traydragen Posted January 8, 2005 Share Posted January 8, 2005 Apparently all the rumors were true..if this has been posted or doesnt belong here then move it or delete it or something. If Millwood is healthy this year then I believe this can be very big news for them. CLEVELAND -- Concerned about Kevin Millwood's elbow, the Cleveland Indians structured his $7 million contract in a way to protect the team financially if the right-hander gets hurt while pitching next season. Under the innovative deal with agent Scott Boras, Millwood will be guaranteed $3 million in salary. He also gets a $4 million signing bonus, but that money is contingent on him not spending more than 20 days on the disabled list for a shoulder or elbow injury sustained while pitching -- not fielding or batting. Millwood also can earn an additional $1 million in performance bonuses, getting the full amount if he makes 34 starts or pitches 215 innings. If Millwood spends 21 or more days on the DL for an injury to his shoulder or elbow sustained while pitching, he would lose 1/183rd of the signing bonus for each day on the DL, including the first 20. That reduction calculates to $21,857 per day. Indians general manager Mark Shapiro would not comment on any specifics of the contract Friday. "It's a deal where the player and team are sharing equal risk," he said. The structure is somewhat along the lines of the $40 million, four-year deal Boras negotiated last offseason between catcher Ivan Rodriguez and the Detroit Tigers, which allows the team to make a termination payment and void remaining salaries if he goes on the DL for a lumbar spine injury for specified days. Millwood, 30, has pitched more than 200 innings four times in his career and would earn a $250,000 bonus for making 29 starts or reaching 185 innings. He would get another $250,000 each for 31 starts or 195 innings, 33 starts or 205 innings and 34 starts or 215 innings. The signing will end months of frustration for the Indians, who had come up short during free agency in their quest to add a quality pitcher to their starting staff. Millwood will slide nicely into the No. 3 spot behind C.C. Sabathia and Jake Westbrook and ahead of Cliff Lee and Scott Elarton or Jason Davis. Millwood, who made $11 million last season, has won more than 17 games three times in his career. In 2002, his first season with the Phillies, he went 18-8 with a 3.24 ERA. Last season, he was just 9-6 with a 4.85 ERA in 25 starts, but only two after hurting his right elbow. AP NEWS The Associated Press News Service Quote Link to comment Share on other sites More sharing options...
Rowand44 Posted January 8, 2005 Share Posted January 8, 2005 QUOTE(traydragen @ Jan 8, 2005 -> 11:43 AM) Apparently all the rumors were true..if this has been posted or doesnt belong here then move it or delete it or something. If Millwood is healthy this year then I believe this can be very big news for them. CLEVELAND -- Concerned about Kevin Millwood's elbow, the Cleveland Indians structured his $7 million contract in a way to protect the team financially if the right-hander gets hurt while pitching next season. Under the innovative deal with agent Scott Boras, Millwood will be guaranteed $3 million in salary. He also gets a $4 million signing bonus, but that money is contingent on him not spending more than 20 days on the disabled list for a shoulder or elbow injury sustained while pitching -- not fielding or batting. Millwood also can earn an additional $1 million in performance bonuses, getting the full amount if he makes 34 starts or pitches 215 innings. If Millwood spends 21 or more days on the DL for an injury to his shoulder or elbow sustained while pitching, he would lose 1/183rd of the signing bonus for each day on the DL, including the first 20. That reduction calculates to $21,857 per day. Indians general manager Mark Shapiro would not comment on any specifics of the contract Friday. "It's a deal where the player and team are sharing equal risk," he said. The structure is somewhat along the lines of the $40 million, four-year deal Boras negotiated last offseason between catcher Ivan Rodriguez and the Detroit Tigers, which allows the team to make a termination payment and void remaining salaries if he goes on the DL for a lumbar spine injury for specified days. Millwood, 30, has pitched more than 200 innings four times in his career and would earn a $250,000 bonus for making 29 starts or reaching 185 innings. He would get another $250,000 each for 31 starts or 195 innings, 33 starts or 205 innings and 34 starts or 215 innings. The signing will end months of frustration for the Indians, who had come up short during free agency in their quest to add a quality pitcher to their starting staff. Millwood will slide nicely into the No. 3 spot behind C.C. Sabathia and Jake Westbrook and ahead of Cliff Lee and Scott Elarton or Jason Davis. Millwood, who made $11 million last season, has won more than 17 games three times in his career. In 2002, his first season with the Phillies, he went 18-8 with a 3.24 ERA. Last season, he was just 9-6 with a 4.85 ERA in 25 starts, but only two after hurting his right elbow. AP NEWS The Associated Press News Service Well the Indians definitely structured this contract better then was thought before, still Millwood isn't very good and imo the Indians still finish in a distant 3rd. Quote Link to comment Share on other sites More sharing options...
AngelasDaddy0427 Posted January 8, 2005 Share Posted January 8, 2005 *Yawn* Quote Link to comment Share on other sites More sharing options...
traydragen Posted January 8, 2005 Author Share Posted January 8, 2005 Wow I didn't even realize how good this deal was for Cleveland until you mentioned it. Wasn't he making like something outrageous with the Phillies, like over 10 mil. a year right. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 8, 2005 Share Posted January 8, 2005 QUOTE(Rowand44 @ Jan 8, 2005 -> 11:45 AM) Well the Indians definitely structured this contract better then was thought before, still Millwood isn't very good and imo the Indians still finish in a distant 3rd. Yeah I gotta say, I thought the Indians got screwed when I saw the numbers originally. They did a much better job with the clauses in there. I guess that shows the market for Millwood was nil, if he couldn't do better than that. Quote Link to comment Share on other sites More sharing options...
Wise Master Buehrle Posted January 8, 2005 Share Posted January 8, 2005 Still too much for someone who had an ERA of 4.85 in the National League. But, the INdians needed another pitcher. Quote Link to comment Share on other sites More sharing options...
aboz56 Posted January 8, 2005 Share Posted January 8, 2005 Can't wait to see him in the Cell so we can deposit a few in the left field seats off of this nag. Quote Link to comment Share on other sites More sharing options...
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