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Monday, October 31, 2011

CC Sabathia Agrees to Contract Extension With Yankees

NESN ~ snork.

CC Sabathia isn’t going anywhere after all, not even to test the free-agent waters.

The Yankees ace announced personally Monday that he has agreed to a contract extension with the Yankees, and he will remain in New York. The terms of the deal are unknown at this point.

Many thought that Sabathia would at least excercise the opt-out clause he had in his contract that would let the big left-hander become a free agent this winter. Sabathia was set to make $92 million over the final four years of the seven-year contract he signed in 2008.

Repoz Posted: October 31, 2011 at 11:42 PM | 43 comment(s) Login to Bookmark
  Tags: business, media, yankees

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   1. Mike Emeigh Posted: October 31, 2011 at 11:47 PM (#3983825)
Per Buster Olney, Sabathia will make the same $92 million that was in the original contract, then $25 million in 2016 and a vesting option for $25 million in 2017 with a $5 million buyout. The 2017 option vests as long as Sabathia does not suffer a major shoulder injury.

Olney reports that there are still some language kinks to be ironed out.

-- MWE
   2. zonk Posted: October 31, 2011 at 11:50 PM (#3983831)
But we had only just started the sturm und drang!

What a rip-off.
   3. PreservedFish Posted: October 31, 2011 at 11:52 PM (#3983833)
The 2017 option vests as long as Sabathia does not suffer a major shoulder injury.


Major elbow injury, no problem?
   4. Austin Posted: October 31, 2011 at 11:55 PM (#3983834)
Holy cow. That was fast.
   5. Accent Shallow Posted: October 31, 2011 at 11:55 PM (#3983835)
The 2017 option vests as long as Sabathia does not suffer a major shoulder injury.



Major elbow injury, no problem?


Well . . . the success rate for Tommy John is what, 85%? What's the success rate for shoulder surgery?
   6. Tripon Posted: October 31, 2011 at 11:56 PM (#3983836)
Yes, I was right in the end!
   7. You Know Nothing JT Snow (YR) Posted: October 31, 2011 at 11:58 PM (#3983838)
See, the Yankees take care of their players! C'mon Soriano, opt out!
   8. Matt Clement of Alexandria Posted: November 01, 2011 at 12:03 AM (#3983840)
Oh for ####'s sake. CC could have easily gotten a better deal from several clubs. I hate it when the Yankees catch a break like this.
   9. Avoid running at all times.-S. Paige Posted: November 01, 2011 at 12:05 AM (#3983841)
The more interesting question is what are the ethical implications of CC not opting out?

Edit: It also turns out that the inclusion of the opt out clause was a good move by Cashman. They get a hometown discount in the second part of his deal because he was comfortable and liked New York.
   10. Ephus Posted: November 01, 2011 at 12:07 AM (#3983842)
Good deal for both sides. Yankees add one extra year for $30 million (or two years at $50 million, at their option).
   11. RB in NYC (Now Semi-Retired from BBTF) Posted: November 01, 2011 at 12:07 AM (#3983844)
Oh for ####'s sake. CC could have easily gotten a better deal from several clubs.
I, on the other hand, am very pleased. I don't know how much than a guaranteed 122/5 CC would have gotten, but I bet he could've gotten six years at least.
   12. Matt Clement of Alexandria Posted: November 01, 2011 at 12:09 AM (#3983845)
Good deal for both sides.
CC by all accounts loves New York and should be quite happy over the next five years. But there's no question he could have gotten more money than this, and from the Yankees, if he'd wanted to push for it.
It also turns out that the inclusion of the opt out clause was a good move by Cashman. They get a hometown discount in the second part of his deal because he was comfortable and liked New York.
This is a below-market contract, but 4/92 is surely a better contract for the club than 5/122, right? CC got some value from the opt-out clause.
   13. Monty Posted: November 01, 2011 at 12:12 AM (#3983846)
That's no fun!
   14. McCoy Posted: November 01, 2011 at 12:13 AM (#3983848)
I just hope the Aramis deal happens as fast.
   15. Pleasant Nate (Upgraded from 'Nate') Posted: November 01, 2011 at 12:13 AM (#3983849)
CC should fire his agent.
   16. AROM Posted: November 01, 2011 at 12:16 AM (#3983850)
Seems like a man true to his word that he liked NY and wanted to stay. With the opt out clause and his continued excellent performance, he had to get something. But wrapped things up quickly as opposed to dragging things out and making it seem he's on the verge of going to Boston or Chicago or somewhere.
   17. Tom Cervo, backup catcher Posted: November 01, 2011 at 12:22 AM (#3983858)
CC should fire his agent.


