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Longoria Signs Record Breaking Contract

Christopher Solberg, Editor
4/18/2008

Evan Longoria has been in the majors for six games, for a total of 20 at-bats.  But now he has a long-term contract.  This unprecedented move has opened the eyes of many.  The nine-year contract will possibly pay Longoria $44 over the life of the agreement.  The first six years are guaranteed, garnishing a total of $17.5 million.  There is also a one-year extension, followed by a two-year extension that, if both are picked up, give him an additional $26.5 million. 

The exact breakdown for each year hasn’t been given, but it looks like Longoria has given up probable higher arbitration-related salaries and his three first agency years for more money upfront and some fiscal stability.  The Rays, on the other hand, will save money during the arbitration years and have him very cheap for his first three free agency years if he blossoms into the star that everyone says he will be.  Also, locking up a player through his arbitration years helps to curb any strife that takes place between a player and a team during the arbitration process.

I’m not sure if a player has ever been signed to a long-term contract so early in his career, especially to a nine-year deal.  This is somewhat astonishing.

But if you really break it down, PECOTA values him at over $100 million during his first seven years in the majors.  Then if you consider the other contracts throughout baseball, it’s hard to belittle the Rays for doing this.  Over the first six years of his contract, Evan will be earning an average of $2.92 million, there are many players out there that he will be out-producing for that amount.  Jason Giambi will be making more this season than the first six years of Longoria’s contract, but it’s possible that Evan will out produce him.

It was a good move by Friedman, but what GM will try this with a less promising player and get bit?

 

 

 

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