New York Yankees boss, Hal Steinbrenner, reiterated on Tuesday that there aren’t any contract extensions on the horizon for Derek Jeter and Mariano Rivera. The same goes for the club’s skipper, Joe Girardi.
“I just don’t believe in contract extensions” said Steinbrenner. “That’s throughout the organization, no matter who it is. And hopefully nobody takes that personally because it’s just business.”
As evidenced in prior negotiations with Joe Torre, Bernie Williams, and Andy Pettite, the Yankees aren’t keen on talking shop until after the season has concluded. There haven been instances in which this policy has proven to be costly.
In the case of Williams, he was almost lured to Boston during his first venture into free-agency, following the legendary ’98 World Series season. This forced the Yankees to pay top dollar, $87.5 million over seven years, to retain the All Star center fielder.
On the flip-side, they saved a ton by not extending Andy Pettite immediately after the 2008 campaign. The tenured lefty sat on the open market until the end of January. Pettite, who was demanding a contract similar to his ’08 salary of $16 million, watched in horror as his value took a nose-dive. The Yankees eventually re-signed him to a one-year deal worth $5.5 million, plus incentives.
Like it or not, this team can afford the calculated risk of over-paying for their own free-agents. It’s a prudent stance.
Derek Jeter will likely receive a five-year contract after this season in the neighborhood of $125 million. Now let’s pretend the club were to make an exception for their captain, they extend him before the conclusion of spring training. If Jeter sustains a serious injury, or his production falls off significantly during this season, that’s an insane amount of money good ‘ol Hal might as well just toss right into the Harlem River.
There’s no doubt about it, Jeter’s staying in the Bronx for a long time. The Steinbrenner policy stands to guard against any unforeseen developments. There’s no indication that Joe Girardi won’t return either.
As for Mariano, who knows. Maybe he retires, maybe he re-signs. Rivera finishing his career with a different club also remains a distinct possibility.
As I touched on in Monday’s post, even the Yankees have budget constraints nowadays. If Carl Crawford makes it to free-agency, GM Brian Cashman may have to choose between the five-tool outfielder and Rivera. Joba Chamberlain makes for a cheap in-house replacement to Mo. Come 2011, ‘Enter Sandman’ may no longer be the de facto tune blaring through the Yankee Stadium PA prior to the ninth inning.
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