Jeter deal leaves Yanks about $80M before tax

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Posted: Wednesday, November 6, 2013 12:00 am

NEW YORK (AP) - Derek Jeter's new contract has increased the Yankees' luxury tax payroll to $97.71 million for seven signed players next year. That leaves New York with about $80 million to spend on the rest of its roster if the team wants to get under the 2014 tax threshold.

Jeter and New York agreed Friday to a $12 million, one-year contract. Major League Baseball determined its value for purposes of the luxury tax is $12.81 million.

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