Giants sign MVP Buster Posey to $167 million contract

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Justin Verlander isn’t the only former MVP getting paid today, as Andrew Baggarly of CSNBayArea.com reports that the Giants and reigning NL MVP Buster Posey have agreed to a nine-year contract.

Posey was set to make $8 million this season, but this new contract wipes that away and will pay him $167 million from 2013-2021. In doing so the Giants have bought out Posey’s three remaining seasons of arbitration eligibility (2014-2016) and his first five seasons of free agency (2017-2021), and there’s also an option for 2022.

Posey will be 35 years old in 2022, so this basically makes him a Giant for life. Not bad for a guy who was facing major questions this time last year as he came back from a broken ankle that ended his 2011 season. Posey’s deal is the second-highest in baseball history for a catcher, trailing only Joe Mauer’s eight-year, $184 million contract with the Twins that was signed in March of 2010. Posey now, like Mauer then, is coming off an MVP-winning season that included a batting title, although he was further from free agency than Mauer then.

Here’s the full contract breakdown:

Bonus: $7 million
2013: $8 million
2014: $12.5 million
2015: $16.5 million
2016: $20 million
2017: $21.4 million
2018: $21.4 million
2019: $21.4 million
2020: $21.4 million
2021: $21.4 million
2022: $22 million option or $3 million buyout

Padres sign Jordan Lyles

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The Padres announced on Sunday that the club signed pitcher Jordan Lyles to a one-year major league contract with a club option for 2019. According to Jon Heyman of FanRag Sports, Lyles will earn $750,000 in 2018. Pitcher Travis Wood was designated for assignment to create room on the 40-man roster for Lyles.

Lyles, 27, had miserable results between the Rockies and Padres last season, compiling an aggregate 7.75 ERA with a 55/22 K/BB ratio over 69 2/3 innings. While he specifically gave up 24 earned runs in 23 innings across five starts with the Padres, it was a small sample. A full season at the pitcher-friendly Petco Park, as opposed to Colorado’s Coors Field, might help revitalize his career.

Wood, 30, went to the Padres at the non-waiver trade deadline from the Royals this past season. Overall, the lefty posted an aggregate 6.80 ERA with a 65/45 K/BB ratio in 94 innings. He’ll earn $6.5 million this season and has an $8 million mutual option with a $1 million buyout for 2019. So, the Padres are just eating $7.5 million minus the league minimum, assuming Wood latches on elsewhere.