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Joe Torre rejects Yanks' offer

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To those of you sitting at home who often think you can manage your favorite baseball team better than those actually in charge -- a position just came open.

On the heels of the New York Yankees bowing out in the first round of post-season play -- again -- Joe Torre has parted ways with the legendary club, but on his terms. Instead of being dismissed, as many fans and sports analysts were anticipating, Torre was actually given the option of a one-year contract carrying a price tag of $8 million (including incentives).

But the former Yankees skipper -- who held the title for 12 years and ranks second in the club's history for number of wins (at 1,173, trailing only Joe McCarthy) -- met Thursday afternoon with Yankee general manager Brian Cashman and owner George Steinbrenner to turn down the offer.
Wheels were quickly in motion, as club president Randy Levine told the New York Daily News: "We respect his decision ... it's now time for the New York Yankees to move forward. We will be doing that very very quickly." Some think the first choice for the job will be Don Mattingly, who served as the Yankees bench coach this year and has been with the Yankees in a coaching capacity since 1997.

After what would ultimately be his final game on October 8, a choked-up Torre said "This has been a great 12 years. Whatever the hell happens from here on out, I'll look back on these 12 years with great, great pleasure."

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

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Last updated: November 24, 2009: 01:51 PM

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