Saturday, November 2, 2013
Creative financing: Yanks give Jeter a $2.5 million raise, yet supposedly save $1.1 million on their salary cap for 2014
Posted by el duque at 8:13 AM
Hal Steinbrenner yesterday, in one-on-one negotiations, settled with Derek Jeter on a $12 million contract for next year, giving the Captain a raise even though 2013 was a Jeterian wipe-out. It's a respect thing. Lifetime achievement award. Either that, or Hal has a problem with performance metrics.
But no complaints, right? I think we're good with this. Jeet did what he could. It just wasn't much, because of his ankle.
Buried in the deal is that the Yankees somehow figured out voodoo math with regard to the MLB budget. The deal raises Jeter's salary but lowers the Yankee payroll, as Hal chases the magical $189 million tax threshold. I dunno how they did it. Lawyers. Accountants. Bag men. Beats me.
You might think it would be MLB's investigating arm to figure this out, but we all know not to go there.
Onward and upward: This is the year we cook the books.