As we reported last week (see Derek Jeter's $51M Contract: Why It Was Reached Now, And How it Stacks Up), the announcement of the Derek Jeter extension was likely to come at the Baseball Winter Meetings. And while it didn’t occur in Orlando (it will take place in Tampa), the Yankees have announced today that the iconic Captain of the club and the Bronx Bombers have finally reached a deal.
The parameters remain the same as reported last week:
Base of 3 years, $51 million through 2013, player option of $8 million for 2014. The fourth year could see additional money – as much as $9 million -- in bonuses. The incentives aren’t based on the boilerplated incentive clauses seen normally, but rather a point system based on MVP, Gold Glove, and Silver Slugger voting. If Jeter does not reach any of the incentives he is still gaurneteed $56 million.
A key aspect of the deal that has not yet had the details surface, centers on deferred salary. The terms as to how long and whether the deferred salary has added interest may slowly percolate out into the media in the coming days.
The following is a breakdown of average annual value (AAV) of recent multi-year contracts (base, does not include option years):
At age 36, Jeter is coming off the worst full-season of his career going .270/.340/.370 with 10 HRs, 67 RBIs, and 179 hits over 739 plate appearances. He was selected by the fans for the All-Star Game, and won the Gold Glove last year.
Among all active players with at least 1,000 games played, Jeter, 36, owns the Majors' highest personal career winning percentage (.601, 1,379-914-2), and has appeared in more Yankees victories (1,379) than any other player in franchise history according to the Elias Sports Bureau. Jeter is also the Yankees' all-time leader in hits (2,926), at-bats (9,322) and singles (2,163), ranks second in games played (2,295), doubles (468) and stolen bases (323), is third in runs scored (1,685), fifth in batting average (.314), sixth in walks (948) and extra-base hits (763), ninth in RBI (1,135) and 10th in home runs (234).
Jeter is an 11-time American League All-Star and earned his fifth Gold Glove Award in 2010. He led all Major League shortstops last season with a career-best .989 fielding percentage and committed only six errors - the fewest miscues in a full season in his career and the fewest among all shortstops in the Majors in 2010 with at least 110 games at the position.
He has scored at least 100 runs 13 times in his career, tied with Lou Gehrig for the most 100-run seasons in franchise history and tied for the second-highest total all time, trailing only Hank Aaron's 15 such seasons. According to the Elias Sports Bureau, his 15 consecutive seasons (since 1996) with at least 10 home runs and 10 stolen bases is the second longest streak all-time behind only Barry Bonds (16 straight from 1986-2001).
Jeter, a four-time Silver Slugger Award winner and 1996 AL Rookie of the Year Award winner, owns the most hits in Major League history as a shortstop. With 2,274 games played at the position, he is second on Baseball's all-time list in games at shortstop for one club, trailing the Orioles' Cal Ripken, Jr. (2,302). According to Elias, it marks the third-most contests among players who never played a game at any other fielding position, trailing only Luis Aparicio (2,583) and Ozzie Smith (2,511).
Jeter has appeared in the postseason in 15 of his 16 Major League seasons and is Baseball's all-time leader in postseason games (147), runs scored (101), hits (185), doubles (30) and extra-base hits (54), ranks third in home runs (20) and is fourth in RBI (57). Of the 2,295 games in which Jeter has appeared, in only one were the Yankees mathematically eliminated from postseason play (September 26, 2008).
In 2010, Jeter hit .270 (179-for-663) with 111 runs, 30 doubles, three triples, 10 home runs and 67 RBI in 157 games with the Yankees. He ranked second among all Major League leadoff hitters with 104 runs and 60 RBI, and fifth with 167 hits.
Jeter was originally selected by the Yankees in the first round (sixth pick overall) of the 1992 First-Year Player Draft.
Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.
Follow Maury Brown on Twitter
Follow The Biz of Baseball on Twitter