This is the official story. Here's what really happened:
New York Yankees: Joe Torre, you can return as Yankees manager in 2008. But you will have to accept a one-year, $5 million contract (a pay cut of $2.5 million, although he would still be MLB's highest-paid manager). And you will still have to endure public tongue lashings by largely senile owner George Steinbrenner, plus the unrealistic expectations of New York media and fans.
Joe Torre: No thanks.