The Buzz: Show Me The Money

When I say the word Yankee to you, what comes to your mind? Your reply should be one of 4 names Babe Ruth, Joe DiMaggio, Mickey Mantle, or Derek Jeter. That is right, despite the fact that Jeter is still playing, he is already considered a living legend. In fact Derek Jeter in many ways is the perfect symbol for the New York Yankees. Jeter alone represents success, swagger, marketability, and most of all revenue for the New York Yankees. However, Have we seen the last of Derek Jeter in a Yankee uniform?

Now, the question of whether or not Derek Jeter will remain a Yankee is irrevelant, considering that Derek Jeter needs the Yankees and the Yankees need Derek Jeter. But, the Question that does persist is how much do you pay Derek Jeter, who technically is a free agent. On one hand you have the captain of your team, whereas, on the other you have 36 year old shortstop who appears to be on a decline in production.

Maybe I am jumping the gun a bit, by saying that Jeter is on a decline in production. But, many “Jeter Haters” will use his decline in production this past season as the reason he will never be as good as he once was. This past season with the Yankees, Jeter hit a career low .270/.340/.370 with 10 home runs and 67 RBI’s. However, Jeter is only a year off from hitting .334/.406/.465 with 18 home runs and 66 RBI’s in the 2009 season.

As it stands now, the New York Yankees are on the verge of proposing a 3 year/ $45MM contract to Jeter, but, according to the New York Post, there is a strong chance that Jeter will not even respond to that offer and try and force the Yankees to make a more appealing bid. In the last year of his contract that he signed 10 years ago, Jeter made $21MM during the 2010 season. Meaning the Yankees initial offer, means Jeter would have to take a pay cut of $6MM. Jeter is likely going to demand either a longer contract, or more money.

The estimated market value for Derek Jeter based off of performance is anywhere from $10MM to $12MM. With their initial offer, the Yankees have already “over-payed” in order to keep Jeter. In fact,  the Yankees are said to be willing to pay Jeter around $60MM and include an option year. Based off of this knowledge, the Yankees could potentially “over-pay” for Jeter by $8MM or $10MM.

While, usually a fan base would chastise their team for “over-paying” for a player, I do not think it is fair to criticize the Yankees in this situation. Because the effect that Jeter has on the Yankees, goes far beyond just winning baseball games. Think of the thousands of Yankee die-hards that idolize Jeter every time they see him play. By not bringing Jeter back, I’m sure many of those same fans will feel like the team has slapped them in the face.

For a team that “over-payed” for the talents of A.J. Burnett, and a team that “showed the money” to the likes of C.C. Sabathia, Mark Teixiera, and Alex Rodriguez. It is time that they “show the money” to their true star, and team leader in Derek Jeter.