Appears Zambrano Contract Extension Imminent

The Daily Herald is reporting that the Cubs have called a 10:15 AM (CDT) press conference where they are expected to announce a multi-year contract extension for RHP Carlos Zambrano. Zambrano, who is eligible to be a free-agent after this season, is presently signed to a one-year contract for a $12.4M base salary, plus another $2M+ in potential incentive bonuses related to All-Star selection (didn't get that), Gold Glove, Silver Slugger, a top three finish in the Cy Young Award vote, a top three finish in the MVP, and MVP in the LDS, LCS, and WS. AZ PHIL UPDATE #1: ESPN Radio 1000 is reporting the deal will be five years for $90M. That means an average salary of $18M per year over the length of the deal. Still unknown are any player options, club options, and/or vesting options that will be built into the contract.
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Foxsports.com is reporting 5 years at 91.5 mill. A lot of money but I think the Cubs had to do this.

Its about time that we did something useful to shore up the pitching staff. He may be batshit crazy, but at least we don't have to compete against him.

to quote Homer Simpson, "Woo-Hoo!!!"

Zambrano 3/44?

As I said in the previous thread, Levine reported it was 91.5 million dollars - five years, and a 6th year player option for 19.25 million.

Bravo.

So much for a deal won't happen during the season.

McCarr:
He may be batshit crazy, but at least we don’t have to compete against him.

Exactly!

BTW -- TCR & MVN, "The Comebacks" Ad borders on NSFW, and, how do I put this gently, us day posters who have day jobs could get in a lot of trouble for it.

Rynox... get firefox, then install adblocker.

Rich:
Foxsports.com is reporting 5 years at 91.5 mill. A lot of money but I think the Cubs had to do this.

Supposing this rumor is true, that works out to average about 18.3 mil/year, but knowing how Hendry does things he'll probably back load it anyways, and by the time we get to year 5, that salary will be pretty much standard.

Yeah it is a lot of money, but you can't let a guy like Z walk this year. If he walks, about the only guy in the '07-'08 FA class available that could replace him is Z! Plus, he's only 26.

I hope this is true.

It makes me wonder if the Cub's have a prospective buyer in mind, and said buyer told them, "I don't care how much it costs the Cub's a few years down the road, you have to lock this guy in."

hopefully coangelo knew not having a dominant starter is no way to win.....see shilling/johnson.

Rynox-
That's what I was thinking about the owner.

If Zell falls through, the Trib will still sell the Cubs correct?

Much better to give Z that kind of money than to waste it on someone who is performing like Zito or maybe we could have just given him 3/44 as Sheffield mentioned. Either way, I'm drinking to celebrate after work tonight...as long as the Cards get swept this weekend.

If Zell falls through, the Trib will still sell the Cubs correct?

Not sure that we know that.

Much better to give Z that kind of money than to waste it on someone who is performing like Zito

Well... we don't really know how Z will perform, do we?

Not many people expected Zito to pitch this poorly.

Well, at least we won't have another Maddux situation on our hands. It certainly is a lot of money, but by the end of the five years, I'm sure that'll be cheap for a pitcher of his stature.

Whoever ends up owning the Cubs can afford it.

Was the final offer on the table by the Cubs during Sprint Training for 5 years, $85M? Would that have included 2007 as one of the five years?

As I said in a previous thread, the market is headed to $20M for actual frontline starting pitchers in the next four years. Barry Zito is foolishly promised $19M in 2012 and $20M in 2013, but that's because he is sucky Barry Zito and will be 35 in 2013. But his signing does give an indication of where the market is headed. Certainly in 2010 (when Peavy is a free agent) or 2011 (Brandon Webb), $20M will be the price for top starting pitchers. By year 6 of this contract, Z will still only be 32 and he does not have a history of injuries. So there is a good chance this will be a below-market deal in 2011-13.

dave: Loving the adblock, thanks, man!

Still, tcr/mvn, if you didn't have ads like that, we wouldn't need to block them. I normally don't mind ads. :-p

Rynox — August 17, 2007 @ 8:56 am
dave: Loving the adblock, thanks, man!

Still, tcr/mvn, if you didn’t have ads like that, we wouldn’t need to block them. I normally don’t mind ads. :-p

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RYNOX: TCR has no control over the ads. And BTW, we TCR writers don't see any part of the ad revenue either. That's 100% an MVN thing.

