The Yankees have offered Derek Jeter what can only be described as a fair deal. Three years for $45 million may not be the best offer that the Yankee captain can get if he does the unthinkable and tests the free agent market, but it’s more than enough to keep him comfortable. Besides, after coming off a 10-year deal that paid him $189 million, it’s not like Jeter needs any more padding in his bank account.

Jeter earned $21 million in the final year of his previous deal. His new contract offer averages $15 million per season, but he may try to negotiate for a longer term. The Yankees should listen, but should not go higher than four years. Three years with a team option would be perfect, maybe for $48-$50 million. What both Jeter and the Yankees need to do is figure out what each would gain by either Jeter rejecting this offer or the Yankees watching their franchise player go to another team.

That’s the problem for both sides in this deal. If Jeter walks, what’s his worth as a franchise after his career if he’s known not as a New York Yankee as opposed to mostly a New York Yankee? The answer is - significantly less. But should the Yankees offer Jeter a longer term deal? How does a 40- or 41-year-old Jeter fit into the Yankees plans at shortstop? These are problems both sides have to consider when evaluating this contract offer.

Jeter is at a point in his career where he’s proven what he is, and that’s an 11-time all-star, five-time World Series winner, five-time Gold Glove winner, four-time Silver Slugger Award winner, career .300 hitter, Yankees career hits leader and holder of countless other small honors. But he’s in the twilight of his career and he’s not capable of doing everything he’s done before, and he should not expect to be paid as if he can. The Yankees helped make Jeter, but Jeter also helped make the Yankees. $45 million is a fine offer, and both sides should be happy for the next three years.