Tuesday, July 5, 2011

How Jeter Got An Extra 4-5 Million Off Randy Levine

From "The Captain: The Journey of Derek Jeter"

They met in the skyscraping Trump World Tower home Jeter had put on the market for $20 million, this while Cashman met with his other future Hall of Famer, Mariano Rivera, to work on the closer’s free agent deal in Rivera’s suburban Westchester home. The Rivera talks were as quiet as Rivera himself, even as the Red Sox were making an attempt to extricate him from the Bronx.

Jeter was the one who had to scratch and claw for his money while millions of fascinated fans looked on. Inside his Trump home, Jeter told Levine he wanted more money added to the incentives clauses in the proposal. At the time the offer included bonuses for winning awards such as league MVP, World Series or League Championship Series MVP, Silver Slugger, and Gold Glove.

Jeter spent a couple of hours arguing that those awards are very difficult to win, and that the contract numbers didn’t reflect the degree of difficulty. He made persuasive arguments. Levine absorbed the captain’s points, called Cashman and Steinbrenner while Jeter called Close, and the two sides ended up a yard or two away from pay dirt.

As it turned out, Jeter made himself about $4 to $5 million in extra money in that meeting with Levine. The Yankees agreed to raise the ceiling on the incentives plan to $9 million, and that night the parties set up a meeting for late the following afternoon to close the deal at the Regency in the city.

From The Captain

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