- Associated Press - Saturday, December 4, 2010

NEW YORK (AP) - Derek Jeter and the New York Yankees have made “significant or substantial progress” on a new contract, a person familiar with the negotiations told The Associated Press on Friday.

The person spoke on condition of anonymity because no announcement had been made.

Although negotiations moved slowly last month, there is little doubt the Yankees captain will remain in pinstripes.

Coming off a $189 million, 10-year contract, Jeter initially had been offered a $45 million, three-year deal.

New York also moved close to an agreement with closer Mariano Rivera on a two-year contract for about $30 million. The sides worked on final details Friday and were likely to be in position to announce a finalized deal within a few days.

The Yankees believe Rivera had received offers from the Boston Red Sox, Los Angeles Angels and possibly the Los Angeles Dodgers, the person said.