Why? It sounds like CC was the one pushing for this.

Buster_ESPN Buster Olney
Yankees GM Brian Cashman spoke with Sabathia on the phone this morning,along with his agent;Sabathia made it clear he wanted deal completed.
   18. willcarrolldoesnotsuk Posted: November 01, 2011 at 12:33 AM (#3983872)
CC always seems like a nice guy.
   19. Best Regards, President of Comfort, Esq. Posted: November 01, 2011 at 12:39 AM (#3983876)
CC always seems like a nice guy.
Most fat guys are jolly.

Not me. But most others.
   20. The John Wetland Memorial Death (CoB) Posted: November 01, 2011 at 12:44 AM (#3983879)
Buster_ESPN Buster Olney
Yankees GM Brian Cashman spoke with Sabathia on the phone this morning,along with his agent;Sabathia made it clear he wanted deal completed.


But! But! pedrobubzuvaselig told me just this morning that C.C. was a jerk!, JERK!!! for opting out.

Snark aside, this is ####### fantastic news.

Now, the Yankees should lock down the Hurling Darvish, do a few fine tuning adjustments around the margins and call it an offseason ...
   21. Pleasant Nate (Upgraded from 'Nate') Posted: November 01, 2011 at 12:44 AM (#3983880)
Why? It sounds like CC was the one pushing for this.


Because he could have had the same result and more money. Part of an agent's job is to advise his client.
   22. Tripon Posted: November 01, 2011 at 12:51 AM (#3983884)

Because he could have had the same result and more money. Part of an agent's job is to advise his client.


I think we're getting to the point where having an agent is superfluous. C.C. could have the same money by firing his agent and having a lawyer negotiate the details for a fee.
   23. The John Wetland Memorial Death (CoB) Posted: November 01, 2011 at 12:52 AM (#3983885)
Because he could have had the same result and more money. Part of an agent's job is to advise his client.


Last time I checked, an agent was still an employee of his "client", right? If C.C. said, "I'm going to opt out because I want to add more years/more money, but I LOVE NY and want to stay here, get me a honest deal and get this done quick" (which, from what we can see from the outside doesn't seem too far from the mark) then this seems like a fair deal all around, no?
   24. AROM Posted: November 01, 2011 at 12:59 AM (#3983888)
From MLB trade rumors:

"The option automatically vests unless Sabathia finishes the 2016 season on the DL with a left shoulder injury, spends 45 days on the DL with a left shoulder injury, or makes at least six relief appearances in 2016 due to shoulder problems, according to Joel Sherman of the New York Post (all Twitter links)."

That last situation seems a little weird. If I'm C.C., once I've made 5 relief appearances on a bad shoulder no way I come in for a 6th. Though I suppose once I refuse they'd put me on the DL and void the option that way.
   25. snapper (history's 42nd greatest monster) Posted: November 01, 2011 at 01:12 AM (#3983894)
From MLB trade rumors:

"The option automatically vests unless Sabathia finishes the 2016 season on the DL with a left shoulder injury, spends 45 days on the DL with a left shoulder injury, or makes at least six relief appearances in 2016 due to shoulder problems, according to Joel Sherman of the New York Post (all Twitter links)."

That last situation seems a little weird. If I'm C.C., once I've made 5 relief appearances on a bad shoulder no way I come in for a 6th. Though I suppose once I refuse they'd put me on the DL and void the option that way.


I think in that case (shoulder bad enough CC can't start but can relieve) the 6 relief appearances clause actually could work in CC's favor. w/o that clause, no way the Yankees let him relieve, they just keeping pushing him into the rotation until he has to go on the DL. With the clause, the Yankees may use him as a closer, and let him build value for the next season.
   26. McCoy Posted: November 01, 2011 at 01:12 AM (#3983895)
Geez, agents are evil if they get more for their clients. Their evil if they don't get more for their clients and now they are evil if they give their clients what they want. So what have learned? That posters on BTF will look for any reason at all to bash agents.
   27. Fred Lynn Nolan Ryan Sweeney Agonistes Posted: November 01, 2011 at 01:16 AM (#3983900)
So, agents are like criminal defense lawyers. Huh.
   28. Tom Cervo, backup catcher Posted: November 01, 2011 at 01:16 AM (#3983901)
Because he could have had the same result and more money. Part of an agent's job is to advise his client.


