Cubs Sign Eyre to 2-year Deal
Submitted by cubsnet on Thu, 2005-11-17 21:11.
"Free agent Scott Eyre, a left-handed relief specialist, has signed a two-year contract with the Cubs, with a player option for a third year that could bring the total value of the contract to $11 million," reports FOXSports.com's Ken Rosenthal. The official site has a story by Carrie Muskat without dollar figures.
Read that again: A third year player option. $11 million.
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Eyre has been a good pitcher
Eyre has been a good pitcher over the last three years. But certainly not multi-year, multi-million dollar good heading into his age 34 season. Hendry continues to support my thesis that he doesn't overpay for his stars. He overpays for utility players and relief pitchers.
$9M just this morning
As late as this morning, the San Francisco Chronicle was reporting that Eyre's agent was seeking nine million over three years. Up to $11M is a big jump in the bidding.
More Details From the AP
The AP has this:
"Eyre's contract calls for up to $300,000 a year in performance bonuses. He will receive $100,000 for 70 appearances and an additional $200,000 if he pitches in 80 games. There is also wording that would give Eyre additional money should he become the Cubs' closer." However, "'We haven't worked all [the details] out yet,' Eyre's agent Tommy Tanzer said. 'There is going to be a signing bonus.'"
Draft pick
Another cost of this signing: the Cubs have to give the Giants a compensatory draft pick, as Eyre was signed before the Giants had to offer him arbitration or lose him.
Eyre an 'A' level player
As 'dmlichte' notes at Bleed Cubbie Blue, Eyre is ranked as an 'A' level free agent by Elias, meaning the Giants get the Cubs' 1st round draft pick in 2006.
Correction
Correction: Rob Glowacki observes that the Cubs' 1st round pick is protected, because it is in the top 15. The Giants will get the Cubs' 2nd round pick.
All right!
This should solve a few problems, because what the Cubs really needed is someone a lot like Mike Remlinger, only more expensive and not as good.
The Cubs Were the Only Team Bidding for Eyre
"Scott Eyre was so intent on becoming a Cub he accepted their three-year, $11 million offer without trying to find out if he could get more elsewhere," reports the Chicago Tribune's Paul Sullivan. Did the Cubs try to find out how much anyone else was willing to pay for Eyre?