New Long-Term Contracts
Anybody think Carl Everett's as valuable as Ken Griffey Jr.?
By 2003, he'll be paid as much.
Everett's new deal with the Sox gives him a $1 million
signing bonus and salaries of $4,667,000 in 2000, $7 million in
2001 and $8 million in 2002. This November, the Sox must decide
whether to exercise an option on Everett's services for 2003
at $9.15 million.
If they do, Carl Everett will be earning as much as Griffey.
After forcing a trade to his hometown Reds, Junior signed a
nine-year deal for at least $50 million less than his market
value. While Griffey's annual salary is nominally $12.5
million per year, more than half of the money is deferred without
interest and paid out through 2024. As a result, the present
value of Griffey's deal is about $9.2 million/year, or
roughly what Everett will earn in 2003.
Griffey's deal is even sweeter when compared to the contracts
of other top free agents. The Dodgers signed Shawn Green for $14
million/year. Mo Vaughn earns $13.3 million/year; Albert Belle,
$13 million; Bernie Williams and Larry Walker, $12.5 million.
Griffey's former teammate Alex Rodriguez will command twice
Junior's salary when he files for free agency after the 2000
season. By the time Griffey approaches Hank Aaron's home run
record, he won't be one of the game's fifty
But the Sox have a major bargain of their own. Before the 1998
season, when Nomar Garciaparra had fewer than 800 major league
at-bats, Dan Duquette locked him up through 2004. Nomar will earn
just $3.3 million in 2000, rising to $6.85 million in 2001 and
$8.6 million in 2002. Assuming he stays healthy and productive,
the Sox can then exercise options for 2003 ($11 million) and 2004
Nomar's numbers are similar to Derek Jeter's -- except
for the numbers after the dollar sign. Jeter, who has one more
year of major league seniority, won $5 million in salary
arbitration last year, settled this year's arbitration claim
for $10 million, and was reportedly offered a long-term deal
worth almost $17 million/year. Yankee fans can argue that
Jeter's worth more...but 50% more?
Even Pedro Martinez's contract now looks fiscally
responsible. The game's best pitcher earned the highest
salary of any hurler last year, but Randy Johnson and Kevin Brown
will soon pass Pedro. In fact, over the last four years of
Pedro's contract, Brown will earn $9 million more.
Pedro's a good deal. Nomar's a great deal. But Griffey
Junior may be the best deal in major league history.
Copyright © 2000 Doug Pappas. All rights
Originally published in the March 2000 Boston Baseball
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