Major League Baseball

Reports: Yanks, Jeter closing in on deal

Published Dec. 3, 2010 12:00 a.m. ET

share

facebookxredditlink

foxsports

Derek Jeter and the New York Yankees have made ''significant or substantial progress'' on a new contract, according to multiple reports.

Both sides could agree to terms on a new contract as early as Saturday, according to a report by the New York Daily News.

"We certainly hope to get something done," Yankees GM Brian Cashman told the Daily News on Friday morning. "Both sides are working hard to try to find common ground. You have to go through the process."

Although negotiations moved slowly last month, there is little doubt the Yankees captain will remain in pinstripes.

Coming off a $189 million, 10-year contract, Jeter initially had been offered a $45 million, three-year deal. A source said the deal being discussed is now for three years in the range of $15 million to $17 million per season, with parameters for a potential additional season under discussion.

New York's also close to an agreement with closer Mariano Rivera on a two-year contract for about $30 million. The Yankees believe Rivera had received offers from the Boston Red Sox, Los Angeles Angels and possibly the Los Angeles Dodgers, the person said.

The Associated Press contributed to this report.

share

Get more from Major League Baseball Follow your favorites to get information about games, news and more

in this topic

Major League Baseball