Hours before today's arbitration hearing, the Red Sox and designated hitter David Ortiz settled at the midpoint for $14.575MM, tweets ESPN's Buster Olney. The new contract represents the largest-ever average annual value for a DH, notes WEEI's Rob Bradford. Had Ortiz and the Red Sox reached a hearing, a panel of three arbitrators would have chosen between Boston's $12.65MM submission and Ortiz's $16.5MM salary figure for 2012. Ortiz is represented by Fern Cuza of SFX.
Potentially inhibited by the cost of a draft pick, Ortiz accepted an arbitration offer from the Red Sox in December, and it took the looming threat of a hearing to force a settlement. I favored the Red Sox in a potential hearing, but they preferred not to risk a situation many regard as a crapshoot. As a bonus, they were able to avoid Ortiz having a front-row seat for their attempt to prove he's worth less than the midpoint.
Six potential arbitration hearings remain, as our tracker shows: Alexi Casilla (Twins), Casey Janssen (Blue Jays), Adam Jones (Orioles), Garrett Jones (Pirates), Casey McGehee (Pirates), and Jose Veras (Brewers).