It’s reported that the deal is for three years and $16M a year, slightly above the Yankees’ original 3 yr./$15M year offer.
The fourth year is NOT guaranteed. Should Derek NOT come back for that year, (a year in which he’d turn 40 in midseason 2014) Jeter gets a $3M buyout. 3 years, $51 million.
If Jeter does come back, he gets the $3M plus another $5M. At least $56M over 4 years. There then are incentives he could reach. If, from 2011-2013 he reaches all the incentives, he could make $9M more—$17M in 2014. High for a 40 year old SS, but if he reaches all the 2011-2013 incentives, hey more power to him and fans will be very pleased.
If all incentives are met, 4 years, $65 million.
Personally, I don’t think at this advanced age he can meet all the incentives. I mean, 37-39 years old and a SS? But if he meets some of those incentives, hey, good. The question is, will he meet any?
How fast are the sands of time dripping through Jeter’s hourglass?
SI.com’s Jon Heyman tweets that about five teams called to express interest in signing Derek Jeter before he re-upped with the Yankees, though the shortstop never considered going anywhere else. In fact, he didn’t even listen to what they had to say.
BTW, Berkman signs a deal with the Cardinals.