The NY Yankees have finally come to an agreement with their shortstop and captain Derek Jeter, after a strained and even hostile debate. Although Jeter had asked for no less than $24 million per year, the negotiations ended with a four-year deal (three years and one option) during which Jeter was guaranteed to make at least $56 million. The Yankees ‘victory’ was in getting Jeter to accept a cut in pay from last season’s $21.5 million. In fact, not only did he drop to a more reasonable average of $17 million per year, he agreed also to defer an amount of his salary to ease the Yankee’s payroll tax throughout the next three seasons. Jeter, on the other hand, has maintained the status of baseball’s highest paid shortstop.
The payout works like this: Jeter will make a minimum of $51 million over the next three years, which includes a $3 million buyout for 2014. If he chooses to return in 2014, he forfeits the $3 million and gets an $8 million base salary. Jeter can also receive another $9 million if he gathers enough “points” throughout the term of the contract, for finishing in the MVP balloting, Silver Slugger Award, World Series MVP or Golden Glove, in the top six.
