Jeter Signs

[weams]

http://www.nypost.com/p/sports/yankees/jeter_yankees_agree_three_years_bRsIKdvSwqfkGuAIgCma9O?CMP=OTC-rss&FEEDNAME=

51 Million.

[Palmoripken]

Not as big overkill as I hoped for but that's still a lotta money for a guy in the decline phase of his career.\ Hope it backfires on them. It probably won't knowing their luck but a guy can hope.

[beaner]

http://www.nypost.com/p/sports/yankees/jeter_yankees_agree_three_years_bRsIKdvSwqfkGuAIgCma9O?CMP=OTC-rss&FEEDNAME=

51 Million.

Nice. At least this one won't lead to a McPhail bash fest, I'm confident of that.

[scOtt]

For being so far apart just a few days ago, that came together fast.

Not as albatrossy as I'd hoped.

[Mad Mark]

I was really, really hoping for something along the lines of 4/80, so I'm disappointed.

[Frobby]

More than fair. Good deal for both sides.

[Moose Milligan]

Was hoping to see an albatrossy contract, I agree. Or hoping to see Jeter elsewhere.

Ah, whatever. Should have known better.

[beaner]

More than fair. Good deal for both sides.

As always, the man speaks the truth.

Good deal all around.

[RVAbird]

I was really, really hoping for something along the lines of 4/80, so I'm disappointed.

Well, if the incentives are reached and the option is picked up, the total contract could end up pushing 4/70, but in that case Jeter will probably have provided decent value.

It's a bad contract for anyone but the Yankees, but it's fine for them. It'll be interesting to see if Jeter continues to decline next year, stagnates around a low 700 OPS, or bounces back to career levels. I'd be shocked if Jeter remains the starting shortstop for the next 4 years.

[scOtt]

Well, if the incentives are reached and the option is picked up, the total contract could end up pushing 4/70, but in that case Jeter will probably have provided decent value.

It's a bad contract for anyone but the Yankees, but it's fine for them. It'll be interesting to see if Jeter continues to decline next year, stagnates around a low 700 OPS, or bounces back to career levels. I'd be shocked if Jeter remains the starting shortstop for the next 4 years.

That's the crux of it. Frobby is right, it's good for both sides but only because it's the Skanks. They can eat bad contracts like we eat breakfast. And this is in no way a smart contract. Jeter is worth more per than VMart? More than Dunn? Pujols? Oswalt? Utley? ARam? Tulowitzki? Buehrle? Halladay?

[RVAbird]

Here's some more info, per a Jack Curry tweet:

Jeter's deal is 3 yrs, $51 million with player option for $8 million in the 4th yr. Jeter also can earn $9 mill in incentives for 4th year.

If Jeter exercises player opt in 4th yr and earns no incentives, he's guaranteed $56 mill. First 3 yrs equal 51 because of 3 mill buyout

So, it sounds like the base of the contract is a 3/48 deal, with a 4th year option for a base salary of 8 MM and up to 17 MM in incentives.

That would make Jeter guaranteed 51 MM over 3 years, since the buyout on the option is 3 MM. The option is reasonable and allows for attrition.

I've also read that Jeter agreed to defer some of the money so that New York could avoid a luxury tax.

Somehow this is a stupid contract that will be absolutely fine for the Yankees. I hate life.

EDIT: it also seems that Jeter will have to meet certain criteria to earn the right to exercise his 4th year option (likely games played or something similar). It will be interesting to see if failing to meet that criteria would also nullify the necessity to decline (buy out) the option, saving the Yankees 3 MM.