Report: Yankees Give Derek Jeter $56 Million, Fourth-Year Player Option

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The terms of Derek Jeter's new deal have been announced, and they are a far cry from the $100 million-plus numbers that the 36-year-old Yankee captain was apparently after.

According to MLB Trade Rumors, Jeter's deal includes $51 million over the first three years and an $8 million player option for year four. $9 million in incentives are also on table for the fourth year, with a minimum total earned of $56 million.

Jeter also apparently agreed to defer some of his salary to help the team deal with the luxury tax.

He will likely become the first Yankee to achieve 3,000 hits next season, needing just 74 for that achievement. He hit just .270 in 2010.

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