Jeter re-ups for 3 years, $51M

Derek Jeter is keeping his pinstripes, just like everyone expected.

The iconic shortstop and the New York Yankees reached a preliminary agreement Saturday on a $51 million, three-year contract with an $8 million player option for 2014, a person familiar with the negotiations told The Associated Press.

The person spoke Saturday on condition of anonymity because no announcement had been made.

While negotiations moved slowly, there was little doubt the Yankees captain would remain in the Bronx. Beloved by fans and respected by his peers, Jeter wants to be a Yankee for his entire career in the mold of Lou Gehrig, Joe DiMaggio and Mickey Mantle.

The guaranteed portion of the contract includes a $3 million buyout if the option is declined. If it is exercised, Jeter would earn $56 million over four seasons.

There is deferred money, which for the purposes of baseball’s collective bargaining agreement and the luxury tax brings its average annual value to about $16 million, just above the $15,775,000 average in the 10-year deal agreed to this week by Colorado’s Troy Tulowitzki.


All-Star slugger Adrian Gonzalez was in Boston on Saturday to take a physical exam needed to complete a trade from the San Diego Padres to the Red Sox, two people familiar with the situation said.

The people spoke on condition of anonymity because the trade hasn’t been finalized.

The Padres will receive three of Boston’s top prospects, plus a player to be determined. The prospects are pitcher Casey Kelly, first baseman Anthony Rizzo and outfielder Reymond Fuentes.


The St. Louis Cardinals and free-agent first baseman/outfielder Lance Berkman have agreed to an $8 million, one-year contract.