Oct
31

Yankees agree to extension with CC Sabathia

By

CC Sabathia stayed true to his word. After three years of professing his love for New York and the Yankees, the big lefty did not trigger the opt-out clause in his contract prior to tonight’s midnight deadline. As he says in the video above (via Zoodig), he and the team have agreed to a new contract extension that will almost assuredly keep him in pinstripes for the remainder of his career.

Now, for the gory details as reported by Buster Olney, Ken Rosenthal, and Joel Sherman. Essentially, it’s a five-year deal worth $122M guaranteed plus a sixth year vesting option worth $25M. That option depends on the health of his left shoulder. If Sabathia a) finishes the 2016 season on the DL with a shoulder injury, b) spends 45 days on the DL with a shoulder injury in 2016, or c) has to make six relief appearances in 2016 due to a shoulder problem, the option will not vest and he will instead receive a $5M buyout. There is no protection against elbow problems, and as far as we know, there are no provisions about his weight. At the end of the day, the Yankees added one year and $30M guaranteed to the four years and $92M still left on his original contract.

The team’s original offer, which we’ve know about for a while, was a five-year package worth $120.5M guaranteed according to Sherman, or half-a-mil more than Cliff Lee got from the Phillies. The Yankees increased their offer today to keep Sabathia from opting out and hitting the open market. The new deal ensures that CC is the highest paid pitcher in the game in terms of average annual value ($24.4M) and total package (the original $161M contract). We don’t know what other teams would have gotten involved in the bidding had he hit free agency, but I think it was in the Yankees’ best interests to avoid that scenario. Sabathia comes out looking like the good guy as well.

With that taken care of, the team can move forward with its offseason business. The rotation still needs help even with Sabathia back on board, but at least now the Yankees know they will have their ace left-hander ready to take the ball on Opening Day. Welcome back CC, I’m glad you never left.

Categories : Transactions

132 Comments»

  1. The Fallen Phoenix says:

    Yankees extend Sabathia for all of the Halloween candy!

  2. Have I ever said how much I love this guy?

  3. Bob says:

    Wow, that was unexpected. And very classy too, so much for testing the market.

  4. blazini says:

    hot damn! now that’s what I call a treat (as opposed to a trick)

  5. Brooklyn Ed says:

    See… CC is a man of his words. He said he won’t opt out, and he didn’t.

    • GT Yankee says:

      You are so right Ed. I know he is still making a ton of money, but it’s so good to see that a pro athlete has some sense of loyalty to a team and fan base. Certainly a world different from A-Wad. I’m sure the Yankees worked hard to make this happen, but you can bet that if C.C. didn’t care that it wouldn’t have happened-Extension and all. I think I have a new favorite Yankee!

      • OldYanksFan says:

        As was the announcement during the WS, that shit was Boras… not ARod. People can shit on ARod if they like, but the guy has tremendous resepct for the game.

        The Yankess GAVE him his current contract because they were/are hoping he gets the HR crown. He would have signed for 8/$220m or maybe 7/$195, but the Yankees WANTED to motivate him to get the crown. Tom Hicks fucked up, and the Yankees had their own reasons.

        ARod didn’t demand his contract. He didn’t hold anyone at gunpoint. Nobody else was gonna give him more then $200m.

        It ain’t ARod’s fault that poeple seem to want to overpay him.

  6. bobtaco says:

    So if he is going to finish his career as a Yankee, how many years was the extension?

  7. Alfredo says:

    Yes!!!!!!!!!!!!!!!!!!!!
    Now go get Darvish!!!!!!!!!

  8. CBean says:

    nice and painless. I love CC.

  9. YankeesJunkie says:

    CC probably realized that he was not going to get so much more money if any at all just to spurn the Yankees offer by opting out. This off season has completed its most important part of the offseason.

  10. Dave203 says:

    Sooo… Waiting for the apologies from all of the morons calling him a liar before he even opted out…

    Feel free to start posting…

    • YanksFanInBeantown says:

      +1

    • Billion$Bullpen says:

      I for one never called him a liar, and kind of found it silly the people that did before he opted out. The flipside to that though is his agent said something to the effect that they planned on opting out and he works under the direction of CC, so it was silly and not all above board.

      I thought this was a possible outcome, because they knew that the Yanks would up the offer and the Yanks knew he liked playing here and there was no promise of more money elsewhere.

      I hope CC commits himself to getting in better shape, dropping some weight and keeping it off, like another big boy Ryan Howard did after he got his contract (which is a rarity in sports and I commend Howard for doing so)

  11. MUIDATS EEKNAY says:

    Hah, awesome. And congrats to RAB for essentially breaking this, since I don’t see it reported anywhere else yet.

  12. Liam in NY says:

    Huzzah!

  13. Grit for Brains says:

    CC is the man!!!!

