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Torre rejects Yankees' offer

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04:31 PM ET 10.18 | Joe Torre turned down a deal to return as Yankees manager for a 13th season on Thursday. In a conference call, Yankees president Randy Levine said the club offered him a $5 million contract for 2008 with incentive clauses that could have increased the value to $8 million. The option for 2009 would have kicked in if they won the World Series. "It is now time for the New York Yankees to move forward," Levine said. "We will be doing that very, very quickly."

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Joe Torre, AP Joe Torre, AP

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