Yankees Derek Jeter Plans to Exercise Player Option

derek-jeter

Derek Jeter signed a three-year contract this winter when he re-signed with the Yankees, but a lot of people called it a four-year contract. The reason is because while it is technically a three-year pact, it does include a fourth year player option. One that everyone believed he would pick up.

Even Jeter himself has expressed that he fully plans on picking up the option.

Via Mark Feinsand of the NY Daily News:

Asked about the fourth-year option, Jeter said, “That’s my option, buddy.” He fully expects to play that fourth year.

The way Jeter’s contract breaks down, he will be paid $15 million in 2011, $16 in 2012, and 17 in 2013. His player option is worth a base of $8 million, but it could potentially reach as high as $17 million if he reaches certain plateaus at the plate.

He does have a $3 million buyout if he does not exercise the option. Jeter could potentially try to go that route and re-negotiate another deal with the Yankees, but he’ll be entering his 40′s by that point and the player option may be more valuable.

This entry was posted in Yankees News and tagged . Bookmark the permalink.

Comments are closed.