    He’s talked the talk since he came to town…THIS (when he could have tried to squeeze every last penny out) was walking the walk!

  14. flamingo says:

    No way! Apparently CC is a man of his word. I was not expecting that.

    I was about to do a search to see if there was any news yet when this post popped up in my (newly hideously-redesigned) Google Reader. Made my night.

  15. 5/122 with a team (!!) option for 2017, says Buster.

    http://twitter.com/#!/Buster_E.....1023933440

    • Jesse says:

      Prediction: The Yankees will not exercise that option for 2017.

      • Dave203 says:

        Agree, but a good option to have in case he’s still pitching at a S25 million/yr level. Hard to imagine that being the case, but a nice option to keep. $5 million buyout a bargain.

      • ledavidisrael says:

        Not a great prediction. CC has been a 5 plus win player for six years now. The market value for a win is about 5million dollars. Chances are at 37 he can still put up a 5 WAR season.

        Perfect example is mike mussina someone who cleared the 5 WAR mark in two of his last three seasons. And hes not as good as CC.

        and we should assume the price of a win is just going to increase. You don’t think CC is a good bet to produce around 4 wins at age 37? This is a hall of fame caliber player. Your buggin.

      • Josh S. says:

        It apparently is a vesting option depending on certain criteria so the Yanks have no say on whether to pick it up or not in 2017. Either it vests and he pitches for them or it doesn’t, and he receives a buyout.

    • Dave203 says:

      Nice contract — only extending 1 year with the club option for the 2nd year. Thankfully we didn’t need to guarantee anything ridiculous like the rumored 7 yr deals.

  16. Freddy Garcia's 86 mph Heat says:

    I wonder what cc lied is doing right now…

    • Pat D says:

      Figuring out which article to troll next.

    • Soriano Is A Liar says:

      DOESN’T MATTER CC PUT THE YANKEE FANS THROUGH UNNECESSARY STRESS ABOUT THE OPT OUT LET HIM WALK TO THE RANGERS

      • Evan3457 says:

        1. Too late. It’s done.
        2. The team doesn’t give a damn about “unnecessary stress” that CC allegedly puts the fans through. I, myself, was experiencing little, if any, stress.
        3. Too late. It’s done.
        4. All caps != solid logic or thought.
        5. Too late. It’s done.
        6. The Rangers ain’t signing him, they have pitchers aplenty without him.
        7. Too late. It’s done.

  17. Bill R says:

    YEAAH!!! What a great Treat for Halloween!

  18. Sarah says:

    So much love for this announcement. Way to be a class act, CC!

  19. mt says:

    He really did want to not be the “bad guy” (he would be viewed this way by certain fans) in terms of going back on his word and opting out – I had a hope that this is way it would turn out.

    Hope is 5 years plus a vesting option for sixth year but given that he gave up his right to test open market probably a guarantted 6 years for 144 million. Can’t wait to see details.

    Maybe he and Cashman can have a joint press conference.

    (personally I had no problem with him opting out since it was in contract but I can also see him not wanting to be so blatant – if he opted out there would be no way it could be spun as not being about more money. If he loved NY so much,money would be the only reason to opt out.

    This way he can say Ynks approached him about having more years in the place he loves. How could he turn down their offer? He does not have to answer question – wouldn’t you have opted out for more money?

    • mt says:

      Typing too fast:

      Question he can avoid that reporters will want to press him on: CC, weren’t you going to opt out if Yanks did not give you more money/years? He does not have to speculate now. It is moot (although we all know the answer.)

      • mt says:

        If Buster Olney is right, it looks pretty good from Yankee standpoint. No guaranteed 6th year and he still outdoes Cliff Lee by a little ($24.4 mm versus Lee’s $24 million)

    • JayBuhnersGhost says:

      One-year extension worth $25MM on top of the four years and $92Mm remaining on Sabathia’s original deal. There is a vesting option worth $25MM option with a $5MM buyout.

  20. Rey22 says:

    CC is the fucking man! Imagine how disgusting this would be if Boras was his agent.

  21. Jesse says:

    Which post will have more comments? This one, or the Open Thread?

  22. AndrewYF says:

    Holy shit, CC Sabathia is a freakin’ hero.

    • Billion$Bullpen says:

      Lets not go that far buddy. He plays baseball and gets paid 25 mill a year to do so, not exactly a hero in my book.

  23. Adam says:

    Patiently waiting for an apology for all the CC-skeptics. It may be a long night…

    Glad to have the big fella back, totally fair deal.

    • FachoinaNYY says:

      I thought he was going to opt out, but I wasn’t faulting him for it.

      I agree that a lot of people will have to eat crow on this one, but its not that ridiculous to believe he was going to opt out.

