The Pittsburgh Pirates took a giant step forward as an organization on Tuesday, handing out their first $100 million contract.
They extended their best player, outfielder Bryan Reynolds, to an eight-year deal worth $106.75 million.
The 28-year old Reynolds still had two remaining seasons of team control in addition to 2023.
He blossomed into one of the best young hitters in the National League a few years ago, and except for the weird, shortened 2020 season, all of his campaigns have returned above-average offensive production.
Jason Mackey, the Pirates beat writer for the Pittsburgh Post-Gazette, offered some details of the contract extension that signals the Pirates’ intentions for the next few years: compete.
“Reynolds’ contract structure, per source: Signing bonus: $2 M; 2023: $6.75 M; 2024: $10 M; 2025: $12 M; 2026: $14 M; 2027: $15 M; 2028: $15 M; 2029: $15 M; 2030: $15 M; 2031: $20 M. Club option/$2 M buyout,” he tweeted.
Reynolds' contract structure, per source:
Signing bonus: $2 M⁰
2023: $6.75 M⁰
2024: $10 M
⁰2025: $12 M
2026: $14 M
2027: $15 M
2028: $15 M⁰
2029: $15 M
2030: $15 M
⁰2031: $20 M club option/$2 M buyout
— Jason Mackey (@JMackeyPG) April 25, 2023
Reynolds is getting a nice $2 million signing bonus this year, on top of his $6.75 million salary.
He will make $10 million next year and $12 million in 2025.
In 2026, the salary will jump to $14 million and it will be $15 million from 2027 to 2030.
He will make $20 million in 2031, but inflation and the competitive balance tax (CBT) threshold will make that salary much more palatable.
All things considered, it was a team-friendly deal considering what he could have made in free agency, but it’s also a smart decision from Reynolds to secure his money now because we don’t know what the future might hold.
He could have made more than $200 million as a free agent, but he wasn’t scheduled to hit the market until after the 2025 campaign.
That’s very far away.
Now, he is financially set for life and the Pirates have a star for almost a decade.NEXT: Pirates Fan Finds A Key Positive With Bryan Reynolds' Extension