According to Enrique Rojas of ESPN the Cubs have signed Starlin Castro to a 7-year extension worth $60 million.
Starlin Castro has agreed to a seven-year, $60 million contract extension with the Chicago Cubs, a source close to the star shortstop told ESPNdeportesLosAngeles.com.
The contract covers four years of arbitration eligibility and three years of free agency, and includes a $16 million option for 2020. Castro, 22, was projected to qualify for salary arbitration as a "Super Two" player at the end of the year.
More to come, but this is in line with what we expected based on comparable players.
UPDATE: There's an 8th year option for $16 million, which could bring the total value of the contract up to $76 million over 8 years. Over the last few days we found that Castro's projected value made him worth about $58 million over 6 years while comparable players was under $10 million per year. The average annual value of this 7-year contract is $8.57 million.
I added this bit in the post the other day:
We shouldn't see a contract extension for Castro equal those two either. It should be closer to Jose Reyes' extension with a couple more years added on and a small increase in inflation. Say something like 6 years and $48 million. That's below the other two contracts and more overall money than Reyes got, but probably somewhat similar in reality. Castro is similar to Reyes in terms of performance and not at all similar to Hanley and Tulo. So why pay him like he's one of those two?
This is a fine contract for the Cubs. They got the 7th year here, which is a bit surprising and they paid a bit more for it, but overall this is a very good contract for the Cubs.
UPDATE 2: Theo Epstein says that no extension has been finalized.
Theo says nothing finalized on Castro contract. Beyond that no comment.
— Doug Padilla (@ESPNChiCubs) August 18, 2012
A deal is done. No it isn't. We've seen this before.
UPDATE 3: Jon Heyman says on twitter that a $1 million buyout is part of the $60 million.
the 8th year option on castro deal will be $16M. buyout will be $1M (the $1M counts toward the $60M guarantee).
#cubs— Jon Heyman (@JonHeymanCBS) August 18, 2012
I enjoyed watching the Cubs tag Chapman for a run (he hadn’t allowed a run in 22 innings). Brenly was very angry at Welington for not running on his hit (he should have made it to second).
Trib reporting the deal is not yet done (with quotes from agent Kinzer).
@ Mobile Rodrigo:
Theo says the same thing (post updated).
It’s becoming common to have a deal reported as done and then later it’s not done.
The deal must be pending Dempster’s approval, but he’s entirely to blindsided by passport issues.
I’m not sure which is worse, the days with no Cubs games or the days with two.
AndCounting wrote:
The days with two. Easily.
Castro now has 20 steals. Unfortunately, it took him 30 tries.
Congrats to Brett Jackson on his first MLB home run.
Here’s Brett’s jack: http://mlb.mlb.com/video/play.jsp?content_id=24006687&c_id=chc&partnerId=aw-6776060616802858245-1023
@ Rizzo the Rat:
B-Jacks jack
@ mb21:
It got B-Jacked.
Aw! A double header? Man, I’ve been slacking big time on my Cubs involvement.
@ josh:
You’ve been missing out on so much!
Actually, I think I’d rather follow the Astros. They at least have comedy value: http://mlb.mlb.com/video/play.jsp?content_id=23688849&source=MLB&gid=2012_08_06_wasmlb_houmlb_1
Valbuena driving in Cardenas pretty much sums up the rebuilding process.
@ AndCounting:
(insert slogan here)
Looks like the Cubs did well, if it indeed goes through
Carl Crawford ———-> Tommy John surgery next week (maybe)
/grindsaxe
@ mb21:
Heyman and CBS are still reporting the deal is done…not that Heyman is all that reliable.
@ Berselius:
His numbers haven’t been so bad. He’s flashed more power than usual, but his walk rate is horrible.
Would suggesting that a certain soon-to-be-extended someone’s next hit in the game could produce a Natural Cycle jinx it?
@ Berselius:
I can’t hear a Carl Crawford health rumor without thinking of you.
You can tell that the extension isn’t final yet from Castro’s performance. Once that money is in the bank he’ll be taking siestas in the batters box
Anthony Rizzo ————> Sean Marshall’s bitch
@ AndCounting:
I’m not sure I can hear his name without thinking about how much fun Berselius is having.
I see Joe Mather got a haircut. And none of you reported it.
I guess I’m just disappointed in you all above everything else.
@ AndCounting:
“Watch Valbuena drive in Cardenas. Cause it’s all bullshit anyway.” CUBS 2013!
Why can’t the Cubs ever have a reliever like Marshall?
@ Rizzo the Rat:
The Cubs aren’t allowed to have nice things.
@ Rice in limbo: Slogan
Aramis leads the league in extra-base hits. The Cubs’ third basemen can’t compete offensively, of course, but I’m sure they more than make up for it with defense and hustle.
@ Rizzo the Rat:
True enough, but for what Aramis wanted, and for what the Cubs are… I think they made the right call.
@ josh:
Oh, I definitely wouldn’t argue that the Cubs should have re-signed him. But watching Cubs third-basemen go .211/.288/.348 while Aramis continues doing Aramis things makes one appreciate him more (or at least it should).
@ Rizzo the Rat:
Most Cubs fans don’t know what they had until it’s gone, and even then they don’t know it.
I’m not a religious man at all (AT ALL), but everytime I listen to the WGN radio intro and hear Harry say “What a lucky break! The Good Lord wants the Cubs to win!” I get that I’m-getting-struck-by-lightening feeling in my gut.
@ Rizzo the Rat:
I think most people here knew what we had. But yeah, point taken. A lot of fans dogged him that shouldn’t have.
Brad Mills —> fired
SHOCKING.
New Comic: http://www.obstructedview.net/comics/ritual.html