http://www.mlbtraderumors.com/2011/08/angels-extend-jered-weaver.html
$85M/5-year
The Angels have signed ace Jered Weaver to a five-year, $85MM contract
extension, according to Jon Heyman of SI.com (via Twitter). The deal includes
a full no-trade clause, according to Tim Brown of Yahoo! Sports (via Twitter).
Weaver, a Boras Corporation client, as our Agency Database shows, was slated
to hit free agency after 2012, so this extension buys out his final year of
arbitration eligibility and four years of free agency at an average annual
salary of $17.5MM. He earns $7.37MM in 2011 after losing an arbitration
hearing with the Halos prior to this season. Tim Dierkes explained in May
that Weaver could have earned as much as $15MM in 2012 after another round of
arbitration.
Weaver's deal is similar in terms to the ones Felix Hernandez signed with the
Mariners (five years, $78MM) and Justin Verlander (five years, $80MM) inked
with the Tigers prior to the 2010 season, as noted by Heyman (Twitter). The
difference, though, is that both Hernandez and Verlander had two remaining
years of arbitration eligibility when they signed, whereas Weaver is nearer
to free agency with only one remaining. The contract is the largest for a
pitcher in Angels history, according to Bill Shaikin of the Los Angeles Times
(via Twitter).
As Jeff Passan of Yahoo! notes, the projected class of free-agent starters in
2013 is deep, headlined by Cole Hamels, Zack Greinke, Matt Cain, Shaun
Marcum, John Danks, Anibal Sanchez and Francisco Liriano (Twitter link). So,
perhaps Weaver and his representatives were motivated to get a jump on that
market, as Boras Corporation clients typically go to free agency. Buster
Olney of ESPN.com thinks Weaver could have fetched a nine-figure contract on
the open market after 2012 (Twitter link).
The 28-year-old right-hander, the No. 12 overall pick in the 2004 draft, is
in the midst of a career year, posting a 2.10 ERA (178 ERA+), 7.6 K/9 and 2.0
BB/9. He is among the favorites to win the American League Cy Young Award,
along with Verlander and CC Sabathia of the Yankees.
The deal will be announced by the club on Tuesday.