Insanity Reigns in Baseball: Zito Gets 7yrs/$126MM

Roy O is probably kicking himself. He made a HUGE mistake signing up during the season without testing the open market. With what's happened this summer, the Astros robbed him. Scott Boras owns Major League Baseball and the SF Giants brass are out of their minds.

http://sports.espn.go.com/mlb/news/story?id=2710389

 

Zito's Giants deal worth about $18M per year

SAN FRANCISCO -- The Bay Area's other Barry is the new face of the San Francisco Giants -- now and well into the future.

Barry Zito's reported deal of seven years and $126 million with the Giants would tie Vernon Wells' new deal as the sixth richest in the history of the sport. Figures are from player and management sources and include all guaranteed income but not income from potential incentive bonuses. There is no distinction for money deferred without interest.

Barry Zito and the Giants reached a preliminary agreement on the largest pitcher contract in baseball history, a $126 million, seven-year deal. Zito joins the Giants three weeks after the club came to terms on a new $16 million, one-year contract with slugger Barry Bonds for a 15th season.

A source familiar with Zito's contract told ESPN.com's Jerry Crasnick that the agreement includes an $18 million option for 2014 with a $7 million buyout that could increase the value to $137 million. The option would become guaranteed if Zito pitches 200 innings in 2013, 400 combined over 2012 and 2013 or 600 combined from 2011-13. Zito also has a full no-trade clause.

"We view Zito as a franchise player, and we'll certainly need one when Bonds goes," a Giants source told The San Francisco Chronicle.

Zito's father, Joe, and Zito's publicist, Kathy Jacobson, confirmed the deal, while the Giants were waiting for Zito to take a physical Friday before making things official. San Francisco planned to formally introduce the three-time All-Star sometime next week.

"I think it's a very, very good fit," Joe Zito said. "Truly, I am respectful of the owners who came forward and would believe in Barry to such a degree that they would go this far. I am profoundly respectful of that. He is truly happy."

The deal ties for the sixth largest overall, matching the $126 million, seven-year extension agreed to this month by Toronto and center fielder Vernon Wells.

"It's a huge piece of the puzzle as far as solidifying our rotation," fellow Giants lefty starter Noah Lowry said. "We have a couple of No. 1-caliber pitchers. I'm obviously going to be able to learn from him. I think the seasons as long as they are and as grueling as they can be, he hasn't missed a start and that says a lot about the guy and his durability."

The Giants, who missed the playoffs the past three seasons, were looking for someone to fill the void left when ace Jason Schmidt departed earlier this month for the rival Los Angeles Dodgers.

"A lot of money," Zito's former Oakland teammate Mark Ellis said. "I was shocked. That's great for him. That's a good place for him. There couldn't be a better fit I don't think. Obviously, we wanted him in Oakland."

Giants general manager Brian Sabean had said the team had money to spend for a top pitcher, and Bonds agreed to defer some of the money from his new contract to give the team flexibility to improve the roster. Sabean never said how much money the Giants had to spend, but Zito's contract far surpasses the $90 million, five-year contract the club gave to Bonds after his record-setting 2001 season.

The Giants' top brass -- including owner Peter Magowan, executive vice president Larry Baer, Sabean and new manager Bruce Bochy -- had a long dinner with Zito and his agent, Scott Boras, at the posh Peninsula hotel in Beverly Hills on Nov. 26. The sides hit it off.

Previously, the largest contract for a pitcher was Mike Hampton's $121 million, eight-year deal with the Colorado Rockies before the 2001 season. Kevin Brown received a $105 million deal from 1999-2005. Both players have dealt with injury problems and

 

Lock 'er up mods. My mistake.