2:07pm: LEN3 has details. He says it’s $11.25MM per year for 2008-11. He’s unsure of the amount of the 2012 option, but it has a $2MM buyout. Since Nathan was set to earn just $6MM in ’07, it seems that’s been overwritten or increased.
1:19pm: MLB.com reports the deal as done. It’s a three-year extension with a club option for a fourth.
MONDAY, 8:22am: La Velle E. Neal III says only minor details remain on Nathan’s extension. They still need to figure out what to do about a no-trade clause. Buster Olney says the deal will have "significant no-trade provisions."
SATURDAY: ESPN’s Buster Olney (Insider required) reveals in his blog that the Twins have all but re-signed Joe Nathan to a four-year deal, paying $11-12MM per.
Olney considers this a surprising move for a mid-market team. It’s particularly unusual for the Twins, as they re-signed Justin Morneau earlier in the year (and Joe Mauer last year), but couldn’t hold on to Torii Hunter or Johan Santana.
Alejandro Leal writes for umpbump.com. He can be reached here.