3:16pm: Buster Olney with information on each year's value: "He receives $2.25 million for 2009, $3.25 million for 2010, and a $4 million option for 2011, with a $500,000 buyout. " Royals beat writer Dick Kaegel of MLB.com confirms it.
2:25pm: According to a press release from the team, the Kansas City Royals have signed Juan Cruz to a two-year deal, with a club option for a third year.
While it is Royals policy to keep contract terms under wraps, Ken Rosenthal has contract details. The first two years of the deal are worth $6MM, while the option year would pay Cruz $3.5MM if exercised.
Rosenthal also has details on the Royals' ability to complete the deal without negotiating a sign-and-trade with the Diamondbacks:
In the end, no sign-and-trade solution was necessary. The Royals preferred to lose their second rounder rather than give up prospects to the Diamondbacks. The team's first-round pick is protected because it finished with one of the 15 worst records in the majors last season.