Late last night Andrew McCutchen and the Pirates announced a six-year, $51.5 million contract extension and now Michael Sanserino of the Pittsburgh Post Gazette has the year-by-year breakdown:
2012: $0.5 million, plus $1.25 million signing bonus
2013: $4.5 million
2014: $7.25 million
2015: $10 million
2016: $13 million
2017: $14 million
2018: $14.75 million option or $1 million buyout
The extension pre-pays for McCutchen’s three arbitration-eligible seasons and buys out his first two years of free agency while giving the Pirates a $14.75 million option for his third year of free agency in 2018, when he’ll be 31 years old. If McCutchen stays healthy and his production doesn’t decline the Pirates will end up with quite a bargain, but snagging $51.5 million in guaranteed money at age 24 is pretty tough to turn down when he’s made “only” $1 million or so thus far.
As our own Matthew Pouliot pointed out last night McCutchen’s six-year deal is nearly identical to six-year deals signed previously by Jay Bruce and Justin Upton, and all three outfielders were first-round picks in the 2005 draft.