Cubs finalize $60 million extension with Starlin Castro

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Making official what was first reported two weeks ago, the Cubs have finalized a seven-year, $60 million contract extension with shortstop Starlin Castro that includes a team option for 2020.

Castro is making the minimum salary this season and would have been arbitration eligible for the first time next year. And as a “Super Two” player he would have had four total seasons of arbitration eligibility before reaching free agency.

All of which means the seven-year extension covers all four arbitration seasons and his first three free agent seasons while giving the Cubs a $16 million option or $1 million buyout on his fourth free agent year. Carrie Muskat of MLB.com has the year-by-year breakdown:

Signing bonus: $6 million
2013: $5 million
2014: $5 million
2015: $6 million
2016: $7 million
2017: $9 million
2018: $10 million
2019: $11 million
2020: $16 million option or $1 million buyout

Compared to his rookie and sophomore campaigns Castro has taken a step backward this season, hitting .276 with a .729 OPS, but he’s already reached a career-high with 12 homers in 127 games and at age 22 there’s still plenty of room for further development.

Castro already has 1,761 career plate appearances with a month to go in his age-22 season. In the history of baseball the only shortstops with more plate appearances through age 22 are Robin Yount, Edgar Renteria, Alex Rodriguez, Elvis Andrus, Arky Vaughan, and Travis Jackson. If he turns out to be as good as the worst player on that list the Cubs will have gotten a bargain in Castro’s extension, which covers the rest of his twenties.

Report: Phillies, Giants interested in Jeurys Familia

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ESPN’s Buster Olney reports that the Phillies and Giants are among the teams interested in Mets closer Jeurys Familia. Olney adds that the Phillies may prefer to wait to see what happens on the Manny Machado and Zach Britton fronts before moving on to Familia.

Familia, 28, has racked up 17 saves with a 2.88 ERA and a 43/14 K/BB ratio for the Mets this season across 40 2/3 innings. It’s been a good bounce-back year after struggling and battling a blood clot in his right shoulder in 2017.

Familia would be a rental for any team that would acquire him, as he’s a free agent after the season. Regardless, he ranks among the best relievers available heading into the July 31 non-waiver trade deadline.

Both teams could use the bullpen help. The Phillies’ bullpen is largely young and inexperienced, and has battled inconsistency in the first half. The Giants are without closer Hunter Strickland and only got Mark Melancon back last month.