From the Wire….Floyd Officially a Cub

Cliff Floyd agrees to 1-year, $3 million dollar deal with a mutual option for 2008

Updated 5:29pm C.T. – With Information on Floyd’s Contract Incentives

According to a report on Yahoo Sports, the Cubs have agreed to a 1-year, $3 million dollar deal with free agent Cliff Floyd….the deal includes a mutual option for 2008. Yahoo names ESPN 1000 in Chicago as their source.

Will update when more information is made available

UpdateAccording to a report in the Chicago Sun-Times, Cliff Floyd’s deal is full of incentives and could total as much as $17.5 million over the next 2 years. Here is the breakdown:

  • Floyd could earn an additional $4.5 million in bonuses this season based on plate appearances and time on the active 25-man roster
  • The 2008 option is guaranteed if Floyd starts 100 games or 425 plate appearances in 2007
  • The deal could be worth $17.5 million over the next 2 years if Floyd has 550 at bats in each of the two seasons (1100 total)
  • The deal could be worth $15.5 million over the next 2 years if Floyd has 500 at bats in each of the two seasons (1000 total)

The Cubs 40-man roster currently stands at 42 with the additions of Cliff Floyd and Jeff Samardzija in the last week.

Will Update if additional information is released

Quote of the Day

"Change is inevitable, but personal growth is a choice." - Bob Proctor
Share on Fancred