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Jeter, Yankees Close on New Three-Year Contract, Times Reports

The New York Yankees and Derek Jeter are close to agreement on a three-yer contract that would pay the shortstop $15 million to $17 million a year, the New York Times reported on its website.

The contract will include a “creative hybrid-type option” for a fourth year that is “not vesting and is highly unusual,” the Times said, citing a Major League Baseball official briefed on the negotiations.

Jeter, 36, the team’s captain, batted .270 with a .340 on-base percentage in 2010, both the lowest in a season since he became a full-time player in 1996. The 11-time All-Star just completed a 10-year, $189 million contract.

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