      • Adam says:

        Even if he did opt out, I don’t really get what the big deal would have been. It would have stunk if he did and left the Yanks, but it has seemed silly to me to throw so much venom his way over the mere possibility of trying to get the best deal he could.

  24. keith says:

    seeing reports now that the option is vesting. still a damn fine deal.

  25. FachoinaNYY says:

    I almost feel like we kinda screwed CC is some weird way.

    I guess I am not used to a guy wanting to be here and willing to take less than market value to be here.

    Classy as ever CC, you will surely go down as one of my all time favorite Yankees.

  26. Tom Zig says:

    Wise move by CC Sabathia. He knew he wasn’t getting a bigger offer than what the Yankees offered him. He could have gotten more out of the Yankees had he opted out. But at that point, who cares. He decided to take the most painless route and not piss off the fan base.

    Excellent news, indeed!

  27. BJ says:

    YES. Best news I’ve heard all day.

  28. Ron says:

    Hmmmm…looks like CC ignored A-rod’s advice ;)

  29. Steve H. says:

    Boo hoo CC lied crew.

    • BK2ATL says:

      Where’d they go???

      • mbonzo says:

        I was being sarcastic when I said it. I actually predicted he was trying to increase his offer from the Yanks by giving Heyman the news that he was planning on opting. Theres a link below on that. Even if he opted out, you can blame him, thats exactly what any of us would do if we were given that right.

  30. Steve S. says:

    Bravo. Great job by all parties involved. CC was contractually entitled to exercise his opt out, yet they worked out an extension that both sides could be happy with without him having to actually use it, which was key from a PR standpoint. He lives up to his good guy image by showing he was telling the truth when he said how much he likes it here and not squeezing the Yanks for every dollar. From the Yanks side, they do what they had to keep their ace without creating another albatross deal. CC at age 36 doesn’t scare me.

    Damn, this was easier than Jeter, Mo, Alex or Posada ever was. I was expecting things to get ugly at some point, and I’m glad it didn’t come to that.

  31. Just when I thought I couldn’t love CC Sabathia any more than I already do…

  32. forensic says:

    So, did they break their blanket organizational mandate of not negotiating with anyone still under contract or did he somehow opt-out without it leaking out???

    • mt says:

      Hw was five hours from opting out – I think Cano or anyone else who tries to say Yanks broke their organizational mandate will be hard pressed to defend that.

      Even though he did not technically opt out, we (and future agents for other clients) all know what was going on.

      (Still may mean they will approach Cano one day but I don’t think CC can be used as any great “exception to policy”)

  33. OMGBagels! says:

    The circus does not come to New York. Thank you Zee Zee

  34. Erica says:

    YAY!!!! This is wonderful and the video was great. Go CC!

  35. Countryclub says:

    The 6th yr vests unless he has major shoulder issues. So it’s most likely going to be 6 yrs at 147 mil.

  36. BK2ATL says:

    Kudos to Cash for getting this foolishness over and fast. Kudos to CC for handling his business.

    Where are those “let him go, then let’s sign Pujols, Oswalt and Jackson” folks??? Where did they disappear to so fast?

    Cashman re-signed? Check
    Cano option exercised? Check
    Swisher option exercised? Check
    CC locked in for 5-6 years in pursuit of more WS titles and 300 wins? Check

    Now, onto to Darvish.

  37. Jumpin' Jack Swisher (formerly Jorge) says:

    I love this man. The big man will remain in pinstripes FOREVER.

  38. Mike P says:

    Wonder if Randy Levine was pulling the strings on this one… I’m so glad Cashman’s contract was extended.

  39. UYF1950 says:

    It’s a win, win. Great news if you’re a Yankees fan. Now Cashman can concentrate on “other” things.

  40. John says:

    Well in my opinion CC stayed true to his word.

  41. Mark says:

    If Buster is right with the 5 million dollar buyout on the 6th year option this is an excellent deal. If he is shot after five they can just buy him out for the 5 million. Is it an expensive buyout, of course, but better than paying a mediocre pitcher 25 million dollars in that 6th year.

  42. OMGBagels! says:

    Last night I said I didn’t see the need for him to “look around.” He knows what is out there and would he move his family to anywhere but NorCal? He also knows that the Yankees will treat him/pay him better than anyone.

    Oh, and the pinstripes are slimming.

  43. Karl Krawfid says:

    Damn CC left a lot on the table.

    Thanks big CC!

    • John says:

      How much did he leave on the table? He got 142M for six years unless he hurts his shoulder. Who would have given him more than that? Don’t get me wrong, I still love the deal, but he would not have done a whole lot better on the FA market.

      • Billion$Bullpen says:

        I also do not buy the whole he left money on the table deal. Not many teams can pony up that sort of money for any player let alone a pitcher and two other players that most likely will get that much or more in Albert and Cecil Jr are out there as well.

