Busta bank: San Francisco Giants sign Buster Posey to nine-year deal
OK, this much we know: Buster Posey will remain a San Francisco Giant through the 2021 season — at least — and that’s a good thing.
In the two years in which Buster Posey has manage to finish the season on the field, the Giants have won two world championships. In the previous 56 seasons in which Posey was not on the field as season’s end for Giants, they have won zero titles.
How can you put a price tag on that? Well, the Giants tried to Friday, when the signed the 2012 National League MVP to an extension. The exact amount, well, we aren’t quite sure. It could be $161 million or $167 million or $189 million or something completely different.
Here are what the different media outlets are reporting:
Chris Haft of SFGiants.com is calling it an eight-year, $167 million extension. From what we can tell, this is inaccurate. The extension is for eight years on top of the one year he was already signed for, with a total value on the nine years at $167 million.
The San Francisco Chronicle reported the deal as an eight-year extension for $161 million. That extension on top of the $8 million he was due to make this season, it takes the total value to $167 million. Wait! What? I’ve never been good at math, so I’ll need to check with my 8-year-old son when he gets home, but I always thought 161 + 8 = 169.
CSNBayArea.com got a little closer to the right number by saying Posey will be paid $167 million over the next nine season.
But the San Jose Mercury News wins the prize for the most accurate reporting, although it took them about an hour to get it right. Here’s the breakdown (and the numbers add up).
- Signing bonus: $7 million
- 2013 – $ 3 million (the one-year deal for $8 million Posey signed during the arbitration process gets ripped up).
- 2014 – $ 10.5 million
- 2015 — $16.5 million
- 2016 — $20 million
- 2017 — $21.4 million
- 2018 — $21.4 million
- 2019 — $21.4 million
- 2020 — $21.4 million
- 2021 — $21.4 million
- 2022 — $22 million option, $3 million buyout
So if the option is picked up, the deal would be worth $189 million over the next 10 years. Posey will average $18.56 million a season over the next nine years, $18.9 over 10 if the option is picked up in his age 35 season. Posey just celebrated his 26th birthday on Wednesday. Happy Birthday, Buster.
When you consider that the Giants will pay Barry Zito and Tim Lincecum about $20 million each this season, it makes this season look like a great deal.
It also makes it look fairly evident that Posey’s days as a full-time catcher are limited.