Remaining Contract: Two years, $33 million with a player option for $8 million ($3 million buyout).
It pains me to say this, but Derek Jeter is overpaid.
The 2010-11 offseason was a debacle for the New York Yankees. Not only did they miss out on Cliff Lee but they also overpaid Derek Jeter.
I know Jeter is a Yankee great and will go down as a Top 10, if not Top Five, Yankee all-time, has off-the-chart intangibles and is still a good player, but he is 37 years old and is not worth the price.
I do not blame the New York Yankees organization for signing him to this deal because they could not let Jeter walk, but they did not handle it correctly and in the end they overpaid. Not only did Jeter get over $50 million, but it became a PR nightmare that may have left some bad blood between Jeter and the Yankees.