I thought it was very fair. But the press today has been reaming out the Yankees.
Yes it was a pay cut, but Torre was WAY overpaid based on the early success.
$5 mil guaranteed with a possible $3 mil more seems extremely fair when you consider Pinella is the next highest paid at $3.5 mil and most are even close to Pinella.
I think Joe's pride just got the best of him and decided he didn't want to be the punching bag any more.
I think the Yanks could have taken or leaved Torre, but if that was truly the case, they could have offered him Pinella money (or less).