Derrek Lee and the Orioles are making their one-year deal official today, and Don Connolly of the Baltimore Sun reports that the contract is worth $7.25 million in guaranteed money plus another $2.75 million in potential “performance bonuses.”
Lee just finished a five-year, $65 million deal signed with the Cubs in 2006, but is a 34-year-old coming off a career-worst season filled with thumb problems and the going rate for a veteran first baseman/corner outfielder coming off a down or injury wrecked season appears to be around $8-10 million.
Lance Berkman got $8 million from the Cardinals. Carlos Pena got $10 million from the Cubs. Magglio Ordonez got $10 million from the Tigers. And on the low end Hideki Matsui and Lyle Overbay each got $5 million. Lee’s deal could be worth up to $10 million and I like his chances of bouncing back in 2011, in which case he probably has more upside than any of those other guys.