Miguel Cabrera signs 8yr $152.3M extension

March 24, 2008 at 9:10 am 4 comments

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Miguel Cabrera and the Detroit Tigers reached a preliminary agreement Saturday on an eight-year, $152.3 million contract extension, a source close to Cabrera told ESPNdeportes.com on condition of anonymity.

“Miguel just signed a big contract,” said the source. “The contract will be completed when Miguel takes a physical on Monday.”

Cabrera agreed Jan. 18 to an $11.3 million salary for this season. The new deal adds $141 million over the following seven seasons.

He will earn $15 million in 2009, when he would have been eligible for salary arbitration. He will average $21 million over the next six seasons, when he would have been eligible for free agency.

Cabrera’s average salary of $19,037,500 will be the fourth-highest in the major leagues behind those of New York Yankees third baseman Alex Rodriguez ($27.5 million), New York Mets pitcher Johan Santana ($22,916,667) and Boston left fielder Manny Ramirez ($20 million).

His deal also will be the fourth-highest package. Rodriguez is starting a $275 million, 10-year contract, Yankees shortstop Derek Jeter is entering the eighth season of a $189 million, 10-year deal and Ramirez is in the final guaranteed season of a $160 million, eight-year contract.

Cabrera’s contract is also the richest in Tigers’ history. Magglio Ordonez had the previous record when he signed with Detroit for $75 million and five years in 2004.

This was a must for the Tigers. They now have, potentially, the best hitter we will see in the AL for a long time locked up for a long time.

-Jonathan C. Mitchell
information was taken from ESPN.com and the AP

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Entry filed under: Uncategorized.

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4 Comments Add your own

  • 1. Erik  |  March 24, 2008 at 12:27 pm

    It was a must for the Tigers Yes. I think however, even before Miguel Cabrera steps on the field at Comerica Park this was a mistake! He could have gotten an incredible amount duing free agency! And I am quite sure other teams would have paid handsomely for his services… He sold himself short in my opinion. But hey he is a special player.

    Reply
  • 2. Jonathan C. Mitchell  |  March 24, 2008 at 12:31 pm

    I agree on Cabrera’s behalf. I think he could’ve gotten $200M over 10yr on the open market easily.

    Reply
  • 3. Charlie Nehl  |  March 25, 2008 at 6:58 am

    Yes it was a must, but I still don’t like the guy.

    Are the tigers turning into the Yankees? Trying to buy their Rings?

    Reply
  • 4. Erik  |  March 25, 2008 at 7:36 am

    Excellent questions Charlie they are making a team balance and are paying enormous amounts of cash to do so… which was the Yankee mantra for years.

    Reply

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