Yan­kees and Jeter agree to $51 mil­lion deal

The Pak Banker - - International3 -

NEW YORK: Derek Jeter is keep­ing his pin­stripes, just like ev­ery­one ex­pected all along.

The iconic short­stop and the New York Yan­kees reached a pre­lim­i­nary agree­ment Satur­day on a $51 mil­lion, three-year con­tract with an $8 mil­lion player op­tion for 2014, a per­son fa­mil­iar with the ne­go­ti­a­tions told The As­so­ci­ated Press.

The per­son spoke Satur­day on con­di­tion of anonymity be­cause no an­nounce­ment had been made.

While ne­go­ti­a­tions moved slowly, there was lit­tle doubt that the Yan­kees cap­tain would re­main in the Bronx. Beloved by fans and re­spected by his peers, Jeter wants to be a Yan­kee for his en­tire ca­reer in the mold of Lou Gehrig, Joe DiMag­gio and Mickey Man­tle.

The guar­an­teed por­tion of the con­tract in­cludes a $3 mil­lion buy­out if the op­tion is de­clined. If it is ex­er­cised, Jeter would earn $56 mil­lion over four sea­sons.

The player op­tion can es­ca­late up to $17 mil­lion. The amount de­pends on a points sys­tem. He earns points based on if he fin­ishes any­where among top six in AL MVP vot­ing and if he wins World Se­ries MVP, league cham­pi­onship se­ries MVP, Gold Glove or Sil­ver Slug­ger awards. If he earns the max­i­mum, he would get $65 mil­lion over the four years.

Jeter has fin­ished in the top six in the MVP vot­ing four times, plac­ing sec­ond in 2006. He won the World Se­ries MVP award in 2000 and has five Gold Gloves and four Sil­ver Slug­gers.

There is de­ferred money in­cluded, which for the pur­poses of base­ball's col­lec­tive bar­gain­ing agree­ment and the lux­ury tax brings its av­er­age an­nual value to about $16 mil­lion an­nu­ally, just above the $15,775,000 av­er­age in the 10year deal agreed to this week by Colorado's Troy Tu­low­itzki. -Ap

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