I know I haven't done much of this lately but this seemed worthy of a post. The title should have read, Braun awarded Prince's Bounty .... or something like that!
Deal, worth $105 million, added on to pact that had five years to go
By Adam McCalvy and Tom Singer / MLB.com | 04/21/11 3:52 PM ET
MILWAUKEE -- The Brewers and outfielder Ryan Braun reached agreement on a stunning five-year, $105 million contract extension Thursday that keeps the three-time All-Star in a Milwaukee uniform through at least 2020.
The deal will be formally announced at a 4 p.m. CT Miller Park news conference.
According to a baseball source, the extension pays $105 million from 2016-20 and includes a $10 million signing bonus. Braun will earn $19 million in each season from 2016-18, $18 million in '19 and $16 million in '20, and the '21 mutual option is worth up to $20 million with a $4 million buyout. It includes a no-trade provision, and Braun agreed to defer some salary "to help keep the team competitive." The $21 million average annual value of the extension is second highest for an outfielder, after Manny Ramirez's two-year deal with Dodgers.
Braun is now guaranteed $145.5 million from this season through the end of the extension, which makes Braun and Colorado's Troy Tulowitzki the only Major League players signed through 2020. In fact, the only other players signed through '18 are Joe Mauer of the Twins and Adrian Gonzalez of the Red Sox.
Braun signed his current eight-year, $45 million contract on May 15, 2008. It was, and remains, a record contract for a player with less than one year of Major League service.
"That first deal was unprecedented, a record-breaking deal, and this new one is a commitment," said Braun's agent, Nez Balelo of CAA Sports. "We basically view it as a partnership between Ryan and the organization moving forward, that both sides were willing to commit themselves probably through Ryan's entire career.
"Obviously, the commitment on the club's part is huge. But it's also a commitment on Ryan's part, to want to stay in the city of Milwaukee and play here possibly through the end of his career."
Balelo declined to discuss details of the deferrals, but said they were key to the deal from both sides.
"Just know that we got creative," Balelo said. "It was very important for Ryan and very important to the organization that we stay competitive. Ryan wanted to be in Milwaukee the rest of his career, but he also is dedicated to winning."
The extension has been in the works for some time, Balelo said.
"One of the cornerstone pledges we made when purchasing the Brewers was to build a perennially competitive team, and Ryan Braun has already shown that he is a very rare and special talent," Brewers chairman and principal owner Mark Attanasio said in a statement. "This is an historic occasion for our franchise and for our fans, knowing that we were able to make Ryan's desire to wear a Brewers uniform for the long term a reality."
"I want to thank the entire Milwaukee Brewers organization, specifically Mark Attanasio and his entire ownership group, Doug Melvin and Gord Ash for making this possible," Braun said. "I have truly enjoyed the time I have spent in Milwaukee and look forward to spending the next 10 years here. I believe in the direction of this organization and its commitment to winning moving forward. I consider it an honor and privilege to be a part of this organization for the next 10 years. Thank you to the Milwaukee Brewers for believing in me and making this happen."
The 27-year-old Braun is one of just five players in Major League Baseball history to hit 125 homers and post a .300 batting average over the first four seasons of his career, joining Hall of Famers Joe DiMaggio, Chuck Klein and Ted Williams, and contemporary Albert Pujols.
"Ryan is an elite player and he has already reached extraordinary statistical milestones that are comparable to many of the great players in baseball history," Melvin said. "He has shown a tremendous commitment to the Milwaukee market since he arrived, and this is an exciting day for Brewers fans everywhere."
More details on the historic nature of Braun's deal:
• It marks the first time first time a player with five years left on his current contract agreed to an extension (Tulowitzki had three years plus an option remaining when he re-upped with the Rockies). It is also believed to be only the sixth time a player has signed a contract that guaranteed him 10 or more years of future salary (Dave Winfield, Derek Jeter, Alex Rodriguez, Todd Helton and Tulowitzki are the others).
• Only seven players are signed through age 36 and have spent their entire career with their original professional organization: Braun, Jeter, Jorge Posada, Mariano Rivera, Ryan Howard, Chipper Jones and Helton.
• It is one of nine contracts for a position player with a total value of at least $100 million and an average annual value of at least $20 million (Rodriguez twice, Gonzalez, Carl Crawford, Mauer, Ramirez, Mark Teixeira and Howard).
• Braun is 27, and only two other players 27 or younger signed a contract with an AAV of $20 million or more: Rodriguez in 2001 and Mauer in '11.
• It's the largest deal in Brewers history by total and AAV (Prince Fielder signed a $15.5 million deal for 2011).
• Braun's agency has done well for itself in the past year and a half. In the last 16-plus months, seven players have signed a deal with an AAV of $20 million or more, and three of those were negotiated by CAA Sports (also Howard and Roy Halladay).
