Hal spends his money ... on Jeter

November, 1, 2013
11/01/13
3:09
PM ET


Despite coming off an injury-plagued season, the New York Yankees chose to reward captain Derek Jeter for all his years of good service by re-signing the shortstop to a $12 million contract for 2014.

The new contract is $2.5 million more than the player option Jeter could have picked up.

A source with knowledge of the negotiations told ESPN New York that the talks were largely held between Jeter and team owner Hal Steinbrenner, who both live in Tampa. Jeter's agent Casey Close handled the details of the contract.

Jeter, who turns 40 in June, had the option to opt out of the final season of his current four-year contract and try free agency. The original deal called for him to make $9.5 million in 2014 -- more than half of the $17 million he had earned the previous three seasons. But Steinbrenner and Jeter made sure that didn't happen and helped each other's causes.

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Andrew Marchand is a senior writer for ESPNNewYork. He also regularly contributes to SportsCenter, Baseball Tonight, ESPNews, ESPN New York 98.7 FM and ESPN Radio. He joined ESPN in 2007 after nine years at the New York Post. Follow Andrew on Twitter »

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TEAM LEADERS

BA LEADER
Jacoby Ellsbury
BA HR RBI R
.282 8 47 49
OTHER LEADERS
HRM. Teixeira 17
RBIM. Teixeira 48
RB. Gardner 64
OPSB. Gardner .789
WM. Tanaka 12
ERAM. Tanaka 2.51
SOM. Tanaka 135