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« Will Marlins Trade Hermida? | Main | Mariners Rumors: Johjima, Washburn, Ibanez »
Rockies' Hampton Buyout Prefunded
Gerry Fraley wrote about Mike Hampton in the Rocky Mountain News a few weeks ago. One notable statement:
"The Rockies will be free of a financial obligation once they pay the $6 million buyout on his option for 2009 - a sum that was prefunded so it won't impact Rockies finances."
In my Rockies Offseason Outlook, the $6MM was included when I said the team had $77.6MM committed before arbitration raises.
Since the buyout won't impact finances, the Rox actually have about $71.6MM committed before possible arbitration raises to Clint Barmes, Garrett Atkins, Willy Taveras, Jorge de la Rosa, Jason Grilli, and Cory Sullivan. So figure the Rockies will come in a bit under $80MM to keep their current players (aside from free agents).
Even going from this year's $68.6MM to $80MM in '09 would be a 16.6% increase in payroll. To add players, they'll have to go even higher or perhaps trade Atkins. The Rockies drew over 2.65MM fans this year, up from last year's 2.38MM.
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It's nice to see a team that isn't a financial powerhouse like the Rockies do something smart like prefunding Hampton's buyout. The Phillies are another team that really keep their finances in check and don't play loose with the budget, though they clearly have more money to spend than most teams do. I'm sure their fans don't appreciate that much but it's nice to see some kind of fiscal restraint in MLB.
Posted by: pageian | September 24, 2008 at 11:41 AM
one of the lulziest contracts ever.
Posted by: baleen | September 24, 2008 at 01:28 PM
That contract was another lifetime ago. Neagle was the other brilliant, long term, Colorado signing back then. Not as long or as much as Hampton though. A couple more years and the Zito deal will feel like a lifetime as well.
Posted by: studio179 | September 25, 2008 at 08:30 AM