X

Derek Jeter Farewell Gifts Could Cost Yankees Shortstop an Estimated $16,000

Kyle Newport@@KyleNewportFeatured ColumnistSeptember 23, 2014

USA Today

Derek Jeter has received many gifts from opposing teams on his farewell tour this year, but it's going to cost him in taxes when all is said and done.

According to the Chicago Tribune, the New York Yankees shortstop has received an estimated $33,000 worth of farewell gifts. The newspaper calculated that number by asking teams for figures, consulting experts and searching websites. Only the Tampa Bay Rays—who spent more than $6,000 on a custom kayak—revealed what they spent on their farewell gift for the Yankees captain.

Chris O'Meara/Associated Press

Former Yankees teammate and current Seattle Mariners second baseman Robinson Cano presented Jeter with a pretty expensive gift earlier this season.

Darren Rovell @darrenrovell

Robinson Cano gave Derek Jeter a $34K Jay-Z Hublot http://t.co/WXK0LabZzZ Jay-Z is of course his agent (H/T @ronberk1)

However, the 40-year-old needs to be prepared to pay some hefty taxes on the "free" gifts. The Chicago Tribune wrote that Jeter could end up owing around $16,000 in state and federal taxes on his farewell gifts. Anyone who thought that Jeter was getting all of this stuff for free is mistaken because he's going to have to hand over a nice pile of money to the government.

The estimated value of the gifts and the tax bill takes into account what Jeter has received so far. The Yankees could very well present him with more gifts as he wraps up the final homestand of his career, and the Boston Red Sox are expected to honor their longtime rival with presents in his final trip to Fenway Park this weekend.

Of course, Jeter can afford the tax that comes along with the gifts. According to Baseball-Reference.com, he is making $12 million in 2014 and has made more than $265 million in his 20-year career.

Video Play Button
Videos you might like

[Twitter]

slash iconYour sports. Delivered.

Enjoy our content? Join our newsletter to get the latest in sports news delivered straight to your inbox!