Matt Holliday Signs With Cardinals
Matt Holliday has officially signed what will surely be the biggest contract of the 2009-10 offseason. It's a seven-year, $120MM deal with a full no-trade clause. Holliday's vesting option for 2017 would be worth $17MM if he finishes in the top-10 in MVP voting in 2016; if the option doesn't vest, the Cards will owe Holliday a $1MM buyout.
ESPN's Buster Olney wrote Monday that the two sides were close to a possible seven-year deal and SI.com's Jon Heyman first reported that the Cardinals and Holliday had agreed to a deal. Heyman (via Twitter) and Matthew Leach of MLB.com delivered the specifics later.
Holliday, who will keep getting paid under this contract until he's 49, will be 36 in the last guaranteed year of the deal. By comparison, Jason Bay will be 34 in the last year of his deal, one that guarantees him $54MM less than the one Holliday signed.
Holliday falls short of the $18MM average salary he reportedly sought, but this contract is a huge win for Boras given the lack of competition. Click here to check out others' reactions to the deal.
Ben Nicholson-Smith contributed to this post.
Rosenthal On Bell, Tejada, Holliday, Ankiel
The latest from Ken Rosenthal of FOX Sports…
- Three or four teams are interested in Padres closer Heath Bell, but the team isn't really looking to move him. Rosenthal sees Bell getting just $3-4MM in his second arbitration year; that seems light to me.
- Rosenthal reminds us that the Rockies are eyeing Robb Quinlan and Fernando Tatis as bench candidates. He wonders, though, if the Rockies, Cardinals, A's, and Cubs could find starting infielders at bargain prices as the offseason wears on. Rosenthal says Miguel Tejada is looking for two years and $16MM; I can't think of a team that would come close to that.
- The Cardinals believed Scott Boras might've taken Matt Holliday elsewhere on a one-year deal, though a rival executive believes that was unlikely.
- The Pirates' interest in Rick Ankiel is obvious – Frank Coonelly has said as much in multiple chats with fans. A couple of Rosenthal sources were divided on the Bucs' chances of signing Ankiel, who would play right field for them. The only other known suitor is the Royals.
Odds & Ends: Epstein, Cards, Contracts, Greene
Links for a snowy Thursday…
- MLB.com's Lyle Spencer tweets of the Dodgers' interest in Robb Quinlan for a fourth outfielder role. The Rockies and Twins are other known suitors.
- Red Sox GM Theo Epstein appeared on the Toucher and Rich show this morning. He spoke about the team's offense, Adrian Gonzalez, Mike Lowell, and the "bridge period" comment; MLB.com's Ian Browne provides the transcript.
- MASN's Steve Melewski says the Red Sox rescinded the contract given to reliever Bob McCrory after he failed his physical.
- Tommy Rancel of DRays Bay looks at the team-friendly deals signed by Paul Cohen clients.
- Cardinals manager Tony La Russa told Cam Inman of The Contra Costa Times there's a non-zero chance the team adds Mark McGwire to the player roster on August 31st.
- There is currently no timetable for the Cardinals to sit down with Albert Pujols' agents, GM John Mozeliak told Joe Strauss of the St. Louis Post-Dispatch. The Cards are ready to talk when Pujols is.
- Maury Brown of The Biz of Baseball is beta-testing an MLB salary database. Also of note: Cot's Baseball Contracts has joined the Baseball Prospectus family.
- ESPN's Buster Olney wrote yesterday that Khalil Greene is working hard and seeks a big league deal. Greene can play shortstop or third base, and Olney sees Oakland as a potential match.
- The Pirates aren't far apart with Zach Duke on his 2010 salary, writes Dejan Kovacevic of the Pittsburgh Post-Gazette. Kovacevic believes Duke's $2.2MM salary could double in his second arbitration year. A multiyear deal is not in the works.
- Murray Chass chronicles the blank contract Andre Dawson gave to the Cubs in the spring of '87.
- Joe Pawlikowski of River Ave. Blues looks at Nick Johnson's injury history in detail.
- A December 30th tweet from SI's Melissa Segura notes that Dominican lefty Victor Payano signed with the Rangers. Payano had a deal with the Red Sox in July for $900K that was voided due to shoulder concerns. Here's a video of the 16-year-old courtesy of Kiley McDaniel.
GM Trade Histories: NL Central
Brendan Bianowicz continues to update the GM Trade History series, covering the NL Central today. Click below to download Excel spreadsheets chronicling trades, free agent signings, and top draft picks for each GM.
Cardinals Will Be Paying Holliday Through 2029
As part of his new seven year, $120MM contract, Matt Holliday will be collecting paychecks from the Cardinals through 2029 according to the AP (via SI.com). As you know, the contract calls for a $17MM annual salary through 2016 with an option for 2017, however $2MM is deferred without interest each season. Depending on whether or not the option is picked up/vests, Holliday will be paid either $1.4MM or $1.6MM on July 15th every year from 2020 to 2029.
Just for some perspective, Holliday will be 49-years-old on July 15th, 2029.
Matt Holliday Signing Reactions
Yesterday Matt Holliday and the Cardinals agreed to a seven-year, $120MM deal, possibly worth $136MM over eight years if Holliday finishes in the top ten in the MVP voting in 2016 (he'll head into that season as a 36-year-old). $2MM deferred per year knocks down the present-day value of the deal a bit. Let's take a look at reactions from around the web.
- ESPN's Buster Olney spoke to one GM who thinks the Cardinals overpaid by about $30MM given the lack of competition for Holliday. Another exec's crack: "I guess that will end the collusion talk." Olney also wonders if the Cardinals can afford to pay Holliday and Albert Pujols $43-47MM from 2012 forward. Ken Rosenthal of FOX Sports has the same concerns.