And what evidence do you have that he didn't advise his client? Maybe CC wanted to avoid opting out and/or just didn't want to deal with being a FA again. Ultimately it's CC's decision, and hard to fault his agent when he has the highest AAV of any pitcher while pitching in a place he apparently loves.
   29. snapper (history's 42nd greatest monster) Posted: November 01, 2011 at 01:25 AM (#3983904)
And what evidence do you have that he didn't advise his client? Maybe CC wanted to avoid opting out and/or just didn't want to deal with being a FA again. Ultimately it's CC's decision, and hard to fault his agent when he has the highest AAV of any pitcher while pitching in a place he apparently loves.

Not to mention, staying with a perennial contender, and maximizing his chances at WS rings and getting 300 wins.

If you're already set for life, like CC, those other things should matter.
   30. ??'s Biggest Fan! Posted: November 01, 2011 at 01:26 AM (#3983907)
I won't hazard a guess who won or who lost, but I do know CC just bought himself a lot goodwill in the media and with the team's fan base.
   31. Shooty Survived the Shutdown of '14! Posted: November 01, 2011 at 01:36 AM (#3983912)
I won't hazard a guess who won or who lost, but I do know CC just bought himself a lot goodwill in the media and with the team's fan base.

Zimmerman flew and CC lied!

What? CC is a good guy again? Is Zimmerman still an #######?
   32. Benji Gil Gamesh Rises Posted: November 01, 2011 at 01:56 AM (#3983919)
Why would they sign such an unethical guy to an extension?
   33. akrasian Posted: November 01, 2011 at 02:08 AM (#3983926)
I won't hazard a guess who won or who lost, but I do know CC just bought himself a lot goodwill in the media and with the team's fan base.

He probably figures this is his last big contract - maybe his last contract period. If so, and he wants to keep busy afterwards, having the goodwill of the local fans is undoubtedly worth something to him. A bit financially, if he wants to do endorsements - but also just nice from the perspective of his ego.

And as snapper said, he's already set for life anyway. And this gets him $30 million to $50 million more.
   34. Steve Balboni's Personal Trainer Posted: November 01, 2011 at 02:08 AM (#3983927)
With CC off the market, teams looking for a starting pitcher are REALLY looking sorting through some bare cupboards. The Elias rankings today:

Type A starting pitchers: CJ Wilson, Roy Oswalt
Type B: Mark Buehrle, Bruce Chen (!), Hiroki Kuroda, Edwin Jackson, Freddie Garcia, Jon Rauch, Aaron Harang.

It seems to me that Buehrle and Kuroda are the two best potential values in this limited group, but Kuroda probably doesn't want to leave LA.

Closers, on the other hand, are incredibly plentiful this off-season...
   35. valuearbitrageur Posted: November 01, 2011 at 02:42 AM (#3983944)
Edit: It also turns out that the inclusion of the opt out clause was a good move by Cashman. They get a hometown discount in the second part of his deal because he was comfortable and liked New York.


Yes, the opt out clause only cost the Yankees a commitment of a minimum of $30m for CC's age 35 season, or $50M for his age 35 and 36 seasons, with the Yankees assuming all risk of decline and almost all injury risk for the intermediate 5 years. What a hometown discount!

Getting CC on a 1 year $25M deal for next year with a $25M option year would be a nice coup, but not when you post-date it 5 years.

Imagine CC hadn't opted out, but instead announced he would leave the Yankees after he completed his existing contract and had already signed a 1 year contract for 2016 to play for the Cubs for $25M, with a $25M option year for 2017 with the same $5M buyout. Theo Epstein would be getting loudly and rightly ridiculed for signing a CC to a deal so far away that he can't be sure CC will still be in baseball at the time.

Re-signing CC to the same deal with this extension seems like a reasonable deal, if not a home town discount, based on what CC could have fetched in the free agent market. But it's a false comparison, because CC never should have been on the free agent market and Cashman goofed hugely by putting this clause in the original contract.

We don't really have to repeat this do we? Offering players an opt out only benefits the players, if the team ends up benefiting it's purely from happenstance.

