Details of Carlos Santana’s long-term contract with Indians

4 Comments

Paul Hoynes of the Cleveland Plain Dealer has the year-by-year breakdown of Carlos Santana’s new contract with the Indians:

Signing bonus: $1 million
2012: $501,900
2013: $550,000
2014: $3.5 million
2015: $6.0 million
2016: $8.5 million
2017: $12 million option or $1.2 million buyout

That adds up to a minimum of $21.25 million for five years and a maximum of $32 million for six years. Because this season is technically included as part of the five-year contract the Indians are merely pre-paying for Santana’s arbitration eligible seasons from 2014-2016 while securing a $12 million option for his first season of free agency in 2017.

All things considered $21.25 million isn’t a ton of risk and if Santana develops as expected–he’s already one of the best catchers in baseball–they’ll save considerable money in those arbitration seasons while keeping him off the open market for an extra year in his prime.

Santana, who amazingly was acquired from the Dodgers for Casey Blake in mid-2008, has an .826 career OPS that ranks second among all catchers with at least 200 games since 2010 behind only Mike Napoli.

Red Sox employees “livid” over team pay cut plan

Getty Images
14 Comments

Even Drellich of The Athletic reports that the Boston Red Sox are cutting the pay of team employees. Those cuts, which began to be communicated last night, apply to all employees making $50,000 or more. They are tiered cuts, with people making $50-99,000 seeing salary cut by 20%, those making $100k-$499,000 seeing $25% cuts and those making $500,000 or more getting 30% cuts.

Drellich reported that a Red Sox employee told him that “people are livid” over the fact that those making $100K are being treated the same way as those making $500K. And, yes, that does seem to be a pretty wide spread for similar pay cuts. One would think that a team with as many analytically-oriented people on staff could perhaps break things down a bit more granularly.

Notable in all of this that the same folks who own the Red Sox — Fenway Sports Group — own Liverpool FC of the English Premier League, and that just last month Liverpool’s pay cut/employee furlough policies proved so unpopular that they led to a backlash and a subsequent reversal by the club. That came after intense criticism from Liverpool fan groups and local politicians. Sox owner John Henry must be confident that no such backlash will happen in Boston.

As we noted yesterday, The Kansas City Royals, who are not as financially successful as the Boston Red Sox, have not furloughed employees or cut pay as a result of baseball’s shutdown in the wake of the COVID-19 pandemic. Perhaps someone in Boston could call the Royals and ask them how they managed that.