Yankees re-sign Derek Jeter

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getty images

That was fast. The New York Yankees and shortstop Derek Jeter have already agreed on a one-year deal for the 2014 season.

The move is hardly a surprise as Jeter has been the face of the Yankees since arriving in the majors with them in 1995. Jeter’s player option for the 2014 season was only $9.5 million so the Yankees are actually giving him a bit of a raise in order to avoid the PR nightmare that would follow if ¬†Jeter attempted to hit the free agent market.

Andy McCulloguh of the Star Ledger says the raise is merely an accounting move which will send the money to Jeter rather then have his current deal count against the luxury tax.

The accounting appears to help the Yankees in reaching their goal of reducing the payroll beneath the $189 million luxury-tax threshold. Had Jeter accepted his option, the average annual value of his contract would have been about $14 million, the figure that counts against the luxury tax. Now that figure is $2 million less.

Jeter, 39, played in just 17 games for the Yankees in 2013 hitting a mere .190/.288/.254 with a home run, seven RBI and eight runs scored.

Too bad the Yankees could not offer the same deal to Mariano Rivera.

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