There is little doubt Cashman could have closed the original deal with CC without the option by moderately increasing the Yankees offer. That cost is likely far less than the true cost of the option, which was timed to give CC the ability to go back out during his peak years and max his career earnings while still have the security of a long term deal in case he was horribly injured in 2010 or 2011.
   36. snapper (history's 42nd greatest monster) Posted: November 01, 2011 at 02:47 AM (#3983953)
But it's a false comparison, because CC never should have been on the free agent market and Cashman goofed hugely by putting this clause in the original contract.

It really can't be viewed as a "huge" goof. It's just not that much money, and it certainly saved them something off the original contract.

There is little doubt Cashman could have closed the original deal with CC without the option by moderately increasing the Yankees offer. That cost is likely far less than the true cost of the option, which was timed to give CC the ability to go back out during his peak years and max his career earnings while still have the security of a long term deal in case he was horribly injured in 2010 or 2011.

How do you know that? How do you know what CC was demanding?
   37. AROM Posted: November 01, 2011 at 02:53 AM (#3983956)
"I think in that case (shoulder bad enough CC can't start but can relieve) the 6 relief appearances clause actually could work in CC's favor. w/o that clause, no way the Yankees let him relieve, they just keeping pushing him into the rotation until he has to go on the DL. With the clause, the Yankees may use him as a closer, and let him build value for the next season."

Maybe, but no way he closes. Rivera will only be 46 that year.
   38. snapper (history's 42nd greatest monster) Posted: November 01, 2011 at 02:57 AM (#3983960)

Maybe, but no way he closes. Rivera will only be 46 that year.


Hah!
   39. bobm Posted: November 01, 2011 at 03:41 AM (#3984001)
[35]

Re-signing CC to the same deal with this extension seems like a reasonable deal, if not a home town discount, based on what CC could have fetched in the free agent market. But it's a false comparison, because CC never should have been on the free agent market and Cashman goofed hugely by putting this clause in the original contract.

We don't really have to repeat this do we? Offering players an opt out only benefits the players, if the team ends up benefiting it's purely from happenstance.

There is little doubt Cashman could have closed the original deal with CC without the option by moderately increasing the Yankees offer.


Maybe CC signed with the Yankees originally because of the option, that is, not its economic value but rather it was a signal by Cashman that the Yankees were confident that CC would enjoy the Yankees/East Coast/AL/whatever despite his rumored doubts.

Offering Cliff Lee the most money didn't work for the Yankees, because of non-economic factors. Sometimes things other than dollars matter to people who already have lots of dollars.
   40. Mayor Blomberg Posted: November 01, 2011 at 04:34 AM (#3984038)
I basically agree with bobm's statement of what we don't know and what may have been CC's thinking. But he argument of "adding a little more" means what? 2M/yr for the contract? then they signed CC for an extra year for $16 and don't pay luxury tax on $2M for each of those 7 years.

Any comparison of this contract to Theo signing CC to a contract not to begin until 2016 has to be the stupidest thing I read today, and I've been grading papers.
   41. Non-Youkilidian Geometry Posted: November 01, 2011 at 04:40 AM (#3984041)
We don't really have to repeat this do we? Offering players an opt out only benefits the players, if the team ends up benefiting it's purely from happenstance.

Of course they benefit the player rather than the team. That's their whole point. That's what happens in a negotiation: people agree to things that benefit the other party in order to get the other party's agreement. Cashman obviously understood that this term shifted risk to the Yankees, but it was a price he was willing to pay to acquire Sabathia's services these past years. It was no more a "huge goof" by Cashman than any of the other parts of the contract that were intended to benefit Sabathia, such as the part that required the Yankees to pay him millions of dollars over the CBA minimum.

Why you assume that Sabathia would have bargained this term away for something far below its true value? And why criticize Cashman after his gamble paid off and Sabathia didn't get horrilbly injured?
   42. Don Lock Posted: November 01, 2011 at 02:08 PM (#3984129)
CC stated that another factor was that New York has the most Dunkin Donuts outlets of any major metropolitan area.
   43. The Original SJ Posted: November 01, 2011 at 02:22 PM (#3984137)
But it's a false comparison, because CC never should have been on the free agent market and Cashman goofed hugely by putting this clause in the original contract.


This assumes he would have signed a contract without an opt out clause. From everything which has been said, it appears the opt out clause was what put the contract over the top.

Cashman did fine. Just fine.

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