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Report: Bombers, Jeter agree on one-year deal

New York, NY (Sports Network) - The New York Yankees and star shortstop Derek Jeter reportedly have agreed on a one-year, $10 million contract, according to the Daily News. The two sides reportedly are close to working out a seven-year, $118.5 million package, which would make Jeter the highest-paid player in baseball history.

Jeter's new deal is expected to be announced on Thursday.

Jeter, who won a $5 million arbitration award last year, was eligible for arbitration again this year. Jeter had asked for an arbitration record $10.5 million for the 2000 season, while the Yankees countered with $9.5 million.

Jeter's contract will be the highest baseball has seen since Kevin Brown agreed to a seven-year, $105 million contract before the 1999 season, and the second-highest in all of team sports. Kevin Garnett of the Minnesota Timberwolves signed a six-year, $126 million deal before the 1997-98 campaign.

However, Jeter's proposed deal probably won't be the highest one for long, as Detroit outfielder Juan Gonzalez has been offered an eight-year, $140 million package from the Tigers, who recently acquired the slugger from the Texas Rangers. Also, both Ken Griffey Jr. and Alex Rodriguez of the Seattle Mariners are in the market for long-term, big-money deals.

Jeter hit .349 with 24 home runs, 219 hits and 102 RBI, all career highs, in 158 games last season, and has established himself as an indispensable component of the team that has won the World Series three of the last four years.