Sun, Mar 31, 2013 - Page 18 News List

Stars share in Major League Baseball’s cash glut

AP, NEW YORK

“It’s good to see these players are getting tied up with their club. It’s the way it used to be,” Giants manager Bruce Bochy said. “I know growing up when you were playing on a team they pretty much had the same core players, and it seems like it’s going that way again with the long-term contracts.”

Verlander’s deal broke the standard for pitchers set just a month earlier when Seattle’s Felix Hernandez agreed to a US$175 million, seven-year contract. The 30-year-old right-hander did not feel a need to wait two seasons, become a free agent and find out how much baseball’s biggest spenders would offer.

“I wondered what it would be like to test free agency, but the pull of Detroit was too much,” he said. “Once spring training started I knew I wanted to stay.”

Verlander’s deal keeps his US$20 million salaries for each of the next two seasons and adds US$140 million in guaranteed money: US$28 million each season from 2015 to 2019. It includes a US$22 million option for 2020 that would become guaranteed if he finishes among the top five in 2019 Cy Young voting. The deal could be worth US$202 million over eight seasons.

Posey’s deal includes a club option for 2022 that could raise the value to US$186 million over a decade.

He had been due to make US$8 million this year. Instead, the 26-year-old gets a US$7 million signing bonus, with US$5 million payable on Oct. 15 and the remainder on Jan. 15 next year, and his salary this year is reduced to US$3 million.

He is to make US$10.5 million next year, US$16.5 million in 2015, US$20 million in 2016 and US$21.4 million in each of the following five seasons. The Giants’ option is for US$22 million with a US$3 million buyout.

“You have to have the right player to do that,” said CAA Baseball agent Jeff Berry, who handled Posey’s contract and Matt Cain’s US$127.5 million, six-year deal last spring.

“That’s the key to it,” he added.

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