Cardinals and Yadier Molina closing in on five-year, $70-75M extension

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UPDATE: Rosenthal reports that the two sides are closing in on a five-year deal in the $70-75 million range.

Molina would make $14-15 million per season if Rosenthal is correct, which would give him the second-highest AAV (average annual value) for a catcher ever behind Joe Mauer’s current eight-year, $184 million contract ($23 million).

As Rosenthal notes, only six catchers have ever signed long-term deals which averaged more than $10 million per season: Mauer, Mike Piazza, Jason Kendall, Jorge Posada, Ivan Rodriguez and Jason Varitek.

7:28 PM: Ken Rosenthal of FOXSports.com reports that the Cardinals and Molina are “very close” to agreeing on a five-year extension worth more than $60 million.

5:44 PM: Last week the Cardinals and Yadier Molina were said to be making good progress on a long-term contract extension and now Joe Strauss of the St. Louis Post Dispatch reports that “terms are all but finalized.”

According to Strauss an agreement is expected to be in place by Friday and “both sides are very optimistic.”

Molina is currently slated to be a free agent next offseason, finishing up a five-year, $21.75 million deal that has proven to be a bargain for the Cardinals. Most speculation about his new deal has guessed 4-5 seasons at $10-12 million per year, which would be one of the five largest contracts ever for a catcher.

Report: David Price to pay each Dodgers minor leaguer $1,000 out of his own pocket

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Francys Romero reports that, according to his sources, Dodgers pitcher David Price will pay $1,000 out of his own money to each Dodgers minor leaguer who is not on the 40-man roster during the month of June.

That’s a pretty amazing gesture from Price. It’s also extraordinarily telling that such a gesture is even necessary.

Under a March agreement with Major League Baseball, minor leaguers have been receiving financial assistance that is set to expire at the end of May. Baseball America reported earlier this week that the Dodgers will continue to pay their minor leaguers $400 per week past May 31, but it is unclear how long such payments would go. Even if one were to assume that the payments will continue throughout the month of June, however, it’s worth noting that $400 a week is not a substantial amount of money for players to live on, on which to support families, and on which to train and remain ready to play baseball if and when they are asked to return.

Price’s generosity should be lauded here, but this should not be considered a feel-good story overall. Major League Baseball, which has always woefully underpaid its minor leaguers has left them in a vulnerable position once again.