Saturday, February 2, 2008

Santana's contract extended, trade becomes official

Johan Santana and the Mets agreed on a 6 year contract extension worth about $150 million. He will be making more money each year than the previous year, and there is an option for the 2014 season worth $25 million, with a $5.5 million buyout. It's an easily obtainable option, so chances are it will be exercised.

In order for the option to be picked up, Santana would have to do one of the following:

• Win one Cy Young Award and finish in top three of Cy Young Award voting one other year
Or finish in the top three in Cy Young Award voting three times in the six years
Or pitch 215 innings in 2013
Or average 210 innings in the last two or three guaranteed years

The payout of the contract is as follows:

2008: $19 million
2009: $20 million
2010: $21 million
2011: $22.5 million
2012: $24 million
2013: $25.5 million
2014: $25 million (option)

In other news, the Mets agreed with RHP Jorge Sosa to a 1 year deal worth $2 million. Sosa went 9-8 last year with a 4.47 ERA in 42 appearances -- 14 as a starter -- and 112 2/3 innings.

The Mets are rumored to be interested in free agent pitcher Kyle Lohse, and are supposedly close to a one year deal with him. Terms of the rumored deal weren't available, but it would probably be somewhere in the $3 million or $4 million range. Lohse went 9-12 with a 4.62 ERA last year for the Phillies and the Reds. He'd be a candidate for the fifth spot in the rotation or the long-man role in the bullpen.

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