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Giants sign MVP Buster Posey to $167 million contract

Mar 29, 2013, 3:06 PM EDT

Romo Posey Getty Getty Images

Justin Verlander isn’t the only former MVP getting paid today, as Andrew Baggarly of CSNBayArea.com reports that the Giants and reigning NL MVP Buster Posey have agreed to a nine-year contract.

Posey was set to make $8 million this season, but this new contract wipes that away and will pay him $167 million from 2013-2021. In doing so the Giants have bought out Posey’s three remaining seasons of arbitration eligibility (2014-2016) and his first five seasons of free agency (2017-2021), and there’s also an option for 2022.

Posey will be 35 years old in 2022, so this basically makes him a Giant for life. Not bad for a guy who was facing major questions this time last year as he came back from a broken ankle that ended his 2011 season. Posey’s deal is the second-highest in baseball history for a catcher, trailing only Joe Mauer‘s eight-year, $184 million contract with the Twins that was signed in March of 2010. Posey now, like Mauer then, is coming off an MVP-winning season that included a batting title, although he was further from free agency than Mauer then.

Here’s the full contract breakdown:

Bonus: $7 million
2013: $8 million
2014: $12.5 million
2015: $16.5 million
2016: $20 million
2017: $21.4 million
2018: $21.4 million
2019: $21.4 million
2020: $21.4 million
2021: $21.4 million
2022: $22 million option or $3 million buyout

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