The Times Freakonomics blog raises the delicate issue: How much should the Yankees pay their iconic but aging shortstop?

If I were Jeter, here’s what I might propose: a salary of just $1 a year to play for as long as I’m valuable, along with a lifelong personal-services contract in exchange for, say, a 5 percent stake in ownership of the team. (One estimatehas the Yankees worth about $1.3 billion, so a 5 percent share represents $65 million at the moment.) That’s a starting point; there’d be a la carte provisions as well — perhaps, for instance, if we mutually decided I should serve as player-manager next year.

I think Jeter is too proud to accept $1 for his playing time—though his skills are declining, he’d find it hard to accept such a blunt recognition of that fact.

And I expect the Yankees would rather sign him to a $65 million deal than give him any equity in the team. (Also, the Steinbrenners have quite a few limited partners, and I’m not sure they have 5% of the team to give away and still own a majority of the franchise.)

The real challenge is a Cal Ripken-esque one: Who’s going to go to Jeter and say, Derek, I’m sorry, but you can’t start at shortstop any more…?