Yankees resign Posada, 4 years 52 mil

[HollywoodLeo]

New York Yankees, Ivan Rodriguez, Jorge Posada, Johan Santana, Major League Baseball - CBSSports.com

NEW YORK -- The New York Yankees and Jorge Posada agreed Monday night to a $52.4 million, four-year contract that keeps the catcher off the free agent market.

A five-time All-Star, Posada said Sunday he was "really close" to a deal with the Yankees and his preference was to remain with the only major league team he's played for.


A person familiar with the talks confirmed the deal, speaking on condition of anonymity because the team didn't announce it. The sides were working late Monday on wrapping up details of the agreement, which was first reported by the Daily News on its website. Posada must pass a physical before the contract is finalized.
Posada's $13.1 million average salary becomes the highest for a catcher, topping the $10 million Detroit's Ivan Rodriguez and Boston's Jason Varitek currently are guaranteed and the $13 million Mike Piazza averaged under his contract with the New York Mets from 1999-05. Rodriguez will earn $13 million next year, the option season of his contract with the Tigers.


New York also was trying to re-sign Mariano Rivera before Tuesday, when free agents could start talking money with all clubs, but those talks were taking longer to complete.

[catman]

That's a lot of money for an old catcher, but I suppose the Yankees know what they are doing.

[Dry1313]

No, it is a lot, but retaining him was important. Now we just need to get Mo back.

[Veovis]

He can DH the last two years. *Crosses fingers*

[Lance324]

Posada wouldn't have gotten nearly that much from any other team. The Yankees beat themselves on this one.

[love_that_reefer]

Sounds like they are going to do the same with Rivera.

[Veovis]

That's alright. Mo can pitch another three years.

[love_that_reefer]

Not so sure about that.

[BuckFoston]

Yeah Mo has started to decline in his performance. I wouldn't be suprised if he only goes for another two years or so.

[Veovis]

Nonsense. Even if he is putting up an ERA over 4 he can still be a competent closer. Just look at Todd Jones and Joe Borowski. We just need to make sure we have competent setup men by that time. You don't need to be Papelbon in order to close out games.

[Lance324]

I think they are safer giving Rivera the 3 year deal than the 4 year deal to Posada. That being said, I think they are both pretty poor contracts, and that either of these guys were worth a lot less to other teams. They should have let them explore the market, it's well known that both players wanted to return. After they explored the market and found that they were worth less to other teams then the Yankees could have swooped in and offered a deal slightly higher than the best offer. But the Yankees approach is just to throw their money around.

[Lance324]

Todd Jones just signed a $7 million deal, Borowski made $4 million last year. That's a far cry from $15 million!!!!!!!!! If it was a 3 year deal for $7, then I'd say the Yankees got a steal of a deal.

[BuckFoston]

Nonsense. Even if he is putting up an ERA over 4 he can still be a competent closer. Just look at Todd Jones and Joe Borowski. We just need to make sure we have competent setup men by that time. You don't need to be Papelbon in order to close out games.

Oh of course he is still a great closer but I'm just saying I don't know how long he will be able to hold up.

[Veovis]

Todd Jones just signed a $7 million deal, Borowski made $4 million last year. That's a far cry from $15 million!!!!!!!!! If it was a 3 year deal for $7, then I'd say the Yankees got a steal of a deal.

Oh, I hear you, absolutely. To me the zeros aren't as important as the years though, especially for "pinstripe legends." By no means am I really happy with the lengths of these contracts. There will definitely be decline, but that decline shouldn't effect the Yanks all that much if they continue to develop their own talent. I'd prefer to look at the dollars as back payment for the championships won while they were making peanuts (relatively speaking, of course).

Edit: Also, good point about letting them pursue FA. I know the Yankees were afraid of losing both because of losing A-Rod, Torre, Mattingly, etc. I think the Mets were really after Posada though, but I don't know who was going to offer more for Mo.

Ultimately, Cashman dropped the ball not negotiating extensions for these guys last winter.

[Saber]

Mariano Rivera at the end of this contract will still be more effective than Todd Jones is now.