Nick Markakis and the Baltimore finalized his 6-year/$62 million contract today, thus giving the Orioles a player with which to build a nucleus around.. In terms of guaranteed salary, it is the largest Orioles contract behind only Miguel Tejada’s $72 million deal in 2003. According Jeff Zrebiec of the Baltimore Sun and Jayson Stark of ESPN, the terms of the contract are as follows:
Markakis will earn $3 million this year, $6.75 million in 2010, $10.25 million in 2011, $12 million in 2012, $15 million in 2013, and $15 million in 2014. There is a club option in 2015 for $17.5 million. There is a $2 million buyout clause but Markakis can void the option with no buyout and become a free agent. He also will receive a $2.1 million signing bonus. Markakis can raise his base salary each year by $500,000 if he makes the All-Star team, or finishes in the top 10 in MVP voting the previous year.
The deal is the largest in terms of total years for those that have reached agreement in salary arbitration this year. Kevin Youkilis’ 4-years is the second highest behind Markakis’ 6-years.
The deal avoids arbitration, one day after salary figures were exchanged. Markasis was looking for $5 million for 2009 while the Orioles’ offer figure was $2.9 million, or a difference of $2.1 million. That translated into Markakis receiving $950,000 below the mid-point of $3.95 million.
Still, the deal marks a hefty raise for the outfielder. Last season, Markakis made $455,000.
In other arbitration deals…
The Phillies reached one-year deal with reliever Chad Durbin and a two-year, $10 million contract for outfielder Jayson Werth.
Durbin will make $1.635 million this season. He had been asking $1.95 million in salary arbitration while the Phillies were offering $1.35 million. The deal reached is just below the mid-point of $1.65 million for Durbin ($15,000). He made $980,000 last season.
Werth will make $3 million this season and $7 million in 2010. He had been asking $4 million in salary arbitration while the Phillies were offering $3 million. The deal reached for his 2009 salary is below the mid-point of $3.5 million by $500,000.
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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 contributor to Baseball Prospectus, and is 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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