Boy, if it doesn’t seem that the Yankees are about to give old Number 2 a “number two” of their own, doesn’t it?
For the uninitiated, here’s a good summary to bring you up to speed.
“Derek Jeter is a great Yankee and he’s a great player. With that said and done, now is a different negotiation than 10 years ago,” Randy Levine said last week. “He’s a baseball player, and this is a player negotiation. Everything he is and who he is gets factored in. But this isn’t a licensing deal or a commercial rights deal, he’s a baseball player. With that said, you can’t take away from who he is. He brings a lot to the organization. And we bring a lot to him.”
Derek Jeter has been an iconic baseball player for the New York Yankees since practically day 1. Since earning starting shortstop honors in 1996, Jeter has played a seminal role in the Yankees renaissance and was arguably the linchpin to their 14 post-season berths and 5 World Series Championships. His contributions are unrivaled in the history of the game.
That being said, Mr. Jeter has not worked for free.
In exchange for his superstar stats, the Yankees to date have paid Derek Jeter a tad north of $205,400,000 in baseball salary alone. This of course does not include off-field earnings by Jeter pursuant to his licensing and endorsement arrangements. Only teammate Alex Rodriguez ($264,416,000) has earned more money in his career playing baseball than Derek Jeter.
So yes, Derek Jeter has been kind of a big deal. The problem now is that he’s no longer under contract to play baseball.
Let that sink in.
Derek Jeter signed his last baseball contract in 2001 at the age of 27–an age when experts say a player is just entering his prime. Having a baseball contract means that it’s easy to determine what you’re worth from year to year. It’s the number that the contract says you’re worth. Derek Jeter was in a tremendous bargaining position in 2001. He got to put a price tag on the prime years of his career based on the expectations that his pre-prime numbers justifiably generated. That contract is now expired, which means that what Derek Jeter is worth to the Yankees now is no longer what the contract paper says he is, but what the two sides agree that he is.
What is Derek Jeter worth today?
He will be 37 years old in June. He is coming off the worst offensive season of his career. His range on defense is league average at best, and a liability at worst. In terms of dollar value for the term of a prospective 4 or 5 year contract, the Yankees might easily replace his production at a fraction of the estimated $18-$20 million a year that Jeter is thought to be seeking. If Jeter was worth every penny of the $208 million he’s made so far in his career, paying him any more than $8-$10 million per year now for 3 more optimum 37-40 year old Jeter seasons is more than generous. The Yankees are a stocked team and won’t need to rely on Jeter as much as they have in the past.
And herein lies the problem. Yankee fans have been making all kinds of noise on talk radio down here that the Yankees should pay Jeter whatever he wants for as many years as he wants and just shut up about it. Mike Francesa today on WFAN claimed that the 3 year $45 million offer currently on the table from the Yankees was a “slap in the face”. $15 million is a slap in the face, Mike?
Derek Jeter has already been paid for being Derek Jeter. He is owed no additional compensation in the form of over-market dollars out of deference to past glory. The Yankees need a major league shortstop that can contribute on a championship level for the foreseeable future. Derek Jeter is not that shortstop. He once was. He is not anymore. Age, recent trends and historical data suggest that at 37, Derek’s best years are long gone and he’ll only be acceptable as an option now in the short term at reasonable dollars. If he hadn’t been “Derek Jeter” for them for the past 16 years, he wouldn’t even be getting this offer. If he took this offer around town now, nobody would come close to matching it. Not because they can’t match the Yankee pocketbook, but because Derek Jeter’s talent simply no longer justifies that amount of dollars.
Assuming that: 1) there is some point in every player’s career when he breaks down and can no longer perform; and 2) the likelihood of a player’s reaching that threshold increases with each birthday after 37, why would a responsible team ever pay top dollar to a player who is 36 with demonstrably diminished skills?
Yankee fans are beside themselves.
Some have grudgingly admitted that while Jeter may no longer be a top talent, the fact that the Yankees have wasted so much money on busts like Igawa, Pavano, Burnett and a litany of others over the years somehow justifies their “wasting” money on Jeter. This is of course ridiculous. The Yankees didn’t knowingly waste money on any player in the past. In each of the instances listed above, the Yankees committed the money they did because their baseball evaluators determined that the likelihood of receiving sufficient value in return for the dollars was high. That’s just not the case with Jeter now. In fact, every baseball evaluation of Jeter’s talent points to the Yankees limiting his years and dollars. To bust the bank on him out of deference to a past for which he’s already been paid is uniquely stupid.
Filed under: Baseball, Pop Culture | Tagged: Alex Rodriguez, Baseball, Derek Jeter, free agent, salary, Yankees | Leave a Comment »