It’s reportedly happened; Derek Jeter will be wearing the immaculate pinstripes for a few more years.

A source with knowledge has told ESPN that Derek Jeter has re-signed for a three year contract that will pay him $17 million. The end of the contract has an option for a fourth year at a lower salary the report says.

Now it’s time for Cashman to focus in on big fish Carl Crawford and Cliff Lee at the Winter Meetings. With Jeter out of the way now, the Yankees know what they can do and how much lenience they have with the money they will undoubtedly toss around.

It was expected for Jeter to return home to New York. When you think of the Yankees, you think of Jeter. He is synonymous with the Yankee brand. Jeter is coming off his worst statistical year to date, batting .270 which is 40 points lower then his career batting average of .314.

His new contract keeps him ahead of the recently extended contract of Colorado Rockies shortstop Troy Tulowitzki. Jeter’s reported new contract will also give him a pay cut of $2 million from his ten year $189 million contract he signed back in 2000. 

Jeter was reportedly asking for a four to six year deal worth between $22 and $24 million. Derek may have ended up far below his asking price but, you can’t put a price on a championship.

Jeter was asked to take a “reality potion” because of his demands and asked to test the market. Reports will probably spill out this week as to who has contacted the Yankee captain.

Now comes the the part where parades fill the streets of New York as Jeter will be a Yankee for three more (possibly four) and dominate like he always has.

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