bonus for 145 games played, in 2013, 10 mill, and 8 mill bonus for 145 games, and 7 mill with an 11 mill bonus in 2014 for 145 games. If he’s still good enough to be the starting Yankee SS, he gets his dough, if not, the team is spared the expense of a high performing star. That’s 46 mill he can count on and a total of 72 for 4 years if he’s still on top of his game.I still think following the contract with a 10 year personal service deal is the way to go. It voids if he plays for anyone else. It’s the best way to make sure a great story has a happy ending.

    8. K-V-C
      November 9th, 2010 | 3:45 pm

      Hear is a novel thought – Pay him what he is actually worth $7 to $10 million a year or let him walk away!

    9. clintfsu813
      November 9th, 2010 | 4:12 pm

      @ K-V-C:
      Because you have to define “worth.” We all know Jeter means more to the Yanks than just his performance on the field. That may suck, but thats the way it is. The Yanks are overpaying for his performance AS WELL AS the 3000th hit, and his iconic stature. Jon Lane made a good post about it today: http://www.myyesnetwork.com/12461/blog/2010/11/09/why_derek_jeter_can%E2%80%99t_be_overpaid

    10. clintfsu813
      November 9th, 2010 | 4:13 pm

      @ #15:
      I’m a big fan of “performance” contracts. I wish all were done this way. Pavano and Nick Johnson would have made waaaay less money then. 😀

    11. K-V-C
      November 9th, 2010 | 9:37 pm

      I believe he is worth what a no name 37 shortstop with his numbers would be worth.

      I don’t buy the marquee value, his hitting 3000 hits, whatever. The Yankees are the BRAND and would survive losing Derek, just like they didn’t miss a beat losing the media’s favorite manager, Saint Joe Torre. Time marches on.

      Jeter is coming off a 10yr contract in which his team won ONE world series. They have already paid him for the earlier “performance.”

      I love Jeter but that type of story makes me ill. I really wish the Yankees would draw a line in the sand and actually run this team like a business. (If they had they wouldn’t be overpaying A-Roid) I know this wouldn’t ever happen.

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