I know that this is largely symbolic, but wow!

I have to guess that this is much more he could expect as a free agent, unless someone would pony up the cash due to his name alone.

http://espn.go.com/new-york/mlb/story/_/id/9912563/new-york-yankees-sign-derek-jeter-one-year-deal

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I have to guess that this is much more he could expect as a free agent

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With the $9.5 million player option, I'm sure he'd be careful not to go out and end up with a sub $9.5 million contract.

That they gave him a bit of a "raise" I fairly symbolic, I think.

Wow! The Yankees have a lot of money to throw around.

if you don't understand why they signed him for 12M instead of the 9.5M, then i don't know what to tell you

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if you don't understand why they signed him for 12M instead of the 9.5M, then i don't know what to tell you

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Ooooh, I know!

Robert Andino (30)
Clint Barmes (35)
Willie Bloomquist (36)
Jamey Carroll (40)
Alexi Casilla (29) - $3MM club option with a $200K buyout
Luis Cruz (30)
Stephen Drew (31)
Yunel Escobar (31) - $5MM club option
Rafael Furcal (36)
Alex Gonzalez (36)
Nick Green (35)
Brendan Harris (33)
Cesar Izturis (34)
Munenori Kawasaki (32)
John McDonald (39)
Jhonny Peralta (32)
Cody Ransom (38)
Brendan Ryan (32)

Because those are the free agent shortstops, and the Rays will probably keep Escobar; the ones on the Yankee roster not named Jeter are even worse than everyone else on this list. If they get even 18 games out of him, they'll have come out on top.

Peralta would've been a better option for offense and Drew would've been a better option for defense.

Token:

Then try and tell me why because I do not get it.

Kind of surprising since they are trying to get under the luxury tax level, and they are going to be very close on that, if arod's suspension gets changed to 50 games.

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Then try and tell me why because I do not get it.

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his contract was due to count 14 million against the luxury tax

this new contract will cost 12

saves the yankees 2 million against the 189 threshold

OK, but if they would have signed him for $10 million, then they would have saved 4....

How was 9.5 due to count 14?

It wouldn't.

Per the article:

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If Jeter had picked up his option, his luxury tax number for next season would have been in the $10 million range, according to sources with knowledge of the how the luxury tax works. With the new salary, it will be in the $12 million range.

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So signing him to this new contract adversely affects the salary cap if the Yankees are actually trying to get under it.

Jeter squeezed them. Why $9.5 million player option was not good enough for him is beyond me but crap all mighty. Jeter has a ton of money off the Yankees. No need to get an extra $3 milllion off them.

I'm going to assume that, financially, the deal works out for both the Yankees and Jeter. There are enough lawyers and accountants around to make sure of that.

The only thing we should be giving the Yankees (and Token) a hard time about is the wisdom of paying so much money to a 39 year old shortstop that's coming off of a pretty serious injury, and whose defensive skills have declined (even when one ignores how overrated said skills were to begin with).