Per Jon Heyman, Derek Jeter could be activated off of the DL this coming Sunday, July 28th against the Tampa Bay Rays. The Captain's is eligible to come off of his DL stint this Saturday, but the Yankees are talking extra precautions with Jeter. When Derek Jeter came off of the DL on July 11th he suffered a Grade 1 quad strain while running down the base line. Needless to say, it is perfectly understandable why they are being a bit more cautious this time around.
Jeter will play in a simulated game this Saturday and the Yankees will judge whether or not they will activate him this Sunday or not. He says he "feels fine" and "is ready to play," which is typical for Jeter. With the Yankees' recent acquisition of Alfonso Soriano, having Jeter's bat (hopefully still in 2012 mode) back in the lineup would go a long way to making it seem like an offensive threat.
Hideki Matsui's retirement as a Yankee is also scheduled for that Sunday. Having Jeter in the lineup would be an extra treat for what should already be a great day in the Bronx.