Yankees Might Bump Jeter Offer to $51 Million

I didn’t want to do this in a few separate updates so I figured I’d do it like this. Here are the latest updates on the Derek Jeter/Yankees negotiations.

  • As you already know Jeter and his agent met with the Yankees brass for the first time since Nov. 8 yesterday.
  • Jon Heyman reported that there was “renewed optimism” after the meeting.
  • Heyman said that the Yankees may increase their offer to $51 million with a fourth year option, but that there was “nothing imminent”.
  • Bob Kapisch reported something similar, that talks were positive, but that there was “nothing imminent”.
  • After the meeting Hank Steinbrenner said that he was confident that Jeter would remain a Yankee and that his brother, Hal, would agree.
  • It was Jeter’s camp that reached out to the Yankees not the other way around which may indicate their willingness to get a deal done.
  • Three possible backup options that Jeter previously had – the Dodgers (Juan Uribe), Giants (Miguel Tejada), and Cardinals (Ryan Theriot) – have all filled their holes at shortstop. It’s possible that the Angels could afford him, but that seems like a stretch. Nobody else has either (1) need for a shortstop, (2) the money to bid for Jeter, (3) a shot at winning. Meaning Jeter has no leverage at all.

The Yankees are bidding against themselves if they up their offer from $45 million to $51 million, but at this point it’s probably worth the difference to settle this thing peacefully if that’s what it will take.

TYU put out a rumor that he’d heard which was that they were getting ready to offer $51 million with a fourth year option and a $6 million buyout. That actually makes sense at some level for both sides. That guarantees Jeter $57 million over the next three years which is an annual average of $19 million per season or just about the average salary he’s made over the past 10 years. That way Jeter saves face and the Yankees aren’t getting entirely ripped off.

The phrase of the night was “nothing imminent” so don’t get your hopes up that anything will happen tonight. This does make me think that this could potentially be wrapped up by the winter meetings. I wouldn’t have necessarily agreed to that Tuesday morning.

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One Response to Yankees Might Bump Jeter Offer to $51 Million

  1. i'm believing that jeter will be back.. but boston is out there and i'm worried. i wrote this this morning.

    http://bleedingyankeeblue.blogspot.com/2010/12/wh