Tuesday, October 30, 2012
Get Ready For Two More Years Of Bulldoggin'
Well Rick Hahn sure isn't wasting a lot of time before getting to work is he?
Hahn's first official act as the general manager of the Chicago White Sox was to sign Jake Peavy to a two-year extension, which the Sox announced on Tuesday.
The two-year deal is worth $29 million.
I'd been expecting the Sox to buy out of Peavy's contract for $4 million and let him hit free agency. I know Peavy had expressed a desire to stay in Chicago, but I figured that the lure of one last big payday on the open market would prove to be too much to make it happen.
I was wrong. I really like this deal for the White Sox, and Peavy must really love it here to give this kind of discount. If the Sox had chosen not to buy Peavy out of his deal they would have had to pay him $22 million for 2013. Instead they'll be paying him $29 million for 2013 and 2014.
That's only $14.5 million a year, which is only $250,000 more than they'll be paying John Danks.
So high fives all around for Hahn and Peavy on this one.
It wasn't the only move the Sox made today, either. They picked up the $9.5 million option on Gavin Floyd for next season -- as expected -- and declined the options on Brett Myers and Kevin Youkilis. The Sox still have exclusive negotiating rights with both until Friday, but whether or not they'll be serious negotiations remains to be seen.
As for Floyd's option, it's no guarantee that he'll be pitching for the Sox next season. It's entirely possible they could still trade him this winter. In fact, now that they've re-signed Peavy, I think the odds of a Floyd trade only increase.
Of course, I've already been wrong once in this post, so who knows?