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Kevin Millwood can earn up to $5 million from Yankees, has May 1 opt-out clause

Mar 25, 2011, 3:15 PM EDT

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Now that the signing is official Marc Craig of the Newark Star Ledger has the details of Kevin Millwood‘s minor-league contract with the Yankees.

Millwood can opt out of the deal if he’s not in the majors by May 1. If he does get added to the roster his base salary will be $1.5 million and then he can earn an additional $3.5 million in incentives, with $500,000 each for 5, 10, 15, 20, and 25 starts and $1 million for 30 starts.

He has about as much chance of making 30 starts for the Yankees this season as I do, but there’s a decent chance he’ll join the rotation at some point in the next month and would probably be given at least a handful of starts to prove himself, which would add up to $2 million total.

At this point it looks like both Freddy Garcia and Bartolo Colon will crack the Opening Day pitching staff, whereas Millwood likely wouldn’t be an option until mid-April because he waited so long to sign while holding out for a guaranteed deal that never came. He went 4-16 with a 5.10 ERA for the Orioles last year, including 0-2 with a 5.70 ERA against the Yankees.

  1. iranuke - Mar 25, 2011 at 3:28 PM

    From the Yankee’s perspective this is a very wise investment. If he makes is 30 starts, he will be worth more than what they will pay him and if he isn’t worth the starts, they aren’t out much.

    • henryd3rd - Mar 25, 2011 at 3:41 PM

      Is the art of stealing signs still alive? Do you think Millwood knows the Orioles’ signs? Plus I am sure he has something to prove to Buck and the Orioles and that is that he can still pitch in the Bigs.

  2. uyf1950 - Mar 25, 2011 at 3:40 PM

    Essentially he signed for the same money as both Colon and Garcia. Bottom line is all 3 if they meet all their incentives (which is probably very unlikely) will each earn $5MM. Considering Millwood at best will start the season in Scranton for about 3 weeks and then only be called up if he doesn’t opt out and if Colon or Garcia tank it early on. Otherwise there is no room for Millwood on the 25 man active ML roster. Then there is the trade deadline and any opportunities for the Yankees to make a trade. My guess is at the very most he’ll make 10 starts, and that’s at the very most. Potentially it could be less or even none. So it’s cheap insurance for the Yankees.

  3. bloodysock - Mar 25, 2011 at 4:27 PM

    This is another example where Boras overestimated the market for one of his non-prime free agents.

  4. pisano - Mar 25, 2011 at 6:01 PM

    For some reason I don’t think he’ll be around long enough to pick up most of the incentives. I’m just sayin.

    • uyf1950 - Mar 25, 2011 at 7:18 PM

      pisano, my friend how are you doing?

      • pisano - Mar 25, 2011 at 8:47 PM

        uyf1950… I was a little shocked over the Mitre deal, but I seemed to be one of the very few posters who had any faith in him. Maybe that should have told me something. I’m still hoping for that deal for a solid starter, but if it doesn’t happen the Yankees must feel they can win with what they have in house. As you say : just my opinion”

  5. purnellmeagrejr - Mar 25, 2011 at 6:17 PM

    As a Mets fan my worst fear was that he would end up on my team. Having him on the Yankees is an outcome that exceeds my wildest Yankee hating dreams.

  6. rapmusicmademedoit - Mar 25, 2011 at 6:54 PM

    I know one thing, he won’t be making any post season starts for the Yankees.I

    I’m just saying…………..

  7. Panda Claus - Mar 25, 2011 at 9:18 PM

    For the price this seems like a smart and safe deal. I’m in the minority of those that think he can’t possibly pitch as badly as he did last season. And that was after watching him lose 16 games for the team I follow.

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