Posada wants four years

From Mark Feinsand:

After the Yankees opted not to give Posada a contract extension during spring training, the catcher expressed his desire to play out the season and wait until the end of the year to discuss a new deal.

Given last month's events, which included the departure of Joe Torre and Alex Rodriguez's opt-out, Posada will wait to see what offers come in from other teams before making any decision.

The biggest sticking point for Posada may wind up being the length of a deal, as the 36-year-old is seeking a four-year pact, according to sources, who said the Yankees have internally discussed an offer of three years and $40 million. With the Mets expected to be one of the teams in the bidding, Posada plans to see what his market value is, though the Yankees likely will do whatever they must in order to retain the popular 11-year veteran. (New York Daily News)

I'd be extremely hesitant to give Jorge Posada a four-year deal. However, after losing Alex Rodriguez, they can't lose Posada's bat too (at least for this season). He will need to start taking grounders at first base if he starts to decline due to age behind the plate.