After 12 seasons and 12 playoff appearances, including 10 AL East titles, six pennants, and four world championships, manager Joe Torre rejects the Yankees’ overture, which calls for a pay cut. The non-negotiable offer – a one-year, $5 million deal with $1 million incentives per playoff round and an $8 million option for 2009 if the Yankees reached next year’s World Series – was considered by many to be insulting and a ploy to oust the popular manager without upsetting the team’s fans.

On October 19, 2007 — After 12 seasons and 12 playoff appearances, including 10 AL East titles, six pennants, and four world championships, manager Joe Torre rejects the Yankees’ overture, which calls for a pay cut. The non-negotiable offer – a one-year, $5 million deal with $1 million incentives per playoff round and an $8 million option for 2009 if the Yankees reached next year’s World Series – was considered by many to be insulting and a ploy to oust the popular manager without upsetting the team’s fans.

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Sources:
Baseball Reference October 19
National Pastime October 19
Retro Sheet
Hall of Fame
SABR Games Project
Replay The Game