  44. Gonzo says:

    Good for him. Very smooth move putting it online himself.

  45. Steve S. says:

    Now that “CC Lied!” is a dead topic, what is Mo going to do for his inaugural post?

  46. RAB LIED says:

    RAB LIED! THEY SAID CC WOULD OPT OUT AND HE DIDNT!

  47. Jamey says:

    Alright Cashman, YU know what we want to see next.

  48. Steve S. says:

    The contract length is interesting. He’s 124 Wins away from 300, so if he stays healthy andproductive he could pass 300 in his option year.

  49. RaeGun says:

    So CC never used the opt-out eh?

    Guess he ain’t a liar.

  50. steve (different one) says:

    This is great. The best part about it is the total lack of drama. Compared to the zoo in Boston, it’s like we’re in bizarro world. Go get one more starter and we’re ready to go.

  51. Johnny O says:

    So much to like about this. The fact that they got it done before he opted out, the deal itself, and the little youtube announcement to the fans.

    Very glad none of us have to go through the stress of Peter Gammons reporting that Larry Lucchino and John Henry were seen dining with Sabathia’s agent.

  52. DI says:

    I’m glad it’s for only five years. I take back all the stuff I said.

  53. Maris61 says:

    “C.C.” stands for “Classy Cat”

    No drama.

    It IS a very happy Halloween!!

  54. steve (different one) says:

    CC didn’t need to milk (pun intended?) the yankees for every last dollar since he knows he’s going to be rolling in cash from his new restaurants….

    http://msn.foxsports.com/mlb/s.....ers-102011

  55. LarryM.,Fl. says:

    Just heard the good news. We still have an ace for our staff. But lets understand this both parties wanted to dance. 6 years @ 142 can keep a bus load of family happy for generations to come. Its reasonable can I say that without biting my tongue.

  56. Yu ain't Matsuzaka (formerly Pants Lendelton) says:

    Good way to start off the offseason fellas

  57. Cuso says:

    I hope are you dinks that called him a liar these last 14 days are classy enough to apologize.

  58. PKR says:

    Good for CC. No negative feelings. Must’ve learned something from last off-season from Jeter.

  59. mt says:

    Technically CC did not opt out but Yankees were well aware that he was going to opt out at midnight if they did not extend and add dollars. CC gets no extra money/years without this provision.

    CC “opting out” had 2 related issues – a) CC getting more money/years and b) going through a free-agent process with possibility of losing CC before he eventually resigned with Yanks or another team. CC still got (a) but both parties avoided (b) because he technically did not opt out.

    In a strange way (given under all circumstances Yanks were going to have to pay up something) a win/win.

    I am also glad we avoided the wining and dining by Cherrington and Lucchino and (in some ways, even worse) Nolan Ryan and Daniels.

    • BK2ATL says:

      I really don’t think his wife would’ve allowed him to be entertained by other teams. She just got a “CC52″ tattoo behind her right ear the other day. There was never a plan to leave NYC. They LOVE it there.

      He really wants to be a Yankee, to win another WS with Jeter, to win 300 games in the Bronx, to end his career here, and to have #52 retired.

      We’re lucky to have him.

      • David, Jr. says:

        You are right on. The wife is very important in these situations. She told him “We are staying right here!”.

  60. JasonScando says:

    Yay we love you CC!

  61. Peter Temple says:

    HHHOOORRRRRRAAAAAAYYYYYYY!!!!!!!!!!!!!!!!!!!!

  62. mike says:

    Welcome back, CC! Great man.
    Now Yankees should target on CJ, Darvish, or Oswalt. Yankees do need at least another big starter if they target on WS.

  63. Pete says:

    Thankyou CC!

  64. Jake H says:

    Got to say that was a win for the Yankees and for CC.

  65. bonestock94 says:

    Awesome! No ugly media fiasco, nice, short and sweet. Now to add a number 2.

  66. mustang says:

    Nice to see the big guy back, but even nicer is to see a modern day athlete actually keeping his word.

    CC just move up a few levels.

  67. pat says:

    I just wanna give him a hug!

  68. Mickey S says:

    Are there four opt out clauses in this deal?

  69. Billion$Bullpen says:

    “It was never a question about money or anything like that; it was just being more time. I want to end my career here,”

    Sorry but I gotta call BS on CC here. Yeah sure you did not care about money it was about making sure your family was ok. When is some reporter going to ask one of these jocks how much their family needs to be ok? If it was not about the money why not just ask for another 10 years for 50 mill.

    Rule #1, when somebody says “its not about the money” its ALWAYS ABOUT THE $

    Highest dollar per year average for a pitcher ever in MLB does not happen if $ does not matter.

  70. Yes That One says:

    That was a classy move on CC’s part. He got a better contract without antagonizing the ownership or fans. Nicely done.

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