Report: No formal proposal from Jeter yet

BY foxsports • November 29, 2010

A baseball executive familiar with the negotiations tells The Associated Press that Derek Jeter and the Yankees haven't held contract talks in more than a week and the shortstop's agent has yet to make a formal proposal.

Agent Casey Close suggested about two weeks ago a deal averaging about $25 million for six years, the executive said Monday, speaking on condition of anonymity because details weren't made public.

The executive said the numbers were suggested loosely by Close and should not be interpreted as a precise request.

New York then made a $45 million, three-year offer. While not making a counterproposal, Jeter's side followed by suggesting a contract averaging about $23 million for four or five seasons.