From the Wire … Cubs Ink Starlin Castro to Seven-Year Extension

The Cubs and Starlin Castro finalized the rumored seven-year contract extension on Tuesday. Castro agreed to a seven-year, $60 million contract that includes incentives and a club option that could max out the contract at $79 million. The contract does not include a no-trade clause but Castro will earn Ten-and-Five Rights (a player with at least 10 years of Major League service, five years with the same team) before the end of this contract if the club option for the eighth year is picked up.

Starlin Castro said he wanted to stay with the Cubs and the 22-year old shortstop signed a very club friendly contract that includes a $6 million signing bonus.

According to Ken Rosenthal, Starlin Castro’s contract extension breaks out as follows:

  • $6 million signing bonus
  • 2013 salary – $5 million
  • 2014 salary – $5 million
  • 2015 salary – $6 million
  • 2016 salary – $7 million
  • 2017 salary – $9 million
  • 2018 salary – $10 million
  • 2019 salary – $11 million
  • 2020 club option – $16 million, with a $1 million buyout

If Starlin Castro wins the NL MVP award or finishes in the top five in voting (1-5) twice, the final year (2020) and option year escalates by $2 million.

The seven-year extension is a guaranteed contract and buys out all four of his arbitration years and his first three years of free agency. Castro will be 29 years old at the end of the seven-year extension.

Will update if financial terms are different than the ones Ken Rosenthal provided.

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Quote of the Day

"The riches of the game are in the thrills, not in the money." – Ernie Banks

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  • abram

    at least you kept him!!!!!

  • Neil

    David Kaplan just confirmed Rosenthal’s numbers on Castro’s contract.

  • GaryLeeT

    Finally. A move I love.

  • triple

    Great contract! I know his defense still is suspect, but he’s shown some good improvement this year. Even if he’s just 6 or 7 errors better than last year, that’s a positive step in the right direction. Gotta remember that he’s only 22 years old. I think there’s a lot more to come from his bat and his glove.

  • Sonate

    This year his fielding is ABOVE average. Baseball-Reference shows him with 1.3 defensive WINS above average. That translates into a savings of about a dozen runs. I don’t think this is a fluke. He is improving defensively and is now above average. Although his hitting is down this year, he lead the league with 207 hits last year — at age 21. The only others to do that are either already in the hall of fame, or will be there when eligible (A-Rod). Castro is a very special player.

  • Zonk

    Tony already did a WAR analysis, and Fangraphs also weighed in a week ago when the news first broke, but make no mistake…this is a very club-friendly contract. Nice job by the front office.

    There was serious doubt whether Castro could stay at SS long-term; a move would seriously set back his value. I think this year, despite a still kind of high error rate, he’s a SS. He’s made some very good plays as well, and I think the Cubs are committed to him long term at the SS position.

    The other encouraging thing is that he is 22, and starting to hit for more power.

    A good defensive SS who hits for average and power….that’s worth alot of money in this league. Tulowitzki signed 10 years for $157 mil; he is better than Castro, but is he $87 mil over 3 years better? Methinks not.

  • ChadAudio

    Good points Zonk. I’m still not totally comfortable with him at SS yet, but this contract is so friendly, it would work if he was at 2B too (in my opinion).

  • GaryLeeT

    Castro has already proven to be healthier than Tulowitzki, and whose to say his power numbers won’t improve, as he matures.

  • Neil

    Jordan Bernfield delivers again via twitter … quotes from
    Castro’s press conference:

    Jed: “Starlin is a big part of our future…and we’re
    really excited about it. It’s a really good day for the Cubs”

    Jed: “Shortstop is a really hard position to fill in
    today’s game, especially one with offense.”

    Jed said it can be hard to do an extension in season because
    it can be a distraction. Starlin says it was, a little bit.

    Starlin says Soriano has been most important person on the
    team for him, because he took him in as a young player, showed him the ropes

    Jed says hardest to find top of the rotation starting
    pitchers and short stops. They’ve got their SS.

  • paulcatanese

    Exactly what I was talking about with Castro. Valbuena walks,
    Rizzo k’s on three durves out of the zone, Soriono walks on four straight balls, then two straight balls to Castro, thats roughly 9 balls out of the zone,six straight including Castro and guess
    what, Castro swings at the first pitch he thinks he can get the bat on. Smart hitting?