The Reds inked first baseman Joey Votto to a three-year, $38 million contract extension on Sunday, buying out all three of his arbitration-eligible seasons. Now John Fay of the Cincinnati Enquirer has the financial breakdown of the deal.
Votto will earn a $5 million salary in 2011, a $9.5 million salary in 2012 and a $17 million salary in 2013.
The Reds also gave Votto a $6 million signing bonus, but they spread it out over the next four years due to budgetary concerns. He got $2.5 million when he signed the dotted line last weekend, he will get $1.5 million in 2012 and a late $2 million payment in 2014.
Why the late payment on the signing bonus? According to Fay, the Reds have determined they can not afford to pay $20 million per season — or even $19 million per season — to one player and still remain competitive. That almost certainly means that Votto will leave Cincinnati when he becomes a free agent after the 2013 season.
Unless, of course, things change and the Reds find a new way to pump revenue into the club. With a solid group of young players, they should be good for the next several years. Maybe the fans will begin to pack Great American Ballpark every night and maybe jerseys will begin flying off the shelves. But there is no reason to think that will happen. Last year, when Cincy captured its first National League Central title since 1995, the club finished 20th in overall attendance with an average of 25,438 fans per game.
They’ll have to do better.
Free agent outfielder/slugger J.D. Martinez is reportedly seeking an outfield gig, says Michael Silverman of the Boston Herald. According to Silverman’s sources, Martinez’s suitors have been informed that the veteran slugger would give preference to teams that can offer a corner outfield spot, rather than a DH-only role.
That could spell trouble for the Red Sox, who appear to be Martinez’s biggest suitors so far this offseason. Outfielders Mookie Betts and Andrew Benintendi are firmly established at the corners, and prior reports from club president Dave Dombrowski suggest that center fielder Jackie Bradley Jr. is not going anywhere anytime soon (thereby eliminating the possibility of reshuffling the outfield). The DH spot is still wide open for Martinez, who doesn’t seem to be totally closed off to the idea, but any full-time or part-time role on the field is likely off the table at this point.
Of course, the Red Sox aren’t the only ones pursuing Martinez’s services this winter. The 30-year-old slugger has been linked to both the Diamondbacks and Giants in weeks past, and while they have the roster flexibility to accommodate his preferences, they’ll need to clear another massive hurdle: the seven-year, $250 million contract he’s said to be seeking. Both clubs will need to get creative to make such a deal work. The Diamondbacks are rumored to be shopping right-hander Zack Greinke in an attempt to free up some room on their payroll for Martinez, while the Giants appear more inclined to scour the trade market for outfield help than shell out cash for another hefty contract in free agency.