The Giants just trumped everyone, pulling a Hicks/Arod move and outbidding everyone by a wide margin apparently. Zito has agreed to a deal with the Giants for seven years on Wednesday evening. It’s a 7 year deal for $126 million with an option eighth. Largest contract ever for a pitcher, that’s for sure. According to the story:
Zito’s agreement, reached late Wednesday night, includes an $18 million option for 2014 with a $7 million buyout that could increase the value to $137 million. The option would become guaranteed if Zito pitches 200 innings in 2013, 400 combined over 2012 and 2013 or 600 combined from 2011-13.
Well, at least he won’t be pitching in Arlington anymore with that 11-1 record, unless it’s in the playoffs or interleague anymore. That part is good.
It’s also good that this money is not spent, so it could be used for Mike Young and Mark Teixeira. I expect it will take those kinds of numbers to resign Teixeira, especially with Boor-Ass as his agent. I know the Rangers have said that signing Zito wouldn’t have stopped them, but you have to think re-signing them has been made easier with that money not being paid to Zito on payroll day.
This all makes the deals signed by Padilla & Millwood look like a bargain, eh? :)