- ESPN's Keith Law suggests the Cardinals are the NL Central frontrunners for 2010 and 2011. But the downside to having both Holliday and Pujols locked up for big bucks is that the Cards would need to fill out the rest of the roster with bargains. They might not have the farm system to do so.
- Aaron Schafer of Viva El Birdos offers his take: "the money's fine, but the length of the deal is a killer."
Heyman On Damon, Tejada, Pineiro, Molina
The latest from SI's Jon Heyman…
- Heyman believes the Yankees would not go beyond one year and $6MM to re-sign Johnny Damon. On MLB Home Plate Boras said Damon "would just have to move forward," while not faulting the Yankees for sticking to a budget. Heyman suggests four alternatives for Damon: the Giants, Mariners, Braves, and Angels. The Angels would be a tough fit barring a Juan Rivera trade, as their outfield and DH spots are full. The problem with the Braves is that they're approaching their payroll limit.
- Despite a report that the Cardinals probably can't afford Miguel Tejada, Heyman sees them as the best fit. Heyman's $8MM idea seems too pricey though.
- The Mets debated offering Joel Pineiro a two-year, $15MM Jason Marquis special, but at this point Pineiro seems to be seeking Randy Wolf's three-year, $29.75MM deal. MetsBlog's Matthew Cerrone sees the team landing Jon Garland instead.
- Heymans says the Mets "seem serious about sticking with an offer of one year and a vesting option" for Bengie Molina. However, Cerrone "gets the feeling the Mets might have a two-year deal on the table."
What’s Next For The Cardinals?
The Cardinals committed $120MM over seven years to Matt Holliday yesterday; he'll be paid $17MM in each year of the deal (with $2MM deferred annually). Derrick Goold of the St. Louis Post-Dispatch says the contract "leaves the club with little financial space to address the No. 5 starter, the opening at third base and the wish to add a reliever."
Miguel Tejada and Felipe Lopez are known third base targets for the Cardinals, but Goold says either player would be difficult to fit into the budget based on current demands. Goold's colleague Joe Strauss says Tejada and Lopez are probably out "unless their market collapses." Goold expects David Freese to get a crack at the hot corner, with internal candidates filling the fifth starter role as well. The CHONE projection system has Freese hitting .269/.335/.442 in 2010, which wouldn't be any worse than Tejada and Lopez's projections.
The Cards could add an affordable left-handed bench bat via free agency, and Goold says Ryan Church is one name on the radar. As for the bullpen, Goold speculates on Octavio Dotel and notes that a Russ Springer reunion has been discussed. The Cardinals' offseason financial flexibility will hinge on the arbitration cases of Ryan Ludwick and Skip Schumaker. Goold wouldn't be surprised to see March bargains or midseason additions if the Cardinals stay quiet over the next few months.
Matt Holliday, Cardinals Could Agree This Week
10:06pm: Cardinals' manager Tony La Russa says that any deal should be finalized this week, according to Joe Strauss of the St. Louis Post-Dispatch. The piece offers plenty of detail about this past weekend's negotiations, which have left the Cardinals with "a sense of optimism" regarding Holliday.
5:30pm: Sources tell ESPN.com's Buster Olney that the Cardinals and Holliday "are close to a deal."
12:35pm: It's been suggested that the Cardinals have offered multiple contract scenarios to Holliday. One might have been seven years and $112MM, according to SI's Jon Heyman. Also, Heyman talked to one source who believes the Orioles are "laying in the weeds" despite recent denials.
Meanwhile, Bernie Miklasz of the St. Louis Post-Dispatch offers his take, in which he notes that silence from Cards GM John Mozeliak might be a positive sign.
8:30am: A Friday tweet by Cardinals manager Tony La Russa had some fans wondering if a Matt Holliday signing was imminent, but Derrick Goold of the St. Louis Post-Dispatch contacted La Russa to get an explanation exceeding 140 characters. La Russa explained to Goold:
"We're getting ready to move. I know they’ve been talking a lot with Matt. I know we have a really smart Plan B…(It) could be on Plan A, or it could be our Plan B. The point is, we're not going to get stuck."
La Russa told Goold he was not referring specifically to Holliday with his "Soon the Cards will be smart too" tweet. However, Goold did learn from one source that there could be a Holliday resolution this week. Goold speculated that of the various packages offered to the slugger, six or seven years with a guarantee over $100MM might do the trick. Tracy Ringolsby of FOX Sports suggested on Wednesday that Holliday aims to top the $18MM average annual salary he passed up from the Rockies in '08. It will be interesting to see how high the Cardinals are willing to go given the lack of a clear second suitor for Holliday.
Rosenthal On Holliday, Sheets, Valverde
Ken Rosenthal of FOX Sports has a new column up in which he predicts destinations for ten of the top remaining free agents. A few worth noting:
- Rosenthal guesses the Cardinals will sign Matt Holliday for around seven years and $120MM.
- Rosenthal likes the Marlins for Aroldis Chapman.
- He sees the Cubs nabbing Ben Sheets, a possibility I hadn't really considered. It's unclear how much money the Cubs have left and how much Sheets will require.
- Rosenthal expects the Tigers to sign one of the available DH types (Vladimir Guerrero, Jim Thome, Jermaine Dye, and Carlos Delgado are out there).
- Rosenthal's choice for Jose Valverde, the Tigers, makes more sense than my earlier A's prediction. Rosenthal admits that the Tigers surrendering their #19 pick would be "a significant obstacle," but one person I talked to noted that it might not be since the Tigers traditionally go over slot and could therefore get a big talent later in the draft.