A leg issue that flared up during his physical with both the San Francisco Giants and the New York Mets robbed Carlos Correa the chance of scoring a $300 million contract.
On Tuesday, he agreed to a six-year, $200 million deal with the Minnesota Twins, with the chance of making an extra $70 million with vesting options over the next four years.
If he hits all the milestones and all the options vest, it will be a 10-year, $270 million pact.
MLB insider Ken Rosenthal has all the details and salary breakdowns of the contract.
“Correa breakdown, per source: $36M, $36M, $36M, $31.5M, $30.5M, $30M.Numbers the first two years include $8M signing bonus, half to be paid in ‘23, half in ‘24,” Rosenthal wrote.
Correa breakdown, per source:
$36M, $36M, $36M, $31.5M, $30.5M, $30M.
Numbers the first two years include $8M signing bonus, half to be paid in ‘23, half in ‘24.
— Ken Rosenthal (@Ken_Rosenthal) January 10, 2023
The deal is, evidently, front-loaded: most of the value is in the early years, which makes sense considering he will be better today than six or eight years down the road.
The six-year part of the deal has a nice $33.3 million AAV, or average annual salary.
The option years will vest with a certain number of plate appearances the year before or with some high award finishes.
They present Correa with the chance of earning an additional $70 million: $25 million in 2029, $20 million in 2030, $15 million in 2031, and $10 million in 2032.
This might not have been the deal Correa had in mind when the offseason started and teams began throwing money to free agents, but in the end, he got paid.
He will remain with the team he played for in 2022.
With the Twins, he had a .834 OPS, 22 home runs, and a 140 wRC+.
The 28-year-old figures to be a top player for, at least, the duration of the non-option years.
NEXT: The Twins Are Fine With A Major Carlos Correa Concern