Brian Cashman made sure no one had a chance to tempt CC Sabathia to leave New York, re-signing his ace through 2016, with a team option for 2017.
CC Sabathia decided to stay with the New York Yankees rather than test the free-agent market, agreeing Monday to a new deal that adds $30 million to his existing contract and will pay $122 million over the next five years.
The 31-year-old left-hander had until midnight to opt out of his current agreement, which had $92 million remaining over the next four years in $23 million annual salaries.
The new deal adds a $25 million salary for 2016 and gives the Yankees a $25 million option for 2017 with a $5 million buyout, a person familiar with the agreement told The Associated Press. The person spoke on condition of anonymity because the Yankees had not yet announced the deal.
The option becomes guaranteed if Sabathia does not end the 2016 season on the disabled list because of a left shoulder injury, does not spend more than 45 days of 2016 on the DL with a left shoulder injury or does not make six or more relief appearances in 2016 because of shoulder issues.
In 2017 the Yankees could owe A-Rod and CC a combined $45,000,000. Yes, six years from now (6!) the Yankees will owe these two elderly gentleman more money than the entire Rays 2011 payroll. This makes me giddy.
Wisely, the Yankees have a $5,000,000 buyout should CC breakdown in 2016. More importantly, what are the odds that he doesn't breakdown by 2014? But the Yankees had no choice but to re-sign him. And, let's be honest, if he does fall apart and they're paying him to sit at home and eat cheetos, I don't think it'll hurt their bottom line too much.
The good news in all of this is that CC is now off the market, so we don't have to worry about Henry doing something stupid and chasing the shiny object (well, at least where CC is concerned).
Congrats today, Yankees. Your good, but overpaid pitcher is now even more overpaid. Also, you've re-signed Cano for $14 million for next season and you've decided to pay Nick Swisher $10.5 million dollars next year to act like an idiot in right field for 2012.
What do you call it when the Yankees allocate $50 million to three players? Give up? Monday!