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Details of Johnny Cueto’s new contract

Jan 27, 2011, 1:16 PM EDT

Philadelphia Phillies v Cincinnati Reds, Game 3 Getty Images

Via the Associated Press, here are the details of the contract extension Johnny Cueto signed with the Reds yesterday:

2011 – $3.4 million
2012 – $5.4 million
2013 – $7.4 million
2014 – $10 million
2015 – $10 million team option or $800,000 buyout

Add it all up and Cueto, who submitted a figure of $3.9 million for arbitration this year, receives $27 million in guaranteed money while the Reds buy out his three seasons of arbitration eligibility plus his first season of free agency and secure an option for his second year of free agency.

Taking that kind of upfront cash is rarely a mistake for a 24-year-old pitcher, but if Cueto stays healthy the Reds will likely be very happy with the deal. Barring arm problems his first two years of free agency could be worth significantly more than $20 million and the Reds were able to gain the two additional seasons of control without going crazy on any of the salaries for arbitration seasons.

  1. theman1932 - Jan 27, 2011 at 2:47 PM

    Great signing! I just hope they don’t throw that kind of money to Volquez

  2. saints97 - Jan 27, 2011 at 4:02 PM

    Good idea for the Reds to avoid 3 arbitration hearings with this guy. Those hearings get pretty nasty, and you don’t want to risk making the queen of Dominican jiu-jitsu feel backed into a corner.

  3. Old Gator - Jan 27, 2011 at 6:28 PM

    $27 million. Ain’t that a kick in the head?

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