Derek Jeter Wins Salary Arbitration Hearing Against Yankees; Awarded $5 Million Contract

Jet, March 8, 1999

Derek Jeter, shortstop for the World Champion New York Yankees, won a salary arbitration hearing against the team to land a $5 million contract for this season.

The victory makes Jeter, who was paid $750,000 last season, the first player this season to win an arbitration hearing.

A three-man panel, after hearing arguments in Tampa, FL, rejected the team's offer of $3.2 million to the All-Star shortstop.

"That's a lot of money. I'm not going to kid you," Jeter said after he was informed of his victory.

Jeter's new deal gives him the highest salary in history for any player with three to four years of service time, according to the New York Times.

His $5 million arbitration victory ties the second-largest in baseball history. And, the $1.8 million disparity between the numbers submitted in the Jeter hearing was the largest ever.

Yankees owner George Steinbrenner explained that there were no hard feelings toward Jeter. "I consider Derek part of the family," he told the Times. "Derek did what he had to do ... I have no bad feelings. I'm just a lot poorer."

Jeter hit .324 last season with 19 homers, 84 RBIs and 30 steals. He was first in the American League in runs with 127.