After a back-and-forth that seemed to go on for much longer than it actually did and turned bitter in the middle, the Yankees ensured that Derek Jeter will forever wear pinstripes by signing him to a three-year, $51 million deal this week. Before we get into the meat of the deal, let?s get this out of the way -- this agreement is unlike any other we?ve seen in baseball in recent years. Despite the barbs sent Jeter?s way by New York?s brass, there was never any real chance that Captain Clutch would change employers. It would have been a complete public relations disaster for the Yankees and no team was going to come close to what Jeter was being offered by the team that drafted him back in 1992. Jeter is no longer a player worth this kind of contract. He is, however, a legend in New York and I would have been shocked to see the two sides agree on a deal worth anything less. It?s more a case of pay-it-backward than pay-it-forward, but it?s also not as if the Steinbrenners underpaid him leading up to these contract talks. Not including millions and millions in endorsements, Jeter has pocketed roughly $250,000,000 in the last fifteen years, including more than $15 million annually in each of the last eight seasons. Jeter is coming off his worst statistical season since 1996, when he made just 51 plate appearances as a rookie. He hit .270 with 106 strikeouts (against 63 walks) and had an OPS of .710. in 2010. His decline is alarming because he had such a productive year in 2009, when the Yankees went on to win their 27th World Series. He hit .334 with 18 home runs, 90 strikeouts and 72 walks. He also had an OPS of .871. Heading into the 2010 season he had recorded five-straight seasons with a batting average of .300 or better and an OPS of at least .771. What was even more shocking was when he slumped this past season. He was red-hot in April, hitting .330 with an OPS of .875 and four home runs. He didn?t hit over .300 in any of the season?s remaining months and in June, July and August, when the Yankees have typically made their run up the standings, Jeter hit .243, .245 and .239, respectively. Over that three-month stretch he registered a run of OPS numbers (.718, .622 and .652) that were dwarfed by relatively unknown center fielder Brett Gardner (1.006, .713 and .677). For what it?s worth, Gardner made $452,500 in 2010. Jeter finished the season with the worst OPS of any everyday player on the Yankees and also grounded into the most double-plays. His WAR was just 1.3, the worst ?Wins Above Replacement? he?s had since his rookie year. Once again, it was the lowest number among New York?s starters. It?s worth pointing out that fellow ?Core Four? member and aging catcher Jorge Posada had the second-lowest number with a WAR of 1.6. In Jeter?s defense, there are two ways to take his struggles in 2010. He?s either well past his prime, as his critics see him, or this past season was simply an aberration. It?s hard to believe that a player with the disciple, routine and pride that Jeter possess can turn 36 years old and lose his ability to be one of the Yankees? most important offensive players. Especially since he showed no signs of slowing down not even nine months earlier when he helped New York end their brief, but well-publicized championship drought. News that Jeter plans to alter his routine this winter, opting to spend time working out with hitting coach Kevin Long rather than on his own is an indicator that Jeter himself is aware of his diminished talent, even if he won?t admit it publicly. He has been a line-drive hitter for a majority of his career and has always had great success when putting the ball in play. You see it when he hits those just-over home runs to left and right field and it?s also embedded in his statistics. Jeter had a .307 batting average on balls in play in 2010, a number considerably worse than any season of his lengthy career. It?s sometimes a fixture of luck, but he?s had a BAbip of .356 in his career so it?s more than just good fortune in Jeter?s case and since it?s a statistic that ebbs-and-flows it?s very possible he could see that number, and in turn the rest of his stats, spike back up in 2011. Did the Yankees overpay Jeter? The answer is two-fold, they did and they didn?t. They aren?t hurting for cash and could have very easily caved into what Jeter and agent Casey Close wanted, another deal that paid the shortstop more than $20 million annually. That would have been an outrageous overpayment, but one that is somehow more justified than had they been overpaying someone without Jeter?s Hall of Fame r?sum? and sentimental value to New York. Grade for Yankees: B They saved face by not allowing Jeter to play elsewhere and also by structuring the optional fourth year of his contract so that he won?t make serious money if he?s not performing on the field. Ideally for New York, the third year would have been setup similarly, but it?s all relative to the player and team we are discussing. Grade for Jeter: A He wasn?t going to get anymore more elsewhere and his legacy would have been tarnished had he jumped ship when things got a little nasty publicly. Assuming he retires in the winter of 2014, he?ll have won at least five World Series titles and made a least eleven All-Star appearances while also tallying more than 3,000 hits. Even if he replicates his down 2010 efforts, he?ll finish the 2011 season at least 20th on baseball?s all-time list. By 2014, he?ll easily sneak into the top-ten and perhaps even higher. Not bad for a guy who has been both under and overrated for his entire career. Andrew Perna is Deputy Editor of RealGM.com. Please feel free to contact him with comments or questions via e-mail: [email protected]. You can also follow Andrew on Twitter: APerna7.