Mark Feinsand and Bill Madden break this story: The Yanks and Jorge Posada have agreed to a four-year, $52-million contract. The deal, of course, depends on a physical and some final language. It is not finalized yet, but the inking of the deal seems to be a mere technicality right now.
Per The Daily News:
After being schmoozed by Mets general manager Omar Minaya Monday afternoon during a lengthy lunch at Le Cirque, Posada and his agents finally received the offer from the Yankees they had been hoping for all along. The Yankees offered Posada a four-year, $52 million contract … to remain in pinstripes. The deal will become official pending a physicial and final contract language being ironed out.
In a lunch meeting with Brian Cashman on Friday, Posada and his wife, Laura, made it clear to the Yankees’ GM that they were seeking a four-year contract. Cashman had been holding firm to the team’s original three-year, $40 million offer throughout the negotiations, but after mulling over the issue this weekend, Cashman, Hank and Hal Steinbrenner agreed during a morning conference call yesterday that they would give Posada the fourth year.
Four years is good. I can deal with four years. While I doubt Posada will be an effective catcher by the end of this deal, it’s miles better than a five-year deal, and the dollars are right. Posada has basically set the market. He signed for $13 million a year when most people were pegging him at $15 mil per. I wonder how this will affect Mike Lowell who supposedly wants a similar deal and Alex Rodriguez who really shouldn’t get an offer higher than $25 million.
Posada picked a great year to turn in an MVP-caliber season. Had the Yanks negotiated with Posada before he hit .338/.426/.543, they probably could have signed him for less. Of course, no one expected him to hit that well, and I’m not sure he will approach those numbers during the course of this season. But, hey, at least now he can feed Latrell Spreewell’s family.
Credit on that video there goes to my sister. Click the link and watch it. It’s funny.