Minnesota and reliever Glen Perkins have agreed to a three-year, $10.3 million contract extension that includes a team option for 2016.
Perkins, who avoided arbitration with a one-year, $1.55 million deal this season, was under team control via arbitration again for 2013 and then would have been a free agent.
By signing him the Twins pre-pay for that final arbitration season and buy out his first two seasons of free agency while giving themselves an option for his third free agent year. It’s a sizable commitment to a 29-year-old pitcher with a 4.41 career ERA and just one season of experience as a reliever, but Perkins added several miles per hour to his fastball in 2011 and logged 62 innings with a 2.48 ERA and 65/21 K/BB ratio.
He’s slated to be Minnesota’s setup man this season, but the extension makes it possible for the Twins to eventually slide Perkins into the closer role without worrying about how racking up saves would have caused his arbitration figure to rise dramatically. Instead he’ll be paid like a setup man through 2015 or 2016, although Joe Christensen of the Minneapolis Star Tribune reports that the extension does include incentives for games finished that would up his salary if he indeed becomes a closer.
Last week another left-handed setup man, Sean Marshall, agreed to a three-year extension with the Reds worth $16.5 million, but he has a longer track record of bullpen excellence than Perkins, was making twice as much in 2011 via arbitration, and was also one season closer to free agency.
UPDATE: Christensen has the year-by-year breakdown. Perkins gets $2.5 million in 2013, $3.75 million in both 2014 and 2015, and the 2016 option is $4.5 million or a $300,000 buyout.
Rian Watt of Baseball Prospectus is hearing that a trade that would send Aroldis Chapman to the Cubs involves prospect Gleyber Torres and more going to the Yankees. He adds that the holdup in the trade talks is centered around a contract extension for Chapman, believed to be around four years in length and $60 million total. The deal may not be finalized if the Cubs don’t get him signed to an extension they like. In Watt’s words, “Package is set. Extension is not.”
We learned earlier on Sunday that the Yankees were working hard to trade Chapman, reportedly in contact with at least four teams. The Cubs were not believed to be the front runners but certainly upped the ante by offering Torres.
Torres, 19, is rated the Cubs’ #1 prospect and #24 overall in baseball by MLB Pipeline. The shortstop has spent the season with Single-A Myrtle Beach, batting .275/.359/.433 with nine home runs, 47 RBI, 62 runs scored, and 19 stolen bases in 409 plate appearances.
Torres is currently roadblocked at shortstop by Addison Russell, and 21-year-old Ian Happ is rated #3 in the Cubs’ system, so the club would be dealing from surplus.
Prior to Sunday afternoon’s game against the Mariners, the Blue Jays designated reliever Drew Storen for assignment and recalled reliever Ryan Tepera from Triple-A Buffalo.
Storen, 28, had a nightmare of a time with the Jays, leaving with a 6.21 ERA and a 32/10 K/BB ratio over 33 1/3 innings. The Jays acquired him in January from the Nationals in exchange for outfielder Ben Revere and a player to be named later.
Storen is owed the remainder of his $8.375 million salary, which makes it likelier that the right-hander will pass through waivers unclaimed. He’ll be eligible for free agency after the season.