TUCSON, Ariz. -- The Rockies and closer Manny Corpas have agreed in principle to a four-year contract that pays a base salary of $8 million, and could net him two additional years and a total of more than $22 million.
According to a baseball source, the deal has two club options. Corpas would earn more than $13 million with the first club option when exercised and more than $22 million if the second option is picked up. The sides are completing the final paperwork.
If I'm reading that correctly, he'll earn $8 million guaranteed over the 2008-2011 seasons. He just misses qualifying for "Super Two" status given his 2006 service time, so he would have been arbitration eligible after the 2009 season. That means that this deal essentially buys out two years of arbitration (and two additional years of service) for a total of $8 million.
Now, assuming he continues to develop, the first club option in 2012 would appear to pay him $5 million if exercised.
The second would presumably pay him an additional $9 million if exercised in 2013 to get him to the $22 million figure quoted in the article.
PECOTA has him pegged at $23,050,000 in marginal value above replacement player (MORP) over the next four years alone, which is when he's scheduled to make $8 million. I'd say that's a good value...
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