The Yankees and Derek Jeter will finalize a three-year deal today after hammering out the final details on a contract that will pay the captain between $15 million and $17 million a year, according to a person briefed on the situation.
The contract includes a tricky option for a fourth season, neither a vesting situation nor a club option. It is linked to what happens across the three guaranteed years.
The deal with the 36-year-old shortstop ends a month of negotiations that at times became strained, smothered the Yankees’ universe, and divided the fan base.
The Yankees increased their original offer to Jeter, three years and $45 million, on Thursday. That resulted in Casey Close, Jeter’s agent, talking to Yankees brass yesterday.
Following Tuesday night’s face-to-face meeting in Tampa, Jeter’s camp had the most distance to travel. The Yankees knew Jeter was looking for a four- or five-year deal for $23 million per, something the Yankees were not interested in doing.
Thursday night, after the Yankees’ new offer, Hank Steinbrenner said the onus for a deal was on Jeter.
“The ball’s in Derek’s court now, and his agent,” Steinbrenner said. “It’s up to them. We don’t know how happy they are. We’ll see. There’s no possible way anybody could criticize us for what we’ve offered.”
The Yankees also were finishing a two-year deal with Mariano Rivera in the area of $30 million.
The closer benefited from the Angels and Red Sox extending surprising multiyear deals. The Angels offered the 41-year-old a three-year deal, and the Red Sox dropped a two-year offer on Rivera despite having Jonathan Papelbon and Daniel Bard in their bullpen. The Red Sox tendered a contract to Papelbon yesterday.
Some believe when agent Fernando Cuza called the Red Sox, the Yankees’ biggest rival offered three years — according to SI.com — knowing Rivera wouldn’t take it, but forced the Yankees to come off their one-year offer.
According to a friend of Rivera’s, he wanted two years from the start of the process but until Cuza received offers from the Angels and Red Sox, the Yankees were sticking to a one-year deal.
With Jeter and Rivera completed, the Yankees can turn their attention to signing free agent lefty Cliff Lee this week at the Winter Meetings.