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Jeter's Rich and Satisfied

Boston Herald, January 20, 2000

by Michael Gee

As shortstops, Derek Jeter and Nomar Garciaparra are equals. But Jeter's certainly proven himself to be a better businessman.

Jeter is reported to have reached agreement on a seven-year, $118 million contract with his current employer, the New York Yankees. By contrast, Garciaparra will be entering the third season of his seven-year deal with the Red Sox that's for a paltry $45 million.

Jeter was the 1996 American League Rookie of the Year. He's the linchpin of the Yankee lineup. Jeter's chosen to gamble on one-year contracts and arbitration fights with George Steinbrenner, trusting his value would continue to appreciate. Boy, has it.

Garciaparra was 1997 AL Rookie of the Year. He's the linchpin of the Sox lineup. He signed a long-term deal before his sophomore season, choosing a guaranteed return over risk.

The boxscore would seem to put Jeter $73 million ahead of Garciaparra. In the boom economy for baseball superstars, there's no incorrect financial strategy for potential MVP shortstops. Whatever deal makes the player happy will also make him obscenely rich.

All one needs to know about baseball economics is this: It wasn't just Garciaparra who took less than he could get for reasons of personal fulfillment. So did Jeter - the highest-paid player.

Garciaparra is one smart cookie. He had to know perfectly well that by accepting his deal in March 1998, he was costing himself millions in potential earnings. And while he's not boastful, Garciaparra isn't plagued by self-doubt. He didn't sign out of fear of a sophomore jinx.

Money disputes, one assumes, are one of those facts of modern baseball stardom, like celebrity, that the old-fashioned and gentlemanly Garciaparra finds vulgar. If it wasn't such a long commute to Fenway Park, the Sox shortstop would live in Vermont next door to J.D. Salinger.

So while he didn't want to be cheated, and wasn't, Garciaparra wanted to put money issues behind him as quickly as possible. It isn't how he keeps score.

Jeter is every bit the gentleman Garciaparra is. A quiet amount of celebrity, however, appeals to him. And while it's not his prime motivation, money is one way Jeter keeps score.

Since boyhood, Jeter has wanted to be a Yankee. He is destined to be one of the all-time Yankees. The Yanks have won three World Series in Jeter's four seasons and that's no coincidence. But Jeter also was determined to be paid fair market value for his services, a figure that would reflect baseball's constant salary inflation. Perhaps he felt the Boss wouldn't respect a team leader who wasn't also a sharp bargainer.

So Jeter bet on his health and prowess, and is at the payout window with the all-time winning ticket. He has fulfilled his childhood dream and can even feel altruistic about the process.

Because $118 million is far less than Jeter could have made had he played out the entire free agent process by waiting two more seasons to sign a long-term deal. It's probably $100 million less.

Jeter's good buddy and fellow shortstop, Alex Rodriguez of the Mariners, will be a free agent at the end of this year and will probably get a $200 million contract, although perhaps not from Seattle. Unfulfilled as a Mariner, Rodriguez doesn't see a way to keep score of his greatness except money.

Jeter reportedly told his friend in all seriousness that Rodriguez shouldn't let the size of his next contract be his only guide to choosing a team. Don't let the dough define you, advised the game's soon-to-be richest man. It's enough to make economists laugh and philosophers weep.

But that's not what's crazy about baseball. What's really nuts is that if and when Derek Jeter says his $118 million deal isn't just about the money, he's telling the absolute truth.