NEW YORK, April 9 (UPI) -- A day after winning their home opener, the New York Yankees celebrated the signing of Manager Joe Torre to a three-year contract extension.
Financial terms were not disclosed, but there reports that Torre will earn about $7 million annually.
Along with making a commitment to manage the Yankees through 2007, Torre also agreed to a six-year deal as a team advisor.
"Everybody wants to feel like they are wanted and I love managing this team," Torre said Friday. "Now I'm glad that I'll be retiring as a Yankee."
Torre has been negotiating a deal with Yankees general partner Steve Swindal, the son-in-law of owner George Steinbrenner.
Entering the final year of a three-year, $16 million deal, Torre had said he would probably wait until after the 2004 season to decide if he wanted to remain as Yankees manager.
But that stance changed after the Yankees acquired Alex Rodriguez, the reigning American League Most Valuable Player, from Texas in February.
