From the Plain Dealer:
Now that the revised terms of Johan Santana’s contract with the New York Mets have come out, the numbers aren’t as bad as previously thought in terms of keeping C.C. Sabathia in Cleveland. Still, they represent a challenge for the Indians.
The present-day value of Santana’s six-year contract, as first reported by FoxSports.com, is $123.1 million as opposed to $137.5 million. The change is because of deferred money.
In those terms, the average annual value of Santana’s deal drops from nearly $23 million to $20.5 million. It reduces the gap between Santana and Sabathia, regarding the five-year offer, including a four-year extension, the Indians made to Sabathia at the end of December.
The four-year extension is believed to be worth $17 million to $18 million a year. The offer includes 2008, the last year of Sabathia’s current deal, in which he’ll make $11.25 million. When the Indians have extended existing contracts in the past, they’ve almost always sweetened the final years of the original deal. It’s not known what kind of raise the Indians offered Sabathia for 2008, but the Mets bumped Santana’s 2008 salary – the last year of his deal with the Twins – to $19 million from $13.25 million.
So basically, the contract extension offerred to C.C. is a 3-year deal that runs through 2011, (the fourth year is the 2008 season) without a definitive increase of salary in 2008. To truly compete in the Sabathia Sweepstakes (which, believe it or not, have already started), the Indians will have to offer something better than this current extension. Maybe another year and a few more million in 2008 would seal the deal for C.C.’s services.
I’m sure the Yankees would have no problem offering 4 years at $18 million per year once Sabathia’s free agency status rolls around (after the completion of the 2008 season).
(Thanks to MLBTR).










