New York Sports

NEW YORK (CBS) ― New York Yankees manager Joe Torre rejected a contract offer to return in 2008, CBS 2 HD has learned, a decision that sent shockwaves to the large Yankees fan base who have voiced their desire to keep the beloved manager for another season.

Torre was offered a one-year contract believed to be worth $5 million with an option for 2009.

"It's a difficult day," general manager Brian Cashman said. "He will always be a Yankee."

The Yankees said a search for a successor is already underway. The list of candidates will almost certainly include bench coach and Yankee great Don Mattingly and Joe Girardi, the 2006 N.L. Manager of the Year with the Florida Marlins.

Tony La Russa and Bobby Valentine also could be considered.

"It is now time for the New York Yankees to move forward," Yankees President Levine said. "We thought it was very fair. It clearly was at the top of the market, but we respect Joe's decision."

Levine admitted he was not surprised Torre turned down the offer, despite many fans hoping he would return to at least finish his career in pinstripes during the Yankees' final season at Yankee Stadium.

Despite Torre's rejection of a contract extension, Yankees broadcaster Michael Kay feels he may still return. "I think that what the Yankees will do is they'll probably gauge the fans' reaction. If a lot of people are in favor of it, they'll leave it alone," said Kay. "But if a lot of people are against Joe Torre not coming back, they might re-vist it. I wouldn't say it's a 100% closed."

Under Torre, the Yankees went 1,173-767. He trails only Joe McCarthy (1,460) for wins among Yankees managers. He guided the Yankees to the playoffs every season since he began managing the squad in 1996, including winning four World Series titles, a reason that undeniably led to the team wanting him to return.

With 2,067 regular-season wins, Torre is eighth on the career list and was third among active managers behind Tony La Russa of the St. Louis Cardinals (2,375) and Bobby Cox (2,255) of the Atlanta Braves. Torre's four World Series titles are likely to earn him a place in the Hall of Fame -- every manager with three or more has been inducted.

Torre's was the longest uninterrupted term for a Yankees manager since Casey Stengel held the job from 12 years from 1949-60. Stengel was pushed out, too, let go after his team lost a seven-game World Series to Pittsburgh.

Cashman personally flew from Tampa, Fla., where the team's organizational meetings were being held, to New York so he could bring Torre back with him to the meetings. Once there, Torre listened to the offer and said it wasn't acceptable. He shook hands with several members of the Yankees' brass and headed home.

Torre declined to speak to a group of reporters gathered outside his house in suburban Harrison. His wife, Ali, arrived a few minutes later and said their time in New York had been fun. "It's always difficult to say goodbye," she said, "but there's always hello."

Torre scheduled a news conference for Friday afternoon. He indicated last week that he might be interested in managing elsewhere. New York's offer included $3 million in bonuses if the Yankees reached next year's World Series and an $8 million option for 2009 that would have become guaranteed if New York won the AL pennant.

It was widely speculated his current contract, which expires at the end of the month, would not be renewed after the team fell to the Cleveland Indians in the American League Division Series. Owner George Steinbrenner voiced that sentiment after the Yankees lost the first two games of the series.

Though he opted to avoid the question directly, the 67-year-old made it clear during the post-game news conference after the series ended that he was well aware he may have just managed his final game in pinstripes.

"This has been a great 12 years," Torre told reporters. "Whatever the hell happens from here, I'll look back on these 12 years with great, great pleasure based on the fact that I am the kid who had never been to the World Series other than to see my brother play in the 50s, to have been to six world series and going to the post season – I can tell you one thing: it never gets old."

Torre's career managing the Yankees began after the 1995 season. At the time, many media outlets criticized Torre's hiring as he'd never managed in the American League before then, and achieved only mild success during tenures as manager of the St. Louis Cardinals, Atlanta Braves, and New York Mets.

He answered those critics by winning the World Series in his first season in 1996, and went on to capture three more championships from 1998-2000. He guided the Yankees back to the World Series in 2001, before falling to the Arizona Diamondbacks, and again in 2003, where they lost to the Florida Marlins.

In 2004 the Yankees lost to the Boston Red Sox in a historic ALCS that saw Boston come back from a 3-0 series deficit and win four straight to advance to the World Series, which they would go on to win.

Since that monumental collapse, the Yankees are just 4-9 in the postseason, losing in the ALDS in 2005, 2006, and 2007.

Questions surrounding Torre's future would become a hot media topic again after the Yankees were eliminated from each series.

There was also growing frustration after the team struggled during the first half of the 2006 and 2007 seasons.

Despite those times of doubt, there is no question at all that Torre's tenure as manager will be worthy of a spot in the Hall of Fame, and his credentials are a large reason why the majority of fans wanted him back. A wcbstv.com asking who should manage the Yankees in 2008 resulted in an overwhelming response, with nearly 75 percent of voters choosing Torre.

"These fans are very special. You can feel their heartbeat," Torre said after this season's ALDS.

Even Mayor Michael Bloomberg spoke out about Torre, saying he would bring him back again if he had any say.

"Keep Joe. Keep all the players you can. It's a great team. It just didn't work this year," fan John Garretto said.

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)