October 18, 2007, 3:40 pm
Torre Turns Down Yankees Offer
By Tyler Kepner
The Yankees offered Manager Joe Torre a one-year deal with a base salary of $5 million and the chance to make another $3 million in performance bonuses. But after 12 years and 12 postseason appearances (including four World Series titles), Torre turned it down.
“We respect his decision. We appreciate everything he’s done. But it is now time for the New York Yankees to move forward, and we will be doing it very quickly,” team President Randy Levine said.
General Manager Brian Cashman said that Torre’s successor has not been named, nor have potential candidates been formally identified. “I can promise you that the process is going to take some time,” Cashman said. “I ask for everyone’s patience as we review the individuals and make recommendations to ownership.”
Under the deal he was offered, Torre would have received a $1 million bonus for reaching the playoffs, another $1 million for reaching the American League Championship Series and $1 million if the team made the World Series. If he did lead the Yankees to the World Series in 2008, there would have been an $8 million option for the 2009 season.
Torre flew to Tampa earlier today and meet with Yankees officials at Legends Field, a day after George Steinbrenner, his sons and other Yankees executives held two days of meetings about the manager’s future.
Torre arrived at Legends at around 1:30 p.m. Eastern time. The meeting lasted a little more than an hour. Torre left the complex .
All of the higher-ups were present at Legends, including principal owner George Steinbrenner and his sons, Hank and Hal; President Randy Levine; General Manager Brian Cashman; and Chief Operating Officer Lonn Trost.
Cashman and Trost, who had left Tampa yesterday, apparently flew right back with Torre.