Via the Associated Press, here are the details of the contract extension Johnny Cueto signed with the Reds yesterday:
2011 – $3.4 million
2012 – $5.4 million
2013 – $7.4 million
2014 – $10 million
2015 – $10 million team option or $800,000 buyout
Add it all up and Cueto, who submitted a figure of $3.9 million for arbitration this year, receives $27 million in guaranteed money while the Reds buy out his three seasons of arbitration eligibility plus his first season of free agency and secure an option for his second year of free agency.
Taking that kind of upfront cash is rarely a mistake for a 24-year-old pitcher, but if Cueto stays healthy the Reds will likely be very happy with the deal. Barring arm problems his first two years of free agency could be worth significantly more than $20 million and the Reds were able to gain the two additional seasons of control without going crazy on any of the salaries for arbitration seasons.
The Marlins announced on Tuesday afternoon that the club acquired pitcher Severino Gonzalez from the Phillies in exchange for a player to be named later or cash considerations.
Gonzalez, 24, was designated for assignment last Thursday by the Phillies to make room for outfielder Michael Saunders on the 40-man roster. The right-hander has had a rough go of it in 66 innings in the majors, owning a 6.68 ERA and a 62/14 K/BB ratio. That ratio shows there’s some potential there and the Marlins will have about five years to try and discover it.
Andrew Baggarly of the Mercury News reports that the Giants have signed catcher Nick Hundley. It’s a major league deal worth $2 million.
Hundley, who is 33, but who seems like he’s been in the bigs for about 27 years, hit .260/.320/.439 with 10 homers in 83 games for the Rockies last season. Obviously he will be the backup given the presence of Buster Posey.