Tuesday, March 1, 2011
The deadline set by Albert Pujols to negotiate a contract extension with the St. Louis Cardinals passed at noon et on Wednesday February 16, and his future with the team remains uncertain. According to mlbtraderumors.com, Pujols declined multiple offers from the Cardinals, the last one reported to be for 9 years and over $200 million. According to ESPN.com, Pujols is looking for an extension of 10 years that would make him one of the highest paid players in the Major Leagues. It is likely that he is looking for a contract comparable to Alex Rodriguez at 10 years for about $28 million a season. We have pondered the imponderables of such contracts in the past here and in passing here and here.
The passage of the deadline does not automatically means that Pujols is destined to become a free agent. MLBtraderumors.com explains that the Cardinals will have a five day exclusive window to negotiate with him at the end of the upcoming season. If the two sides are unable to reach an agreement in that window of time then he would become a free agent and able to sign with any team he wanted including St. Louis.
Mlbtraderumors.com explains that the Cardinals may have trouble financially signing their star because of money that they have committed to other players. This means that the team may have to get creative in order to keep their star. This could mean that the team could ask other players to defer some of their contract salary in order to allow the team to sign their star. Cardinals All- Star Matt Holliday has hinted that he would be willing to defer some of his large contract in order to allow Pujols to sign. The team may also have to explore the option of trading some other players with large salaries in order to free up money under their budget.
Another interesting option that the two sides may be able to explore is having Pujols himself sign a contract in which he is paid considerably more per year near the end of the contract than the beginning. Since baseball contracts are guaranteed, this is an option that both sides may consider. That is, Pujols could potentially be paid tens of millions of dollars to sit on the bench if he is incapacitated by what everyone knows to be a career-ending injury.
[Jared Vasiliauskas & JT]