The Yankees plan to offer Derek Jeter a contract of at least three years, possibly by the end of the week, according to Joel Sherman of the New York Post. Jon Heyman of SI.com and Sherman both suggest the Yankees' initial offer will likely be worth roughly $45MM (Twitter link). However, Wallace Matthews of ESPNNewYork reported yesterday that the Yankees would be happy to agree to a three-year $63MM deal.
Sherman suggests the Yankees might be willing to increase their offer to the $57-60MM range on a three-year deal and notes that the team could offer a fourth year or an option for a fourth year. According to Matthews, Jeter wants at least a four-year deal and has a preference for a five or six-year contract.
At least one person in the Yankees front office wants the team to draw a hard line with Jeter, Matthews reported. Sherman finds it "very possible" that the Yankees will make an offer and tell Jeter to beat it on the open market if he doesn't like it. The Yankees insist that they'll be offering a baseball contract. Yankees president Randy Levine told reporters that Jeter's contract "isn't a licensing deal or commercial rights deal."