Oct 31, 2011, 7:29 PM EDT
Well, here’s a surprise.
Most expected Sabathia would opt out of the remaining four years and $92 million on his contract and test free agency, but both sides worked hard to hammer out a new deal before tonight’s deadline.
As Buster Olney of ESPN.com reports, this essentially is a one-year contract extension. Sabathia will earn $25 million in 2016 while Ken Rosenthal of FOXSports.com hears that the contract includes a $25 million vesting option for 2017 or a $5 million buyout. The 31-year-old left-hander is now guaranteed $122 million over the next five years, or $24.4 million per year, which tops Cliff Lee ($24 million) for the highest average annual value for a pitcher.
UPDATE: Joel Sherman of the New York Post reports that the option for 2017 automatically vests unless Sabathia ends the 2016 season on the disabled list with a shoulder injury, spends more than 45 days on the disabled list in 2016 due to a shoulder injury or makes at least six relief appearances in 2016 due to shoulder issues.
UPDATE II: The Yankees are currently holding a conference call and have sent out a press release. This baby is official.
- Triples Machine: After a decade in the minors Royals rookie Paulo Orlando is demolishing triples records 5
- What Bryan Price’s rant was really all about 49
- And That Happened: Monday’s scores and highlights 23
- Report: Cubs calling up prospect infielder Addison Russell 30
- Jonathan Lucroy headed to disabled list with broken toe 9
- Reds manager Bryan Price goes on profanity-laden tirade against media 69
- And That Happened: Sunday’s scores and highlights 75
- Report: Marlins manager Mike Redmond is on the hot seat 41
- “We no longer need the terrorists. We’re now so good at terrorizing ourselves.” (143)
- Another argument in favor of making the DH universal (129)
- When it comes to Josh Hamilton, Arte Moreno is a craven opportunist, not a “smart businessman” (116)
- Joe Buck has a truly awful suggestion about how to improve MLB broadcasts (111)