Anthony Rizzo Extension Officially Official, Contract Details

anthony rizzo cubsToday the Chicago Cubs announced – officially – that they’d signed 23-year-old first baseman Anthony Rizzo to a seven-year extension, including 2013, which will keep him with the Cubs through 2019. The team also gets two option years, and more analysis of the signing can be found in the initial post this morning. The Cubs are having a press conference this afternoon at 3pm CT, where they will say nice things about Rizzo and he will say nice things about the Cubs. In between, hopefully we get some big picture commentary.

Jon Heyman today revealed the details of Rizzo’s deal, which will pay him as follows: a $2 million signing bonus, a bump to $750K this season, $1.25 million in 2014, $5 million in 2015, $5 million in 2016, $7 million in 2017, $7 million in 2018, $11 million in 2019, and then club options worth $14.5 million in each of 2020 and 2021. I’d imagine there’s a buyout attached to those options, but I’m not yet sure of the amount. (UPDATE: Thanks for the heads up, Spencer in the comments – it’s a $2 million buyout. That makes the guarantee $41 million – $39 million in salaries and the signing bonus, and the $2 million buyout. If both options are exercised, it’s $68 million for 9 seasons.)

All in all, a fine deal for both sides. The rates track typical arbitration raises (but on the team-friendly side), and give the Cubs a huge amount of flexibility in that critical 2015 to 2018 window. If Rizzo becomes a star in the middle of the lineup, having him locked in at just $5 and $7 million is going to help with that whole roster construction thing. That’s especially true if, as expected, the Cubs’ payroll has moved into the $130 to $140 million range at that time.

We’ll have a lot more on the extension this week as it is analyzed, re-analyzed, deconstructed, and reviewed.

Brett Taylor is the editor and lead writer at Bleacher Nation, and can also be found as Bleacher Nation on Twitter and on Facebook.

34 responses to “Anthony Rizzo Extension Officially Official, Contract Details”

  1. Spencer

    I saw the buyout was $2MM, can’t remember where I read it though.

    1. Spencer

      Here it is: @JonHeymanCBS: the rizzo deal (including 2 cubs options) is actually worth $68M for 9 since theres a $2M buyout.

    2. Spencer

      “If an option is declined, the buyout is payable the following Jan. 15. If he wins the NL MVP or finishes among the top five in MVP voting at least twice, his 2019 salary increases to $12 million and the option prices go up to $16.5 million.

      In addition, if he finishes among the top two in NL MVP voting in any year through 2019 and then is traded, he can void the 2021 option.” – via ESPN.com

      1. dw8

        Hope he earns those bonuses?!

        1. Featherstone

          You and me both. Would love to see him earn those bonuses.

        2. Drew7

          I’m Ron Burgundy?

  2. Rizzo 44

    I love this deal for the Cubs. Now the Cubs a SS, 1B, and at least 1 OF locked up long term. I think the next deal to get done will either be Shark with a 5 or 6 year deal worth about 50M with 2 option years. I also think the Cubs could look to lock up Castillo if he keeps things going in the right direction. Barney I am on the fence about. I love his D, but his bat is not so good. We have position players in the system but I feel we need someone like Chase Headley more than we need a David Price. I would love to have both but Price isn’t looking to hot this year and Chase is killing the ball again since his DL return. He would rake for 82 games in Wrigley and the NLC parks are way more hitter friendly than NLW. I would trade Baez, Vogelbach, and Vitters for Headley and Kevin Quackenbush.

    1. Rizzo 44

      81 games

    2. Tim

      I don’t think Castillo is the long term answer behind the plate

      1. Rizzo 44

        I think with a little work he can be the guy for the Cubs if nothing else a backup, but we really have nothing in the farm system so unless they draft someone or work a trade I think he could be in the long term plans. Maybe they go sign McCann, but he has to prove he’s healthy first.

        1. OCCubFan

          With the way the Cubs’ pitchers make wild pitches and Cubs’ catchers allow passed balls, we could use a backup catcher. If only the rules would allow us to play the backup catcher at the same time—positioned perhaps 20 feet behind the regular catcher.

    3. waittilthisyear

      is quackenbush a real name?

      1. Rizzo 44

        yes

    4. ssckelley

      The earliest Castillo can be a free agent is 2018 and he has his work cut out for him if he hopes to remain the starting catcher of the future.

  3. Joker

    CATS…PAJAMAS…

  4. JulioZuleta

    In 2016, the Cubs will pay Castro, Rizzo, and Soler a combined salary of $17 M…and all will still have at least 4 years of control left.

    1. Jp3

      Awesome, that could be legitimately be 3 of our 8 everyday players playing for peanuts. I love that Josh Hamilton and Poo holes make about $8mill more a season each than our trio… Giggles

      1. JulioZuleta

        And they could be 3 legitimate All-Stars. Obviously Soler might not come anywhere close to that, but it’s looking good.

      2. JoeyCollins

        Yeah. If you include Aybar they will owe those three 66mil + in 2016. Talk about paying for a players decline.

  5. Dr. Leroy Quackenbush

    The plan is starting to shape as painful as it is to get there.

  6. JoeyCollins

    Anyone know a good site for looking at team payroll. I use capgeek for hockey and was hoping to find something similar for MLB.

    1. bbmoney
    2. JoeyCollins

      Thanks. I never think about BP because i dont subscribe, but it appears most all the info i would want is free.

  7. brobots

    That reminds me, whats up with Gerardo Concepcion? He was out righted off the 40 man…?

    1. Justin

      Last I heard Concepcion got Mono making out with Hayden Simpson…

      1. Cubsfanforlife

        Does anyone really know what happened to Concepcion? We gave him a lot of money, I know he had a bad year, but I was still hopeful that he could still show he had some talent. Why else would they invest that much money in him? If he is already being discounted, that has to be the biggest mistake so far by our FO

        1. Kyle

          I think he’s down in extended spring training, working on things?

          The signing raised some eyebrows from outside observers, and it turned out the outside observers were right.

        2. willis

          To get Soler…

          1. Cubsfanforlife

            I thought about that Willis. Very astute of you to point that out. I guess it is worth it if Soler is as awesome as he seems to be at baseball

        3. Justin

          I think Concepcion got $6 million, which obviously looks like a mistake at this point. But I don’t think it’s that big of a mistake, all things considered..

  8. Cubsfanforlife

    Especially if it got us Soler

  9. curt

    hey anyone else hearing that Rahm Emanuel is trying to get a proposed 300 million dollar arena for DePaul through the Illinois legislature 100 million from DePaul , 100 million from the state and 100 million for naming rights I heard it in passing on the score, curious how tht plays out being the state wouldn’t lift a finger for the cubs.

  10. Lou Brock

    Check out stats on Ole Miss catcher Stuart Turner a draft eligible junior in this year’s draft. He is hitting almost .400 & has great defensive skills. He should be available in round 2 with the 41st pick for the Cubs.

    1. ssckelley

      But the question is with the amount of money they will need to sign their #2 pick can they sign him?

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