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Johan Santana Deal Different Than Originally Reported PDF Print E-mail
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Written by Maury Brown   
Thursday, 07 February 2008 20:59
Johan Santana

When you think the Mets picked the Twins' pocket on the Johan Santana trade, now comes word that the signing of the star pitcher is more favorable to the Mets than originally reported.

The figures have continued to move downward.

Consider how the deal has been reported:

  • Just before the deal was officially announced, the figures leaked to The AP were 7 years, $150.75 million.
  • Then, it was 6 years, $137.5 million, with a club option for 2014. The deal had him making $13.25 million in 2008.
  • Now comes word from Ken Rosenthal of FoxSports.com that deal is not $13.25 million in 2008, but now $19 million under the new terms, and that the total value in today’s dollars is $123.1 million, not $137.5 million, according to the MLBPA. And, it is not a six-year extension on top of the one year left on his previous deal.

To further sooth the impacts to the Mets in the here and now, they will defer $5 million annually at 1.25 percent interest.

Therefore, based on the revised figures, Santana’s average salary drops from the initially reported $22.9 million to $20.5 million over the life of the contract. The club option for 2014 remains with the salary for that year being $25 million. As reported by Rosenthal and FoxSports, if Santana hits any of these incentive clauses, the club picks up the option year:

  • He wins the Cy Young Award in any season from 2008 to '13 and finishes second or third in any other year;
  • He finishes second or third in the Cy Young voting in any three of the six years during his deal;
  • He pitches 215 innings in 2013 and is on the active roster (not including disabled list) throughout the final 30 days of that season.
  • He pitches 420 innings combined in 2012 and '13 and is on the active roster throughout the final 30 days of the final season.
  • He pitches 630 innings combined in 2011, '12 and '13 and is on the active roster throughout the final 30 days of the final season.

Some of these seem well within reach. The Cy Young related clauses are certainly a possibility. 

Maury Brown

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is also an author for Baseball Prospectus, Basketball Prospectus and is an available as a freelance writer.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.



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