Zambrano press conf will be on ESPN 1000 shortly
http://tinyurl.com/3dq56y

# Arizona Phil says:

August 17th, 2007 at 9:00 am

Rynox — August 17, 2007 @ 8:56 am
dave: Loving the adblock, thanks, man!

Still, tcr/mvn, if you didn’t have ads like that, we wouldn’t need to block them. I normally don’t mind ads. :-p

======================

RYNOX: TCR has no control over the ads. And BTW, we TCR writers don’t see any part of the ad revenue either. That’s 100% an MVN thing.
..............................................................................................

So where does the money in the Booze/Hooker slush fund come from?

Not many people expected Zito to pitch this poorly

Quite a few people expected Zito to bomb. Maybe not to pitch as poorly as he has, but at least to pitch like a mid-rotation starter instead of an ace and be a complete albatross by year 7 of the contract

Az Phil- I agree the new owner will not have a problem with the contract and I disagree on your comment # 19 because how did you pay for that new in ground pool at your home? ;-)

Any truth to the rumor that Z signed the contract with his left hand because his right shoulder was bothering him?

~ducks from rocks thrown~

ugh....WGN is killing me. whay can't they break in during one of their typical awful 1980s reruns and televise this conference?!

Deal @$91.5 Million/5 years. Hendry starts off the conference. Paraphrasing cause I can't type that fast.
We're thrilled to be here today, to get this extension done with a marquee pitcher, to work through a lot of difficult circumstances with the company...the relationship Carlos has with all of us with the Cubs helped. There were bigger pots of gold out there on the streets. A young man who talked the talk and walked the walk. Carlos always assured me he wanted to stay here and win here. The dollars would have been astronomical by November. Dennis Fitzsimmons has always been in on winning and winning big here. He wanted the organization to be in the best shape moving forward. John McDonough was put in a tough spot as new president. Our goals are to win and win big. It's been a long road but not a rocky road. Barry (agent) have been together for about 12 days to get this done. Sometimes the final touches are even harder to get done. We were so close the other day that it might have weighed (on Z's) mind a bit. The Cubs will have one of the top pitchers in baseball for a long time. Thanks to John McDonough to get this done by mid august. Team "Z" next (agent Barry Praver and Zambrano)

Agent says they tried to get an extension done before spring training 2006 and there were 2 failed attempts.

From Carlos

"UH i would like to thankk god without him i'm srcewed"

We’re thrilled to be here today, to get this extension done with a Marquee pitcher

I sure like these deals more than when we throw good money at back end Marquis starters.

haha...

Carlos: "The only sad thing is that I have to be with [the press] for five more years."

woohoo! i can buy a zambrano jersey now without worrying about him leaving for a while!

Glad to hear about the signing and I think it's inexplicable that the Cubs waited to do this and cost themselves $10M more in the process.

Apologies for the incredibly short attention span, but is anyone else wondering if this isn't the only spot in the rotation we have to improve before next year? The inconsistency of Hill, Marquis and Marshall is becoming worrisome.

is anyone else wondering if this isn’t the only spot in the rotation we have to improve before next year?

Nope.

The rotation will almost assuredly be the same as this year. And I am okay with that - they have been the 2nd best starting staff in the NL all year. Not much you can complain about there.

Congrats to Cray Z.

Johan Santana is going to get a huge payday. $25 million a year at least.

I'm a bit worried about this contract, but we had to do it. Maybe Zambrano pitched crappily because he was in contract negotiations and he is a mental midget?

Your 2010 Chicago Cubs:

Zambrano: $18.3M
Soriano: $18M
ARam: $15.75M
Lee: $13M
Lilly: $10M

$75.05M committed to 20% of the roster. I'm not complaining. But it does imply a $150-175M team payroll for 2010. You have to consider that arb-eligible players like Hill, Marshall, Gallagher, Pie, Patterson, Theriot and Fontenot will be making several million a year if they are still with the team.

Then again, if Cuban buys the team, none of this matters and perhaps we can add Kosuke Fukudome, OF, $20M, to that list.

"The inconsistency of Hill, Marquis and Marshall is becoming worrisome."

