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Padres sign Cory Luebke to contract extension

Mar 30, 2012, 9:50 PM EDT

Cory Luebke Getty Getty Images

After locking up center fielder Cameron Maybin and catcher Nick Hundley on long-term deals earlier this month, the Padres just announced a short while ago that they have signed left-hander Cory Luebke to a four-year contract extension with club options for 2016 and 2017. The deal could potentially cover all of his arbitration seasons and his first year of free agency.

Corey Brock of MLB.com reports that Luebke will receive a $500,000 signing bonus to go along with salaries of $500,000 in 2012, $1 million in 2013, $3 million in 2014 and $5.25 million in 2015. The club option for 2016 is worth $7.5 million while the 2017 option is worth $10 million.

Luebke only has 157 2/3 innings to his name in his big leagues, but he had an impressive 3.31 ERA and 111/29 K/BB ratio over 17 starts after being moved to the rotation last June. This is a bit of a calculated gamble for San Diego, but with only $12 million guaranteed, it could pay off big if the 27-year-old continues to progress.

  1. sdfanboy - Mar 30, 2012 at 10:29 PM

    Why? This kid has talent yes, but needs to prove more. His numbers weren’t the best last year. And he pitches in Petco!!!

    • Glen - Mar 31, 2012 at 9:21 AM

      So let me get this straight: his numbers are aided by Petco, therefore it doesn’t make sense for the team that plays half of their games in Petco to sign him to an extension?

  2. Baseball Beer Burritos In That Order - Mar 30, 2012 at 10:55 PM

    Last year’s numbers: 9.9 K/9, 3.50 K/BB, 1.067 WHIP…and he made $415k. AND he had better numbers on the road than at Petco. There are 31 other teams that would have given this guy a contract extension, fortunately for the Padres you don’t work in the front office.

    • Baseball Beer Burritos In That Order - Mar 30, 2012 at 10:55 PM

      This was supposed to be a reply to sdfanboy.

  3. btwicey - Mar 31, 2012 at 2:20 AM

    Lol agreed . Dumbass

  4. thetruth113 - Mar 31, 2012 at 3:06 AM

    What a steal. $16 million for his 3 arb years? If he improves at all they will have saved at least $15 million there and another $10 million in that FA year. Padres front office has been really sharp this offseason. If they keep using their money to extend their young guys on the cheap, they will be the Rays of the NL within a year or two.

    This trend that the Rays started of extending guys with a year or less experience has been great for baseball and I hope every team starts doing the same. No better way to balance the playing field. These deals are all gambles to some extent but they are so cheap that you don’t even have to bat 50% with them to come out on top. Look at that Salvador Perez deal. For 7 years, 12 million you could lose guys for their career a year into that deal 3 times over and still be ahead the one time it works out.

  5. trybe29dr - Mar 31, 2012 at 8:40 AM

    A trend that the Rays started? You mean a trend that John Hart started with Cleveland in thw 90s years before the Rays were even thought off

  6. sdfanboy - Mar 31, 2012 at 9:45 AM

    I get his numbers. What was the rush here. You still have control for 4 more years. My only thought is sign long term for the cheap so we can trade him later. That’s what Padres always do anyways!

    • gloccamorra - Apr 1, 2012 at 11:48 PM

      “My only thought is sign long term for the cheap so we can trade him later. That’s what Padres always do anyways!”

      You still don’t get it, do you? THAT’S THE STRATEGY!

      A small market team can’t compete for free agents, it has to develop players and sign them to such contracts to get their good years on the cheap before they’re outbid by the big clubs.

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