I'd like to see us ad one more starting pitcher in the offseason, but it's far from our biggest weakness right now. We need 2 or 3 frontline relievers, a new rightfielder, a new centerfielder, and probably a new catcher unless Kendall gives us a big discount over his last contract. There's a chance Prior could be back, at a huge discount, I think Marmol should be moved to the rotation, Angel Guzman will get a long look, and Marquis, for as inconsistent as he's been, is a DECENT #5. I'd like to see either Hill or Marshall shopped to add some depth, or to fill one of our glaring weaknesses

Wes sent sound: kids-yeah

We need 2 or 3 frontline relievers

We do?

Then we could have 5 or 6 frontline relievers!

I am pretty sure that Dempster, Marmol, and Howry ARE frontline relievers. And Wuertz, for the most part, has been quite good.

a new rightfielder, a new centerfielder

I would not be shocked at all if the Cubs don't add either. Jones is signed through next year, and the Cubs also have Pie, Murton, and Fox who can and will play cf/rf.

And I would also be pretty surprised if a catcher was added. Soto will at least get a serious look.

As for Kendall giving the Cubs a "discount" from his current contract? He will have to give some team a "discount" - no team in baseball will give him anywhere close to the yearly amount his current contract gives him.

it does imply a $150-175M team payroll for 2010. You have to consider that arb-eligible players like Hill, Marshall, Gallagher, Pie, Patterson, Theriot and Fontenot will be making several million a year if they are still with the team.

I don't think any of those players are eligible for arbitration next year. Combined, they will probably make 3.5 or 4 million. AZP can correct me if I'm wrong.

I don’t think any of those players are eligible for arbitration next year.

He said 2010, not 2008.

Color me ecstatic!!!!! Now FU Jim Hendry!!! HOw could you not get us anything at the deadline. The excuse of being unable to extend payroll next year was false.

I'm much, much, much happier giving Big Z 18+ million rather than being locked into a heafty deal with a crafty lefty in Zito or a DL riding Schmidt. Both of whom had been on many TCR readers wish lists from last offseason and most seemingly would have blocked this deal until the pending sale. Good job Hendry and long live Big Z...!!!

He said 2010, not 2008

Ah, reading. It's a fine art.

The excuse of being unable to extend payroll next year was false.

Was that ever the major excuse, unless maybe you are talking about taking on Griffey's contract?

I thought the excuse was that there was very little available, and most of what was out there wasn't very good.

Stevens — August 17, 2007 @ 10:58 am
it does imply a $150-175M team payroll for 2010. You have to consider that arb-eligible players like Hill, Marshall, Gallagher, Pie, Patterson, Theriot and Fontenot will be making several million a year if they are still with the team.

I don’t think any of those players are eligible for arbitration next year. Combined, they will probably make 3.5 or 4 million. AZP can correct me if I’m wrong.

==========================

STEVENS: The only players presently on the Cubs 40-man roster whomwill be eligible for arbitration post-2007 are:

Neal Cotts
Roberto Novoa (probable "Super Two")
Mark Prior
Michael Wuertz

And of those four, Prior and Cotts are possible 12/12/07 non-tenders, and Novoa will likely get outrighted to the minors post-'07 while he still has less than three years of MLB service (once a player reaches three years of MLB ST, he can refuse an outright adssignment to the minors... BTW, a player can refuse an optional assignment to the minors once they hit five years of MLB ST).

So Wuertz is probably the only one of the four who will get offered arbitration by the Cubs when contracts are tendered on December 12th, and as a middle-reliever, I can't see him getting more than maybe $1M in his first year of arbitration eligibility.

"I thought the excuse was that there was very little available, and most of what was out there wasn’t very good."

I don't believe that Hendry ever came out and said that. IIRC, it was pundits over at ChiSports.com that were saying that. And all the other 'insiders'.

Well, payroll or not, who or what was out there that would have been a significant improvement? If we're talking Griffey, then I'm sure that money was a factor in the decision.

Otherwise, I can't think of anyone who was out there that would have been an upgrade, or worth giving up prospects to get.

one hitter got moved that was worth a damn, Teixeira. Cubs passed on Gagne as soon as they took a look at how Wood was doing.

It seems far more likely that the asking price far exceeded the talent that was available. Rumor was a good prospect and a young bullpen arm for Dye. Thanks but no thanks.

The only deal I would have liked was Griffey Jr,, but who knows what the Reds were asking. It could have been top talent and take most of his contract.

"Rumor was a good prospect and a young bullpen arm for Dye."

a good prospect and michael weurtz for Dye? Done!

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